Elevation Point Wealth Partners LLC Has $564,000 Stock Holdings in Electronic Arts Inc. $EA

Elevation Point Wealth Partners LLC trimmed its position in shares of Electronic Arts Inc. (NASDAQ:EA) by 27.0% in the 2nd quarter, Holdings Channel.com reports. The fund owned 3,529 shares of the game software company’s stock after selling 1,305 shares during the quarter. Elevation Point Wealth Partners LLC’s holdings in Electronic Arts were worth $564,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Salomon & Ludwin LLC raised its stake in shares of Electronic Arts by 70.1% during the 2nd quarter. Salomon & Ludwin LLC now owns 165 shares of the game software company’s stock worth $26,000 after purchasing an additional 68 shares in the last quarter. MTM Investment Management LLC bought a new position in Electronic Arts during the second quarter valued at approximately $30,000. Frazier Financial Advisors LLC raised its position in Electronic Arts by 328.9% during the second quarter. Frazier Financial Advisors LLC now owns 193 shares of the game software company’s stock valued at $31,000 after acquiring an additional 148 shares in the last quarter. NewSquare Capital LLC lifted its stake in Electronic Arts by 67.5% in the second quarter. NewSquare Capital LLC now owns 196 shares of the game software company’s stock valued at $31,000 after acquiring an additional 79 shares during the last quarter. Finally, Bank of Jackson Hole Trust grew its position in Electronic Arts by 56.4% in the first quarter. Bank of Jackson Hole Trust now owns 208 shares of the game software company’s stock worth $30,000 after acquiring an additional 75 shares in the last quarter. Hedge funds and other institutional investors own 90.23% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on EA shares. Benchmark reaffirmed a “buy” rating on shares of Electronic Arts in a research note on Wednesday, October 29th. UBS Group set a $210.00 price target on Electronic Arts and gave the stock a “neutral” rating in a research report on Tuesday, September 30th. Arete upgraded Electronic Arts from a “neutral” rating to a “buy” rating and set a $192.00 price target for the company in a research note on Tuesday, August 5th. Roth Capital downgraded Electronic Arts from a “buy” rating to a “neutral” rating and raised their price objective for the company from $185.00 to $210.00 in a research note on Thursday, October 2nd. Finally, Citigroup boosted their target price on Electronic Arts from $206.00 to $207.00 and gave the stock a “neutral” rating in a report on Thursday, October 30th. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, twenty-six have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $181.64.

Electronic Arts Price Performance

NASDAQ EA opened at $201.93 on Friday. Electronic Arts Inc. has a twelve month low of $115.21 and a twelve month high of $203.75. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.84 and a current ratio of 0.84. The stock has a market capitalization of $50.50 billion, a PE ratio of 59.04, a P/E/G ratio of 3.04 and a beta of 0.74. The stock has a 50-day simple moving average of $198.30 and a 200 day simple moving average of $172.24.

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

Electronic Arts Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 23rd. Shareholders of record on Wednesday, December 3rd will be issued 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 yield of 0.4%. Electronic Arts’s dividend payout ratio is 22.22%.

Insider Transactions at Electronic Arts

In other news, insider Vijayanthimala Singh sold 1,200 shares of the business’s stock in a transaction dated Monday, November 17th. The shares were sold at an average price of $201.42, for a total transaction of $241,704.00. Following the transaction, the insider owned 34,760 shares in the company, valued at approximately $7,001,359.20. The trade was a 3.34% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Stuart Canfield sold 1,500 shares of the company’s stock in a transaction dated Thursday, November 20th. The shares were sold at an average price of $201.65, for a total transaction of $302,475.00. Following the transaction, the chief financial officer directly owned 5,595 shares of the company’s stock, valued at $1,128,231.75. This represents a 21.14% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 137,369 shares of company stock worth $27,307,702. 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.