Insider Selling: Electronic Arts (NASDAQ:EA) CFO Sells 1,500 Shares of Stock

Electronic Arts Inc. (NASDAQ:EA) CFO Stuart Canfield sold 1,500 shares of Electronic Arts stock in a transaction on Thursday, November 20th. The shares were sold at an average price of $201.65, for a total value of $302,475.00. Following the completion of the sale, the chief financial officer directly owned 5,595 shares of the company’s stock, valued at $1,128,231.75. This trade represents a 21.14% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website.

Stuart Canfield also recently made the following trade(s):

• On Monday, September 29th, Stuart Canfield sold 6,500 shares of Electronic Arts stock. The stock was sold at an average price of $203.40, for a total value of $1,322,100.00.
• On Friday, September 26th, Stuart Canfield sold 3,500 shares of Electronic Arts stock. The shares were sold at an average price of $187.80, for a total transaction of $657,300.00.

Electronic Arts Trading Down 0.2%

Shares of NASDAQ EA traded down $0.43 during mid-day trading on Friday, hitting $200.69. The company’s stock had a trading volume of 3,904,693 shares, compared to its average volume of 3,456,198. Electronic Arts Inc. has a one year low of $115.21 and a one year high of $203.75. The company’s fifty day simple moving average is $194.84 and its 200-day simple moving average is $170.26. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.84 and a quick ratio of 0.84. The stock has a market cap of $50.05 billion, a price-to-earnings ratio of 58.68, a price-to-earnings-growth ratio of 3.04 and a beta of 0.74.

Electronic Arts (NASDAQ:EA) last announced its quarterly earnings data on Tuesday, October 28th. The game software company reported $0.65 earnings per share for the quarter, missing the consensus estimate 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 quarter in the prior year, the company earned $1.11 earnings per share. The company’s quarterly revenue was down 12.6% on a year-over-year basis. On average, sell-side analysts anticipate that Electronic Arts Inc. will post 4.71 earnings per share for the current fiscal year.

Electronic Arts Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 23rd. Stockholders of record on Wednesday, December 3rd will be given a dividend of $0.19 per share. 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, December 3rd. Electronic Arts’s dividend payout ratio (DPR) is currently 22.22%.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on EA. Bank of America increased their price objective on Electronic Arts from $166.00 to $168.00 and gave the stock a “neutral” rating in a report on Wednesday, July 30th. HSBC cut shares of Electronic Arts from a “buy” rating to a “hold” rating and set a $191.00 target price for the company. in a report on Monday, September 29th. Jefferies Financial Group lowered shares of Electronic Arts from a “buy” rating to a “hold” rating and lifted their price target for the company from $200.00 to $210.00 in a research note on Tuesday, September 30th. TD Cowen downgraded shares of Electronic Arts from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, October 1st. Finally, Benchmark restated a “buy” rating on shares of Electronic Arts in a report on Wednesday, October 29th. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, twenty-six have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, Electronic Arts currently has a consensus rating of “Hold” and a consensus target price of $181.64.

Hedge Funds Weigh In On Electronic Arts

A number of institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. increased its holdings in shares of Electronic Arts by 0.5% during the first quarter. Vanguard Group Inc. now owns 29,052,085 shares of the game software company’s stock worth $4,198,607,000 after buying an additional 150,438 shares in the last quarter. State Street Corp grew its position in Electronic Arts by 5.8% during the 2nd 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. Pentwater Capital Management LP acquired a new position in Electronic Arts in the 3rd quarter worth about $968,160,000. Ameriprise Financial Inc. raised its position in Electronic Arts by 8.9% in the third quarter. Ameriprise Financial Inc. now owns 4,591,869 shares of the game software company’s stock valued at $926,194,000 after purchasing an additional 374,840 shares during the last quarter. Finally, Ninety One UK Ltd boosted its stake in shares of Electronic Arts by 4.6% during the second quarter. Ninety One UK Ltd now owns 4,355,950 shares of the game software company’s stock valued at $695,645,000 after purchasing an additional 193,442 shares in the last quarter. 90.23% of the stock is currently owned by institutional investors and hedge funds.

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.