California State Teachers Retirement System Sells 7,379 Shares of Electronic Arts Inc. $EA

California State Teachers Retirement System reduced its holdings in Electronic Arts Inc. (NASDAQ:EA) by 1.9% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 382,501 shares of the game software company’s stock after selling 7,379 shares during the period. California State Teachers Retirement System owned approximately 0.15% of Electronic Arts worth $77,980,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Cornerstone Planning Group LLC raised its position in shares of Electronic Arts by 26.7% during the 1st quarter. Cornerstone Planning Group LLC now owns 242 shares of the game software company’s stock valued at $49,000 after acquiring an additional 51 shares during the last quarter. Optas LLC boosted its position in shares of Electronic Arts by 4.2% in the 1st quarter. Optas LLC now owns 1,332 shares of the game software company’s stock worth $272,000 after purchasing an additional 54 shares during the last quarter. Salomon & Ludwin LLC boosted its position in shares of Electronic Arts by 32.8% in the 4th quarter. Salomon & Ludwin LLC now owns 231 shares of the game software company’s stock worth $47,000 after purchasing an additional 57 shares during the last quarter. Macroview Investment Management LLC grew its stake in shares of Electronic Arts by 6.2% during the fourth quarter. Macroview Investment Management LLC now owns 1,065 shares of the game software company’s stock worth $218,000 after purchasing an additional 62 shares during the period. Finally, Candriam S.C.A. grew its stake in shares of Electronic Arts by 0.3% during the first quarter. Candriam S.C.A. now owns 24,685 shares of the game software company’s stock worth $5,033,000 after purchasing an additional 65 shares during the period. 90.23% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the company. Citigroup upped their price objective on Electronic Arts from $202.00 to $204.00 and gave the company a “neutral” rating in a report on Thursday, May 7th. Argus cut Electronic Arts from a “buy” rating to a “hold” rating in a report on Thursday, May 28th. Zacks Research lowered Electronic Arts from a “hold” rating to a “strong sell” rating in a research report on Monday, July 13th. Weiss Ratings raised Electronic Arts from a “hold (c)” rating to a “hold (c+)” rating in a research note on Monday, May 18th. Finally, Wall Street Zen upgraded shares of Electronic Arts to a “hold” rating in a research report on Saturday, June 6th. Two analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $201.42.

Insider Transactions at Electronic Arts

In other Electronic Arts news, CEO Andrew Wilson sold 5,066 shares of the stock in a transaction dated Thursday, May 21st. The stock was sold at an average price of $201.66, for a total value of $1,021,609.56. Following the completion of the sale, the chief executive officer directly owned 85,974 shares in the company, valued at $17,337,516.84. This represents a 5.56% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, EVP Jacob J. Schatz sold 5,000 shares of the firm’s stock in a transaction dated Wednesday, May 20th. The stock was sold at an average price of $201.19, for a total value of $1,005,950.00. Following the sale, the executive vice president directly owned 42,287 shares in the company, valued at approximately $8,507,721.53. This represents a 10.57% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last quarter, insiders sold 31,206 shares of company stock valued at $6,292,058. Insiders own 0.24% of the company’s stock.

Electronic Arts Price Performance

EA opened at $208.91 on Thursday. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 0.22. Electronic Arts Inc. has a 12 month low of $150.87 and a 12 month high of $209.41. The company has a fifty day simple moving average of $204.70 and a 200 day simple moving average of $202.89. The stock has a market cap of $52.38 billion, a P/E ratio of 59.86, a P/E/G ratio of 2.34 and a beta of 0.64.

Electronic Arts Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, June 17th. Shareholders of record on Wednesday, May 27th were paid a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a yield of 0.4%. The ex-dividend date of this dividend was Wednesday, May 27th. Electronic Arts’s payout ratio is presently 21.78%.

About Electronic Arts

Electronic Arts Inc (NASDAQ: EA) is a global interactive entertainment company headquartered in Redwood City, California. Founded in 1982 by Trip Hawkins, EA develops, publishes and distributes video games and related content for a variety of platforms, including consoles, personal computers and mobile devices. The company combines in-house development, partnerships and studio acquisitions to create and maintain a portfolio of entertainment properties and live-service experiences for players worldwide.

EA’s product lineup spans several well-known franchises and genres.