Pallas Capital Advisors LLC Lowers Position in Electronic Arts Inc. (NASDAQ:EA)

Pallas Capital Advisors LLC lowered its stake in shares of Electronic Arts Inc. (NASDAQ:EA) by 22.1% during the third quarter, HoldingsChannel.com reports. The firm owned 2,097 shares of the game software company’s stock after selling 594 shares during the period. Pallas Capital Advisors LLC’s holdings in Electronic Arts were worth $304,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the stock. Norden Group LLC purchased a new stake in Electronic Arts during the first quarter valued at about $1,236,000. First Trust Direct Indexing L.P. grew its holdings in shares of Electronic Arts by 7.3% during the 1st quarter. First Trust Direct Indexing L.P. now owns 5,430 shares of the game software company’s stock worth $720,000 after purchasing an additional 369 shares during the period. BNP Paribas acquired a new stake in Electronic Arts during the 1st quarter worth approximately $121,000. Daiwa Securities Group Inc. raised its holdings in Electronic Arts by 3.0% in the first quarter. Daiwa Securities Group Inc. now owns 46,935 shares of the game software company’s stock valued at $6,227,000 after buying an additional 1,378 shares during the period. Finally, FORA Capital LLC lifted its position in Electronic Arts by 209.7% during the first quarter. FORA Capital LLC now owns 45,985 shares of the game software company’s stock valued at $6,101,000 after buying an additional 31,136 shares in the last quarter. Institutional investors and hedge funds own 90.23% of the company’s stock.

Insider Buying and Selling at Electronic Arts

In other news, CEO Andrew Wilson sold 2,500 shares of the stock in a transaction that occurred on Wednesday, September 25th. The stock was sold at an average price of $141.50, for a total transaction of $353,750.00. Following the sale, the chief executive officer now directly owns 54,247 shares in the company, valued at approximately $7,675,950.50. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Electronic Arts news, insider Vijayanthimala Singh sold 1,000 shares of the company’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $151.70, for a total value of $151,700.00. Following the completion of the transaction, the insider now owns 30,190 shares in the company, valued at approximately $4,579,823. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Andrew Wilson sold 2,500 shares of the firm’s stock in a transaction that occurred on Wednesday, September 25th. The shares were sold at an average price of $141.50, for a total transaction of $353,750.00. Following the completion of the sale, the chief executive officer now owns 54,247 shares in the company, valued at $7,675,950.50. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 22,644 shares of company stock worth $3,340,377 over the last ninety days. Company insiders own 0.22% of the company’s stock.

Electronic Arts Stock Performance

EA stock opened at $150.85 on Friday. The firm has a market cap of $39.85 billion, a P/E ratio of 38.78, a P/E/G ratio of 1.97 and a beta of 0.79. The stock’s 50 day simple moving average is $144.89 and its 200 day simple moving average is $140.02. The company has a current ratio of 1.45, a quick ratio of 1.45 and a debt-to-equity ratio of 0.25. Electronic Arts Inc. has a 12-month low of $121.63 and a 12-month high of $153.51.

Electronic Arts (NASDAQ:EA) last issued its earnings results on Tuesday, July 30th. The game software company reported $0.09 earnings per share for the quarter, topping analysts’ consensus estimates of $0.03 by $0.06. Electronic Arts had a net margin of 15.77% and a return on equity of 16.34%. The company had revenue of $1.26 billion for the quarter, compared to analysts’ expectations of $1.21 billion. As a group, equities research analysts predict that Electronic Arts Inc. will post 5.93 EPS for the current year.

Electronic Arts Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 18th. Shareholders of record on Wednesday, November 27th will be issued a $0.19 dividend. The ex-dividend date of this dividend is Wednesday, November 27th. This represents a $0.76 dividend on an annualized basis and a yield of 0.50%. Electronic Arts’s dividend payout ratio is currently 19.54%.

Wall Street Analysts Forecast Growth

EA has been the topic of a number of research reports. BMO Capital Markets reissued an “outperform” rating and issued a $160.00 target price (up previously from $154.00) on shares of Electronic Arts in a research note on Wednesday. Raymond James raised their price objective on Electronic Arts from $155.00 to $170.00 and gave the company an “outperform” rating in a research report on Wednesday, July 31st. Jefferies Financial Group initiated coverage on Electronic Arts in a research report on Thursday, July 11th. They issued a “buy” rating and a $165.00 target price for the company. DZ Bank upgraded Electronic Arts from a “hold” rating to a “buy” rating and raised their target price for the company from $135.00 to $177.00 in a report on Thursday. Finally, Deutsche Bank Aktiengesellschaft restated a “hold” rating and issued a $160.00 price target on shares of Electronic Arts in a report on Wednesday, September 18th. Eight equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $164.39.

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.