AXQ Capital LP Lowers Holdings in Electronic Arts Inc. (NASDAQ:EA)

AXQ Capital LP decreased its stake in Electronic Arts Inc. (NASDAQ:EA) by 16.4% during the fourth quarter, Holdings Channel reports. The institutional investor owned 2,691 shares of the game software company’s stock after selling 529 shares during the quarter. AXQ Capital LP’s holdings in Electronic Arts were worth $394,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently modified their holdings of the stock. Geode Capital Management LLC boosted its stake in shares of Electronic Arts by 0.4% in the third quarter. Geode Capital Management LLC now owns 6,671,657 shares of the game software company’s stock worth $954,358,000 after buying an additional 26,505 shares during the last quarter. Amundi boosted its position in Electronic Arts by 4.3% during the fourth quarter. Amundi now owns 2,990,729 shares of the game software company’s stock worth $431,315,000 after purchasing an additional 122,494 shares in the last quarter. Bank of New York Mellon Corp boosted its position in Electronic Arts by 1.3% during the fourth quarter. Bank of New York Mellon Corp now owns 1,789,283 shares of the game software company’s stock worth $261,772,000 after purchasing an additional 23,289 shares in the last quarter. Swedbank AB boosted its position in Electronic Arts by 6.3% during the fourth quarter. Swedbank AB now owns 1,607,817 shares of the game software company’s stock worth $235,224,000 after purchasing an additional 95,190 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its position in Electronic Arts by 2.5% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,456,520 shares of the game software company’s stock worth $213,089,000 after purchasing an additional 36,153 shares in the last quarter. Hedge funds and other institutional investors own 90.23% of the company’s stock.

Insiders Place Their Bets

In other news, CEO Andrew Wilson sold 5,000 shares of Electronic Arts stock in a transaction on Thursday, March 20th. The stock was sold at an average price of $142.50, for a total value of $712,500.00. Following the completion of the sale, the chief executive officer now directly owns 32,615 shares of the company’s stock, valued at approximately $4,647,637.50. The trade was a 13.29 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CFO Stuart Canfield sold 1,000 shares of Electronic Arts stock in a transaction on Thursday, December 26th. The shares were sold at an average price of $148.18, for a total value of $148,180.00. Following the completion of the sale, the chief financial officer now directly owns 8,750 shares of the company’s stock, valued at $1,296,575. The trade was a 10.26 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 23,000 shares of company stock valued at $3,166,740 over the last quarter. 0.22% of the stock is owned by insiders.

Electronic Arts Price Performance

NASDAQ:EA opened at $144.30 on Monday. Electronic Arts Inc. has a one year low of $115.21 and a one year high of $168.50. The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.38 and a current ratio of 1.38. The stock has a market cap of $37.61 billion, a PE ratio of 36.72, a P/E/G ratio of 3.58 and a beta of 0.78. The stock has a 50 day moving average price of $132.76 and a 200 day moving average price of $144.62.

Electronic Arts (NASDAQ:EA) last posted its earnings results on Tuesday, February 4th. The game software company reported $2.34 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.41 by ($1.07). Electronic Arts had a return on equity of 17.80% and a net margin of 14.28%. Equities research analysts expect that Electronic Arts Inc. will post 4.71 EPS for the current fiscal year.

Electronic Arts Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, March 19th. Shareholders of record on Wednesday, February 26th were paid a dividend of $0.19 per share. The ex-dividend date of this dividend was Wednesday, February 26th. This represents a $0.76 annualized dividend and a yield of 0.53%. Electronic Arts’s dividend payout ratio (DPR) is 19.34%.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on EA. Ascendiant Capital Markets increased their price target on Electronic Arts from $157.00 to $160.00 and gave the stock a “buy” rating in a research report on Monday, March 3rd. Robert W. Baird lowered their price target on Electronic Arts from $175.00 to $158.00 and set an “outperform” rating on the stock in a research report on Thursday, January 23rd. Oppenheimer lowered their price target on Electronic Arts from $170.00 to $165.00 and set an “outperform” rating on the stock in a research report on Tuesday, January 21st. Benchmark lowered their price target on Electronic Arts from $163.00 to $140.00 and set a “buy” rating on the stock in a research report on Wednesday, February 5th. Finally, Roth Mkm decreased their target price on Electronic Arts from $158.00 to $134.00 and set a “neutral” rating on the stock in a research report on Thursday, January 23rd. Thirteen investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $154.78.

Electronic Arts Profile

Electronic Arts Inc develops, markets, publishes, and distributes games, content, and services for game consoles, PCs, mobile phones, and tablets worldwide. It develops and publishes games and services across various genres, such as sports, racing, first-person shooter, action, role-playing, and simulation primarily under the Battlefield, The Sims, Apex Legends, Need for Speed, and license games from others, including FIFA, Madden NFL, UFC, and Star Wars brands.