Electronic Arts Inc. $EA Shares Sold by Bank of Nova Scotia

Bank of Nova Scotia cut its position in Electronic Arts Inc. (NASDAQ:EA) by 34.4% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 295,941 shares of the game software company’s stock after selling 155,247 shares during the period. Bank of Nova Scotia owned 0.12% of Electronic Arts worth $60,333,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. Ascentis Independent Advisors purchased a new position in Electronic Arts in the first quarter valued at $27,000. MV Capital Management Inc. purchased a new stake in Electronic Arts during the 4th quarter worth about $28,000. Asset Planning Inc purchased a new stake in Electronic Arts during the 1st quarter worth about $32,000. Whipplewood Advisors LLC acquired a new position in shares of Electronic Arts during the 1st quarter worth about $32,000. Finally, Fideuram Asset Management Ireland dac acquired a new position in shares of Electronic Arts during the 4th quarter worth about $44,000. 90.23% of the stock is currently owned by institutional investors and hedge funds.

Electronic Arts Stock Up 0.0%

EA opened at $209.08 on Friday. Electronic Arts Inc. has a one year low of $146.97 and a one year high of $209.34. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.05 and a current ratio of 1.05. The stock has a market capitalization of $52.43 billion, a P/E ratio of 59.91, a price-to-earnings-growth ratio of 2.34 and a beta of 0.64. The business’s 50-day simple moving average is $204.25 and its 200-day simple moving average is $202.80.

Electronic Arts Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, June 17th. Shareholders of record on Wednesday, May 27th were given a dividend of $0.19 per share. 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 21.78%.

Insider Buying and Selling

In other Electronic Arts news, CEO Andrew Wilson sold 5,000 shares of the business’s stock in a transaction that occurred on Monday, June 15th. The stock was sold at an average price of $203.12, for a total value of $1,015,600.00. Following the completion of the sale, the chief executive officer owned 80,974 shares in the company, valued at approximately $16,447,438.88. The trade was a 5.82% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Jacob J. Schatz sold 5,000 shares of the stock in a transaction that occurred on Wednesday, May 20th. The shares were sold at an average price of $201.19, for a total value of $1,005,950.00. Following the completion of the sale, the executive vice president directly owned 42,287 shares of the company’s stock, valued at $8,507,721.53. The trade was a 10.57% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold 31,206 shares of company stock valued at $6,292,058 in the last 90 days. Company insiders own 0.24% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the company. Citigroup raised their target price on Electronic Arts from $202.00 to $204.00 and gave the stock a “neutral” rating in a research report on Thursday, May 7th. Wall Street Zen raised Electronic Arts to a “hold” rating in a report on Saturday, June 6th. Argus lowered shares of Electronic Arts from a “buy” rating to a “hold” rating in a research note on Thursday, May 28th. Zacks Research cut shares of Electronic Arts from a “hold” rating to a “strong sell” rating in a report on Monday, July 13th. Finally, Weiss Ratings upgraded shares of Electronic Arts from a “hold (c)” rating to a “hold (c+)” rating in a research report on Monday, May 18th. Two investment analysts have rated the stock with a Buy rating, sixteen have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat, Electronic Arts has a consensus rating of “Hold” and an average target price of $196.64.

Electronic Arts 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.