Penserra Capital Management LLC Reduces Holdings in Electronic Arts Inc. (NASDAQ:EA)

Penserra Capital Management LLC trimmed its holdings in shares of Electronic Arts Inc. (NASDAQ:EA) by 3.7% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 8,506 shares of the game software company’s stock after selling 329 shares during the quarter. Penserra Capital Management LLC’s holdings in Electronic Arts were worth $1,220,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Huntington National Bank lifted its position in shares of Electronic Arts by 983.4% during the 3rd quarter. Huntington National Bank now owns 257,902 shares of the game software company’s stock valued at $36,993,000 after buying an additional 234,098 shares in the last quarter. Park Avenue Securities LLC lifted its holdings in Electronic Arts by 34.9% during the second quarter. Park Avenue Securities LLC now owns 14,227 shares of the game software company’s stock valued at $1,982,000 after purchasing an additional 3,681 shares in the last quarter. Greenwood Capital Associates LLC bought a new position in shares of Electronic Arts in the third quarter worth approximately $5,597,000. Chesapeake Capital Corp IL purchased a new stake in shares of Electronic Arts in the third quarter worth $950,000. Finally, Czech National Bank raised its position in shares of Electronic Arts by 8.3% during the 2nd quarter. Czech National Bank now owns 46,360 shares of the game software company’s stock valued at $6,459,000 after purchasing an additional 3,554 shares during the period. 90.23% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts recently weighed in on EA shares. Morgan Stanley reaffirmed an “equal weight” rating and issued a $150.00 target price on shares of Electronic Arts in a report on Wednesday, September 18th. BNP Paribas upgraded Electronic Arts to a “strong-buy” rating in a research report on Wednesday, October 9th. UBS Group lifted their target price on Electronic Arts from $155.00 to $160.00 and gave the company a “neutral” rating in a research note on Wednesday, October 30th. Robert W. Baird upped their price target on Electronic Arts from $170.00 to $175.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 30th. Finally, JPMorgan Chase & Co. reduced their price objective on shares of Electronic Arts from $155.00 to $150.00 and set a “neutral” rating on the stock in a research report on Wednesday, October 30th. Eight analysts have rated the stock with a hold rating, twelve have issued a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $165.37.

Electronic Arts Stock Performance

NASDAQ EA opened at $165.02 on Wednesday. The business’s 50 day moving average price is $149.71 and its 200-day moving average price is $144.23. Electronic Arts Inc. has a fifty-two week low of $124.92 and a fifty-two week high of $168.50. The company has a market cap of $43.28 billion, a P/E ratio of 42.42, a P/E/G ratio of 2.18 and a beta of 0.78. The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.43 and a current ratio of 1.43.

Electronic Arts Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 18th. Shareholders of record on Wednesday, November 27th will be given a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a yield of 0.46%. The ex-dividend date of this dividend is Wednesday, November 27th. Electronic Arts’s dividend payout ratio (DPR) is 19.54%.

Insider Activity

In related news, insider Vijayanthimala Singh sold 1,000 shares of the business’s stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $151.70, for a total transaction of $151,700.00. Following the completion of the transaction, the insider now owns 30,190 shares in the company, valued at $4,579,823. The trade was a 3.21 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Jacob J. Schatz sold 1,500 shares of the stock in a transaction on Monday, September 16th. The stock was sold at an average price of $146.58, for a total value of $219,870.00. Following the completion of the sale, the executive vice president now owns 26,360 shares in the company, valued at approximately $3,863,848.80. The trade was a 5.38 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 20,000 shares of company stock valued at $3,073,520. 0.22% of the stock is currently owned by company insiders.

Electronic Arts 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.