Martingale Asset Management L P Cuts Stock Holdings in Electronic Arts Inc. $EA

Martingale Asset Management L P lowered its stake in shares of Electronic Arts Inc. (NASDAQ:EA) by 19.3% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 116,080 shares of the game software company’s stock after selling 27,697 shares during the quarter. Martingale Asset Management L P’s holdings in Electronic Arts were worth $23,413,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Walter Public Investments Inc. boosted its holdings in Electronic Arts by 41.7% during the third quarter. Walter Public Investments Inc. now owns 48,017 shares of the game software company’s stock worth $9,685,000 after purchasing an additional 14,134 shares during the last quarter. NatWest Group plc purchased a new stake in Electronic Arts in the 3rd quarter valued at about $10,414,000. Great Lakes Advisors LLC purchased a new stake in Electronic Arts in the 3rd quarter valued at about $1,025,000. Principal Financial Group Inc. lifted its position in shares of Electronic Arts by 35.4% during the 3rd quarter. Principal Financial Group Inc. now owns 390,971 shares of the game software company’s stock worth $78,859,000 after buying an additional 102,248 shares in the last quarter. Finally, OPTIMAS CAPITAL Ltd bought a new position in shares of Electronic Arts during the 3rd quarter worth approximately $1,815,000. 90.23% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Electronic Arts

In other Electronic Arts news, insider Laura Miele sold 2,500 shares of the firm’s stock in a transaction on Tuesday, February 17th. The stock was sold at an average price of $199.53, for a total value of $498,825.00. Following the completion of the sale, the insider directly owned 48,343 shares of the company’s stock, valued at $9,645,878.79. This trade represents a 4.92% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CEO Andrew Wilson sold 5,000 shares of the business’s stock in a transaction on Tuesday, February 17th. The shares were sold at an average price of $199.50, for a total value of $997,500.00. Following the completion of the sale, the chief executive officer owned 33,858 shares in the company, valued at approximately $6,754,671. The trade was a 12.87% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 27,600 shares of company stock worth $5,589,823. Company insiders own 0.24% of the company’s stock.

Wall Street Analyst Weigh In

EA has been the subject of several recent analyst reports. Zacks Research lowered Electronic Arts from a “strong-buy” rating to a “hold” rating in a report on Wednesday, November 19th. Citigroup dropped their price target 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 reissued a “neutral” rating on shares of Electronic Arts in a research report on Wednesday, February 4th. Three research analysts have rated the stock with a Buy rating, nineteen have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $188.30.

Electronic Arts Stock Performance

Shares of EA stock opened at $199.08 on Friday. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.93 and a current ratio of 0.93. The firm has a market cap of $49.82 billion, a price-to-earnings ratio of 74.84, a P/E/G ratio of 2.38 and a beta of 0.75. Electronic Arts Inc. has a 52 week low of $131.15 and a 52 week high of $204.88. The firm’s 50-day simple moving average is $202.04 and its two-hundred day simple moving average is $196.74.

Electronic Arts Dividend Announcement

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

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.