Panagora Asset Management Inc. Increases Position in Electronic Arts Inc. $EA

Panagora Asset Management Inc. boosted its holdings in shares of Electronic Arts Inc. (NASDAQ:EA) by 3,284.4% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 517,273 shares of the game software company’s stock after purchasing an additional 501,989 shares during the quarter. Panagora Asset Management Inc.’s holdings in Electronic Arts were worth $82,608,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of EA. Brighton Jones LLC lifted its position in shares of Electronic Arts by 9.4% during the 4th quarter. Brighton Jones LLC now owns 3,420 shares of the game software company’s stock valued at $500,000 after buying an additional 294 shares in the last quarter. Beta Wealth Group Inc. raised its position in Electronic Arts by 3.0% during the first quarter. Beta Wealth Group Inc. now owns 3,503 shares of the game software company’s stock worth $506,000 after acquiring an additional 101 shares during the period. Blair William & Co. IL raised its position in Electronic Arts by 25.7% during the first quarter. Blair William & Co. IL now owns 13,971 shares of the game software company’s stock worth $2,019,000 after acquiring an additional 2,855 shares during the period. Raiffeisen Bank International AG lifted its holdings in Electronic Arts by 9.8% during the first quarter. Raiffeisen Bank International AG now owns 40,669 shares of the game software company’s stock valued at $5,867,000 after purchasing an additional 3,641 shares in the last quarter. Finally, ING Groep NV lifted its holdings in Electronic Arts by 3,477.8% during the first quarter. ING Groep NV now owns 1,163,747 shares of the game software company’s stock valued at $168,185,000 after purchasing an additional 1,131,220 shares in the last quarter. 90.23% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

EA has been the subject of a number of research reports. Weiss Ratings reissued a “hold (c)” rating on shares of Electronic Arts in a research note on Wednesday, October 8th. DZ Bank lowered Electronic Arts from a “strong-buy” rating to a “strong sell” rating in a research note on Monday, September 29th. HSBC cut Electronic Arts from a “buy” rating to a “hold” rating and set a $191.00 target price for the company. in a report on Monday, September 29th. Arete Research set a $192.00 price target on Electronic Arts in a research note on Tuesday, August 5th. Finally, Zacks Research cut Electronic Arts from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, November 19th. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, twenty-six have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $181.64.

Electronic Arts Trading Up 0.0%

EA opened at $201.93 on Monday. The firm has a market capitalization of $50.50 billion, a price-to-earnings ratio of 59.04, a price-to-earnings-growth ratio of 3.04 and a beta of 0.74. The company’s 50 day simple moving average is $198.30 and its two-hundred day simple moving average is $172.58. Electronic Arts Inc. has a 1-year low of $115.21 and a 1-year high of $203.75. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.84 and a quick ratio of 0.84.

Electronic Arts (NASDAQ:EA) last posted its quarterly earnings results on Tuesday, October 28th. The game software company reported $0.65 EPS for the quarter, missing the consensus estimate of $0.72 by ($0.07). Electronic Arts had a net margin of 12.14% and a return on equity of 15.30%. The company had revenue of $1.84 billion during the quarter, compared to analyst estimates of $1.88 billion. During the same period in the prior year, the business posted $1.11 EPS. Electronic Arts’s revenue for the quarter was down 12.6% compared to the same quarter last year. Analysts expect that Electronic Arts Inc. will post 4.71 EPS for the current fiscal year.

Electronic Arts Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 23rd. Shareholders of record on Wednesday, December 3rd will be paid a $0.19 dividend. The ex-dividend date of this dividend is Wednesday, December 3rd. This represents a $0.76 dividend on an annualized basis and a dividend yield of 0.4%. Electronic Arts’s dividend payout ratio (DPR) is 22.22%.

Insider Buying and Selling

In other news, insider Laura Miele sold 2,500 shares of the business’s stock in a transaction dated Wednesday, October 1st. The shares were sold at an average price of $201.79, for a total transaction of $504,475.00. Following the transaction, the insider owned 53,092 shares of the company’s stock, valued at approximately $10,713,434.68. The trade was a 4.50% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Jeff Huber sold 79,381 shares of the company’s stock in a transaction dated Friday, November 21st. The shares were sold at an average price of $201.17, for a total transaction of $15,969,075.77. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 137,369 shares of company stock worth $27,307,702 in the last quarter. 0.24% of the stock is currently owned by insiders.

Electronic Arts Company 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.