Coastline Trust Co Sells 1,391 Shares of Electronic Arts Inc. (NASDAQ:EA)

Coastline Trust Co decreased its stake in Electronic Arts Inc. (NASDAQ:EA) by 14.7% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 8,085 shares of the game software company’s stock after selling 1,391 shares during the period. Coastline Trust Co’s holdings in Electronic Arts were worth $1,160,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Ashton Thomas Securities LLC bought a new position in shares of Electronic Arts in the 3rd quarter valued at $25,000. Opal Wealth Advisors LLC acquired a new position in Electronic Arts in the 2nd quarter worth about $28,000. Family Firm Inc. bought a new position in Electronic Arts in the second quarter valued at about $33,000. Reston Wealth Management LLC acquired a new stake in shares of Electronic Arts during the third quarter valued at about $36,000. Finally, Gradient Investments LLC grew its holdings in shares of Electronic Arts by 592.1% during the second quarter. Gradient Investments LLC now owns 263 shares of the game software company’s stock worth $37,000 after purchasing an additional 225 shares during the last quarter. Institutional investors and hedge funds own 90.23% of the company’s stock.

Electronic Arts Stock Down 1.7 %

Shares of NASDAQ EA opened at $161.36 on Friday. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.43 and a quick ratio of 1.43. Electronic Arts Inc. has a 1 year low of $124.92 and a 1 year high of $164.42. The stock has a market capitalization of $42.32 billion, a P/E ratio of 41.48, a P/E/G ratio of 2.13 and a beta of 0.78. The company has a 50-day moving average price of $147.17 and a 200-day moving average price of $142.44.

Electronic Arts Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 18th. Shareholders of record on Wednesday, November 27th will be issued a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a yield of 0.47%. The ex-dividend date of this dividend is Wednesday, November 27th. Electronic Arts’s dividend payout ratio is currently 19.54%.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on EA shares. JPMorgan Chase & Co. cut their target price 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. Raymond James lifted their price target on shares of Electronic Arts from $155.00 to $170.00 and gave the stock an “outperform” rating in a report on Wednesday, July 31st. Robert W. Baird increased their price objective on Electronic Arts from $170.00 to $175.00 and gave the company an “outperform” rating in a report on Wednesday, October 30th. Morgan Stanley reaffirmed an “equal weight” rating and set a $150.00 target price on shares of Electronic Arts in a research report on Wednesday, September 18th. Finally, Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and issued a $160.00 price target on shares of Electronic Arts in a research report on Wednesday, September 18th. Eight investment analysts have rated the stock with a hold rating, twelve have issued a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, Electronic Arts presently has a consensus rating of “Moderate Buy” and a consensus target price of $165.37.

Insider Transactions at Electronic Arts

In other Electronic Arts news, CFO Stuart Canfield sold 1,260 shares of Electronic Arts stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $148.37, for a total value of $186,946.20. Following the sale, the chief financial officer now owns 7,553 shares of the company’s stock, valued at approximately $1,120,638.61. The trade was a 14.30 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Vijayanthimala Singh sold 1,000 shares of the stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $151.70, for a total value of $151,700.00. Following the transaction, the insider now directly owns 30,190 shares of the company’s stock, valued at approximately $4,579,823. This trade represents a 3.21 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 26,144 shares of company stock valued at $3,886,282 over the last ninety days. 0.22% of the stock is currently owned by insiders.

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.