Centaurus Financial Inc. purchased a new stake in Electronic Arts Inc. (NASDAQ:EA) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 2,206 shares of the game software company’s stock, valued at approximately $299,000.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. BlackRock Inc. raised its stake in shares of Electronic Arts by 13.6% in the 4th quarter. BlackRock Inc. now owns 22,993,496 shares of the game software company’s stock valued at $3,301,866,000 after purchasing an additional 2,747,815 shares during the period. Alliancebernstein L.P. grew its holdings in shares of Electronic Arts by 23.1% in the 4th quarter. Alliancebernstein L.P. now owns 11,314,902 shares of the game software company’s stock valued at $1,624,820,000 after acquiring an additional 2,125,286 shares in the last quarter. Public Investment Fund bought a new position in shares of Electronic Arts in the 4th quarter valued at about $1,065,538,000. Nuveen Asset Management LLC grew its holdings in shares of Electronic Arts by 10.9% in the 4th quarter. Nuveen Asset Management LLC now owns 3,378,124 shares of the game software company’s stock valued at $485,099,000 after acquiring an additional 332,571 shares in the last quarter. Finally, Ninety One UK Ltd grew its holdings in shares of Electronic Arts by 17.6% in the 4th quarter. Ninety One UK Ltd now owns 3,120,854 shares of the game software company’s stock valued at $448,155,000 after acquiring an additional 467,365 shares in the last quarter. 87.95% of the stock is currently owned by hedge funds and other institutional investors.
Several equities analysts have recently weighed in on the company. Piper Sandler raised their price objective on Electronic Arts from $133.00 to $156.00 and gave the company a “neutral” rating in a report on Wednesday, February 3rd. Wells Fargo & Company lifted their price target on Electronic Arts from $145.00 to $165.00 and gave the stock an “equal weight” rating in a report on Wednesday, February 3rd. The Goldman Sachs Group upgraded Electronic Arts from a “neutral” rating to a “buy” rating and set a $170.00 price target for the company in a report on Sunday, January 24th. Needham & Company LLC reiterated a “buy” rating and set a $165.00 price target on shares of Electronic Arts in a report on Wednesday. Finally, Raymond James began coverage on Electronic Arts in a report on Wednesday, February 3rd. They set an “outperform” rating and a $164.00 price target for the company. Eleven investment analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus price target of $156.29.
Electronic Arts (NASDAQ:EA) last released its quarterly earnings results on Monday, May 10th. The game software company reported $1.23 earnings per share for the quarter, beating analysts’ consensus estimates of $1.05 by $0.18. Electronic Arts had a net margin of 23.51% and a return on equity of 17.85%. The company had revenue of $1.49 billion during the quarter, compared to the consensus estimate of $1.39 billion. During the same period in the previous year, the business earned $1.08 earnings per share. The firm’s quarterly revenue was up 18.6% on a year-over-year basis. On average, equities research analysts forecast that Electronic Arts Inc. will post 4.14 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 23rd. Shareholders of record on Wednesday, June 2nd will be given a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a yield of 0.49%. Electronic Arts’s dividend payout ratio is currently 14.29%.
In other Electronic Arts news, CFO Blake J. Jorgensen sold 5,975 shares of the business’s stock in a transaction that occurred on Wednesday, April 7th. The shares were sold at an average price of $141.99, for a total transaction of $848,390.25. Following the completion of the transaction, the chief financial officer now directly owns 31,593 shares in the company, valued at $4,485,890.07. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, General Counsel Jacob J. Schatz sold 1,000 shares of the business’s stock in a transaction that occurred on Monday, March 22nd. The shares were sold at an average price of $129.42, for a total transaction of $129,420.00. Following the transaction, the general counsel now owns 14,860 shares of the company’s stock, valued at $1,923,181.20. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 13,735 shares of company stock valued at $1,916,389. Company insiders own 0.92% of the company’s stock.
Electronic Arts Profile
Electronic Arts Inc develops, markets, publishes, and distributes games, content, and services for game consoles, PCs, mobile phones, and tablets worldwide. The company develops and publishes games and services across various genres, such as sports, first-person shooter, action, role-playing, and simulation primarily under the Battlefield, The Sims, Apex Legends, Need for Speed, and Plants v.
Further Reading: What is the significance of the death cross?
Receive News & Ratings for Electronic Arts Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Electronic Arts and related companies with MarketBeat.com's FREE daily email newsletter.