Electronic Arts (NASDAQ:EA) Hits New 1-Year High – Here’s What Happened

Shares of Electronic Arts Inc. (NASDAQ:EA) reached a new 52-week high during trading on Monday . The stock traded as high as $206.63 and last traded at $206.5420, with a volume of 1228540 shares traded. The stock had previously closed at $206.41.

Analyst Ratings Changes

A number of research firms have recently weighed in on EA. Citigroup raised their price target on shares of Electronic Arts from $202.00 to $204.00 and gave the company a “neutral” rating in a report on Thursday, May 7th. Argus lowered Electronic Arts from a “buy” rating to a “hold” rating in a research note on Thursday, May 28th. Wall Street Zen upgraded Electronic Arts to a “hold” rating in a research note on Saturday, June 6th. Finally, Weiss Ratings raised Electronic Arts from a “hold (c)” rating to a “hold (c+)” rating in a report on Monday, May 18th. Two analysts have rated the stock with a Buy rating, seventeen have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $196.64.

Electronic Arts Stock Up 0.1%

The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 0.22. The business’s fifty day moving average price is $202.76 and its 200 day moving average price is $202.53. The company has a market capitalization of $51.81 billion, a P/E ratio of 59.21, a P/E/G ratio of 2.31 and a beta of 0.64.

Electronic Arts Dividend Announcement

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

Insiders Place Their Bets

In other news, insider Vijayanthimala Singh sold 1,200 shares of the company’s stock in a transaction dated Monday, June 15th. The shares were sold at an average price of $203.00, for a total value of $243,600.00. Following the sale, the insider owned 26,360 shares of the company’s stock, valued at approximately $5,351,080. This represents a 4.35% decrease in their position. The transaction was disclosed in a document filed 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. Also, CEO Andrew Wilson sold 5,000 shares of the company’s stock in a transaction dated Monday, June 15th. The stock was sold at an average price of $203.12, for a total transaction of $1,015,600.00. Following the sale, the chief executive officer directly owned 80,974 shares in the company, valued at $16,447,438.88. This represents a 5.82% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 39,906 shares of company stock worth $8,060,033 in the last quarter. 0.24% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of EA. Brighton Jones LLC raised its holdings in Electronic Arts by 9.4% during the 4th quarter. Brighton Jones LLC now owns 3,420 shares of the game software company’s stock worth $500,000 after purchasing an additional 294 shares during the last quarter. Empowered Funds LLC lifted its holdings in shares of Electronic Arts by 167.0% during the 1st quarter. Empowered Funds LLC now owns 19,306 shares of the game software company’s stock valued at $2,790,000 after purchasing an additional 12,076 shares in the last quarter. Geneos Wealth Management Inc. lifted its stake in Electronic Arts by 150.8% in the first quarter. Geneos Wealth Management Inc. now owns 316 shares of the game software company’s stock valued at $46,000 after buying an additional 190 shares in the last quarter. Jump Financial LLC acquired a new stake in shares of Electronic Arts during the second quarter worth $2,323,000. Finally, NewEdge Advisors LLC raised its holdings in shares of Electronic Arts by 96.4% during the second quarter. NewEdge Advisors LLC now owns 3,067 shares of the game software company’s stock worth $490,000 after acquiring an additional 1,505 shares during the period. Institutional investors own 90.23% of the company’s stock.

Electronic Arts Company Profile

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.