Cinctive Capital Management LP Sells 251,366 Shares of Electronic Arts Inc. (NASDAQ:EA)

Cinctive Capital Management LP lowered its position in Electronic Arts Inc. (NASDAQ:EA) by 84.7% in the third quarter, HoldingsChannel.com reports. The fund owned 45,232 shares of the game software company’s stock after selling 251,366 shares during the quarter. Cinctive Capital Management LP’s holdings in Electronic Arts were worth $6,488,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Ashton Thomas Securities LLC bought a new position in shares of Electronic Arts in the third quarter worth about $25,000. Opal Wealth Advisors LLC acquired a new stake in shares of Electronic Arts in the second quarter valued at approximately $28,000. Family Firm Inc. bought a new position in Electronic Arts in the 2nd quarter worth approximately $33,000. Reston Wealth Management LLC acquired a new position in Electronic Arts during the 3rd quarter worth $36,000. Finally, Gradient Investments LLC boosted its position in Electronic Arts by 592.1% in the 2nd quarter. Gradient Investments LLC now owns 263 shares of the game software company’s stock valued at $37,000 after buying an additional 225 shares during the last quarter. Institutional investors own 90.23% of the company’s stock.

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 value of $151,700.00. Following the completion of the sale, the insider now directly 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 document filed with the SEC, which is available through the SEC website. Also, CEO Andrew Wilson sold 2,500 shares of the stock in a transaction on Wednesday, September 25th. The stock was sold at an average price of $141.50, for a total value of $353,750.00. Following the transaction, the chief executive officer now owns 54,247 shares in the company, valued at $7,675,950.50. The trade was a 4.41 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 20,000 shares of company stock valued at $3,073,520 over the last ninety days. 0.22% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several brokerages have weighed in on EA. Benchmark reissued a “buy” rating and set a $163.00 price objective on shares of Electronic Arts in a report on Wednesday, October 30th. Morgan Stanley reissued an “equal weight” rating and set a $150.00 price target on shares of Electronic Arts in a research note on Wednesday, September 18th. UBS Group lifted their target price on shares of Electronic Arts from $155.00 to $160.00 and gave the stock a “neutral” rating in a report on Wednesday, October 30th. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and issued a $160.00 price target on shares of Electronic Arts in a research note on Wednesday, September 18th. Finally, BNP Paribas raised Electronic Arts to a “strong-buy” rating in a research note on Wednesday, October 9th. Eight research analysts have rated the stock with a hold rating, twelve have given a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, Electronic Arts presently has a consensus rating of “Moderate Buy” and an average target price of $165.37.

Electronic Arts Trading Up 0.3 %

Electronic Arts stock opened at $163.67 on Monday. The stock has a 50-day simple moving average of $151.54 and a 200 day simple moving average of $145.14. The stock has a market capitalization of $42.93 billion, a P/E ratio of 42.07, a PEG ratio of 2.14 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 Inc. has a 52 week low of $124.92 and a 52 week high of $168.50.

Electronic Arts Announces Dividend

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 $0.19 dividend. The ex-dividend date of this dividend is Wednesday, November 27th. This represents a $0.76 annualized dividend and a dividend yield of 0.46%. Electronic Arts’s dividend payout ratio is currently 19.54%.

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.