Eagle Rock Investment Company LLC Cuts Position in Electronic Arts Inc. $EA

Eagle Rock Investment Company LLC cut its holdings in Electronic Arts Inc. (NASDAQ:EA) by 41.9% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 10,227 shares of the game software company’s stock after selling 7,386 shares during the period. Eagle Rock Investment Company LLC’s holdings in Electronic Arts were worth $2,090,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the business. Dakota Wealth Management purchased a new stake in shares of Electronic Arts during the fourth quarter valued at approximately $269,000. Global X Japan Co. Ltd. boosted its position in Electronic Arts by 330.1% in the fourth quarter. Global X Japan Co. Ltd. now owns 7,605 shares of the game software company’s stock worth $1,554,000 after purchasing an additional 5,837 shares during the last quarter. Mather Group LLC. grew its stake in Electronic Arts by 25.7% in the 4th quarter. Mather Group LLC. now owns 1,307 shares of the game software company’s stock valued at $267,000 after purchasing an additional 267 shares during the period. Norden Group LLC grew its stake in Electronic Arts by 10.4% in the 4th quarter. Norden Group LLC now owns 1,735 shares of the game software company’s stock valued at $355,000 after purchasing an additional 163 shares during the period. Finally, Czech National Bank increased its position in shares of Electronic Arts by 3.5% during the 4th quarter. Czech National Bank now owns 59,188 shares of the game software company’s stock valued at $12,094,000 after purchasing an additional 1,995 shares during the last quarter. 90.23% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on the company. Citigroup lowered their target price on Electronic Arts from $207.00 to $202.00 and set a “neutral” rating on the stock in a research note on Wednesday, February 4th. UBS Group restated a “neutral” rating on shares of Electronic Arts in a report on Wednesday, February 4th. Three equities research analysts have rated the stock with a Buy rating, nineteen have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $188.30.

Electronic Arts Price Performance

Shares of NASDAQ EA opened at $202.01 on Friday. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 0.24. The stock has a fifty day simple moving average of $201.30 and a two-hundred day simple moving average of $199.06. Electronic Arts Inc. has a 1-year low of $131.15 and a 1-year high of $204.88. The firm has a market cap of $50.55 billion, a price-to-earnings ratio of 75.94, a price-to-earnings-growth ratio of 2.40 and a beta of 0.75.

Electronic Arts Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, March 18th. Stockholders of record on Wednesday, February 25th were paid a dividend of $0.19 per share. The ex-dividend date was Wednesday, February 25th. This represents a $0.76 annualized dividend and a dividend yield of 0.4%. Electronic Arts’s dividend payout ratio is presently 28.57%.

Insider Transactions at Electronic Arts

In related news, CEO Andrew Wilson sold 5,000 shares of the business’s stock in a transaction dated Monday, March 16th. The stock was sold at an average price of $199.95, for a total value of $999,750.00. Following the sale, the chief executive officer directly owned 28,858 shares in the company, valued at approximately $5,770,157.10. The trade was a 14.77% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Stuart Canfield sold 1,500 shares of the company’s stock in a transaction dated Tuesday, February 17th. The shares were sold at an average price of $199.90, for a total transaction of $299,850.00. Following the sale, the chief financial officer directly owned 5,897 shares in the company, valued at approximately $1,178,810.30. This trade represents a 20.28% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 27,600 shares of company stock worth $5,553,319. Insiders own 0.24% of the company’s stock.

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.