Electronic Arts Inc. (NASDAQ:EA) Shares Sold by SouthState Corp

SouthState Corp reduced its stake in Electronic Arts Inc. (NASDAQ:EA) by 19.1% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,551 shares of the game software company’s stock after selling 836 shares during the period. SouthState Corp’s holdings in Electronic Arts were worth $509,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in EA. O Shaughnessy Asset Management LLC grew its stake in shares of Electronic Arts by 8.1% during the first quarter. O Shaughnessy Asset Management LLC now owns 12,212 shares of the game software company’s stock valued at $1,620,000 after acquiring an additional 917 shares in the last quarter. Bessemer Group Inc. grew its stake in shares of Electronic Arts by 97.5% during the first quarter. Bessemer Group Inc. now owns 19,751 shares of the game software company’s stock valued at $2,620,000 after acquiring an additional 9,753 shares in the last quarter. Lake Street Advisors Group LLC acquired a new stake in shares of Electronic Arts during the first quarter valued at about $261,000. American International Group Inc. grew its stake in shares of Electronic Arts by 6.7% during the first quarter. American International Group Inc. now owns 95,226 shares of the game software company’s stock valued at $12,634,000 after acquiring an additional 5,973 shares in the last quarter. Finally, Pitcairn Co. grew its stake in shares of Electronic Arts by 5.9% during the first quarter. Pitcairn Co. now owns 4,269 shares of the game software company’s stock valued at $566,000 after acquiring an additional 237 shares in the last quarter. 90.23% of the stock is currently owned by institutional investors and hedge funds.

Electronic Arts Stock Performance

EA opened at $166.13 on Wednesday. The business’s 50 day moving average is $148.01 and its 200-day moving average is $143.16. The stock has a market cap of $43.57 billion, a PE ratio of 42.71, a price-to-earnings-growth ratio of 2.11 and a beta of 0.78. The company has a current ratio of 1.43, a quick ratio of 1.43 and a debt-to-equity ratio of 0.25. Electronic Arts Inc. has a twelve month low of $124.92 and a twelve month high of $166.40.

Electronic Arts Dividend Announcement

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

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on EA. Argus raised their target price on Electronic Arts from $161.00 to $183.00 and gave the company a “buy” rating in a research note on Thursday, November 7th. Roth Mkm increased their price target on shares of Electronic Arts from $154.00 to $158.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 30th. StockNews.com raised shares of Electronic Arts from a “buy” rating to a “strong-buy” rating in a research report on Thursday, October 31st. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and set a $160.00 price target on shares of Electronic Arts in a research report on Wednesday, September 18th. Finally, Robert W. Baird increased their price target on shares of Electronic Arts from $170.00 to $175.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 30th. Eight analysts have rated the stock with a hold rating, twelve have given a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, Electronic Arts currently has a consensus rating of “Moderate Buy” and a consensus target price of $165.37.

Insider Activity

In related news, CEO Andrew Wilson sold 2,500 shares of the firm’s stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $148.88, for a total transaction of $372,200.00. Following the transaction, the chief executive officer now owns 56,747 shares in the company, valued at $8,448,493.36. This trade represents a 4.22 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Vijayanthimala Singh sold 7,384 shares of Electronic Arts stock in a transaction that occurred on Wednesday, August 28th. The stock was sold at an average price of $149.91, for a total transaction of $1,106,935.44. Following the completion of the transaction, the insider now owns 31,190 shares in the company, valued at approximately $4,675,692.90. This trade represents a 19.14 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 26,384 shares of company stock valued at $3,944,285. Insiders own 0.22% of the company’s stock.

About Electronic Arts

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.