Electronic Arts Inc. $EA Shares Sold by Rafferty Asset Management LLC

Rafferty Asset Management LLC trimmed its position in shares of Electronic Arts Inc. (NASDAQ:EA) by 7.8% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 89,927 shares of the game software company’s stock after selling 7,634 shares during the period. Rafferty Asset Management LLC’s holdings in Electronic Arts were worth $18,138,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. State Street Corp increased its stake in Electronic Arts by 5.8% during the second quarter. State Street Corp now owns 17,072,959 shares of the game software company’s stock worth $2,726,552,000 after acquiring an additional 932,024 shares during the last quarter. Ameriprise Financial Inc. increased its position in Electronic Arts by 44.6% during the 2nd quarter. Ameriprise Financial Inc. now owns 4,217,029 shares of the game software company’s stock worth $673,393,000 after purchasing an additional 1,300,336 shares in the last quarter. Invesco Ltd. increased its position in Electronic Arts by 10.1% during the 2nd quarter. Invesco Ltd. now owns 4,112,305 shares of the game software company’s stock worth $656,735,000 after purchasing an additional 378,824 shares in the last quarter. First Trust Advisors LP raised its holdings in Electronic Arts by 17.0% in the second quarter. First Trust Advisors LP now owns 2,430,876 shares of the game software company’s stock valued at $388,211,000 after buying an additional 353,327 shares during the period. Finally, Arrowstreet Capital Limited Partnership lifted its position in Electronic Arts by 50.3% during the second quarter. Arrowstreet Capital Limited Partnership now owns 2,365,221 shares of the game software company’s stock valued at $377,726,000 after buying an additional 791,978 shares in the last quarter. Institutional investors and hedge funds own 90.23% of the company’s stock.

Electronic Arts Price Performance

Shares of NASDAQ EA opened at $200.57 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 company has a market capitalization of $50.19 billion, a price-to-earnings ratio of 75.40, a price-to-earnings-growth ratio of 2.39 and a beta of 0.74. Electronic Arts Inc. has a twelve month low of $128.02 and a twelve month high of $204.88. The business has a 50 day simple moving average of $202.81 and a 200-day simple moving average of $195.21.

Electronic Arts Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 18th. Investors of record on Wednesday, February 25th will be paid a dividend of $0.19 per share. The ex-dividend date is Wednesday, February 25th. This represents a $0.76 annualized dividend and a yield of 0.4%. Electronic Arts’s dividend payout ratio is 28.57%.

Insider Buying and Selling

In other news, insider Vijayanthimala Singh sold 1,200 shares of the company’s stock in a transaction dated Tuesday, February 17th. The shares were sold at an average price of $200.63, for a total transaction of $240,756.00. Following the completion of the transaction, the insider owned 31,160 shares in the company, valued at approximately $6,251,630.80. This represents a 3.71% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Laura Miele sold 2,500 shares of the stock in a transaction dated Tuesday, February 17th. The stock was sold at an average price of $199.53, for a total transaction of $498,825.00. Following the completion of the sale, the insider directly owned 48,343 shares in the company, valued at approximately $9,645,878.79. This trade represents a 4.92% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 27,600 shares of company stock worth $5,589,823. Company insiders own 0.24% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have commented on EA. Zacks Research cut Electronic Arts from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, November 19th. Citigroup dropped their price objective on Electronic Arts from $207.00 to $202.00 and set a “neutral” rating on the stock in a report on Wednesday, February 4th. Finally, UBS Group reaffirmed a “neutral” rating on shares of Electronic Arts in a research report on Wednesday, February 4th. Four 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. According to MarketBeat, Electronic Arts currently has a consensus rating of “Hold” and an average target price of $186.95.

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.