Electronic Arts Inc. (NASDAQ:EA) Shares Sold by New York State Teachers Retirement System

New York State Teachers Retirement System reduced its stake in shares of Electronic Arts Inc. (NASDAQ:EA) by 3.1% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 232,737 shares of the game software company’s stock after selling 7,559 shares during the period. New York State Teachers Retirement System owned 0.09% of Electronic Arts worth $33,384,000 as of its most recent SEC filing.

Several other institutional investors have also recently modified their holdings of the stock. Opal Wealth Advisors LLC purchased a new stake in Electronic Arts in the 2nd quarter worth approximately $28,000. Family Firm Inc. purchased a new stake in Electronic Arts in the 2nd quarter worth approximately $33,000. New Covenant Trust Company N.A. purchased a new stake in Electronic Arts in the 1st quarter worth approximately $35,000. Gradient Investments LLC grew its stake in Electronic Arts by 592.1% in the 2nd quarter. Gradient Investments LLC now owns 263 shares of the game software company’s stock worth $37,000 after acquiring an additional 225 shares during the period. Finally, Bruce G. Allen Investments LLC grew its stake in Electronic Arts by 156.6% in the 3rd quarter. Bruce G. Allen Investments LLC now owns 272 shares of the game software company’s stock worth $39,000 after acquiring an additional 166 shares during the period. 90.23% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Electronic Arts

In other Electronic Arts news, CFO Stuart Canfield sold 1,260 shares of the firm’s stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $148.37, for a total value of $186,946.20. Following the transaction, the chief financial officer now owns 7,553 shares of the company’s stock, valued at $1,120,638.61. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other Electronic Arts news, CEO Andrew Wilson sold 2,500 shares of the firm’s stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $148.88, for a total value of $372,200.00. Following the sale, the chief executive officer now owns 56,747 shares in the company, valued at approximately $8,448,493.36. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Stuart Canfield sold 1,260 shares of the firm’s stock in a transaction that occurred on Monday, August 19th. The shares were sold at an average price of $148.37, for a total transaction of $186,946.20. Following the completion of the sale, the chief financial officer now owns 7,553 shares in the company, valued at $1,120,638.61. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 22,644 shares of company stock valued at $3,340,377. Insiders own 0.22% of the company’s stock.

Wall Street Analysts Forecast Growth

EA has been the subject of several recent analyst reports. Morgan Stanley reaffirmed an “equal weight” rating and issued a $150.00 target price on shares of Electronic Arts in a research note on Wednesday, September 18th. Jefferies Financial Group initiated coverage on shares of Electronic Arts in a research note on Thursday, July 11th. They set a “buy” rating and a $165.00 price objective for the company. Wedbush reissued an “outperform” rating and set a $170.00 price objective on shares of Electronic Arts in a research note on Friday, October 25th. Bank of America boosted their price objective on shares of Electronic Arts from $150.00 to $170.00 and gave the company a “buy” rating in a research note on Wednesday, July 31st. Finally, DZ Bank raised shares of Electronic Arts from a “hold” rating to a “buy” rating and boosted their price objective for the company from $135.00 to $177.00 in a research note on Thursday. Eight equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $164.39.

Electronic Arts Stock Performance

NASDAQ:EA opened at $150.85 on Friday. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.45 and a quick ratio of 1.45. The firm has a 50-day moving average of $144.89 and a two-hundred day moving average of $140.02. The stock has a market cap of $39.85 billion, a P/E ratio of 38.78, a PEG ratio of 1.97 and a beta of 0.79. Electronic Arts Inc. has a 1-year low of $121.63 and a 1-year high of $153.51.

Electronic Arts (NASDAQ:EA) last issued its quarterly earnings results on Tuesday, July 30th. The game software company reported $0.09 EPS for the quarter, topping the consensus estimate of $0.03 by $0.06. Electronic Arts had a net margin of 15.77% and a return on equity of 16.34%. The business had revenue of $1.26 billion for the quarter, compared to analysts’ expectations of $1.21 billion. On average, research analysts expect that Electronic Arts Inc. will post 5.93 earnings per share for the current fiscal year.

Electronic Arts Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 18th. Stockholders of record on Wednesday, November 27th will be given a dividend of $0.19 per share. The ex-dividend date of this dividend is Wednesday, November 27th. This represents a $0.76 annualized dividend and a dividend yield of 0.50%. Electronic Arts’s payout ratio is 19.54%.

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.