Avanza Fonder AB Invests $2.67 Million in Electronic Arts Inc. (NASDAQ:EA)

Avanza Fonder AB purchased a new position in Electronic Arts Inc. (NASDAQ:EA) in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund purchased 18,253 shares of the game software company’s stock, valued at approximately $2,670,000.

A number of other hedge funds also recently bought and sold shares of EA. D. E. Shaw & Co. Inc. increased its holdings in shares of Electronic Arts by 43.3% in the 2nd quarter. D. E. Shaw & Co. Inc. now owns 1,390,418 shares of the game software company’s stock worth $193,727,000 after purchasing an additional 420,382 shares in the last quarter. abrdn plc boosted its position in shares of Electronic Arts by 59.2% during the third quarter. abrdn plc now owns 858,840 shares of the game software company’s stock valued at $123,484,000 after buying an additional 319,335 shares during the last quarter. Caisse DE Depot ET Placement DU Quebec boosted its position in shares of Electronic Arts by 8,503.9% during the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 318,085 shares of the game software company’s stock valued at $45,626,000 after buying an additional 314,388 shares during the last quarter. Los Angeles Capital Management LLC bought a new stake in Electronic Arts in the 3rd quarter worth about $40,154,000. Finally, Huntington National Bank raised its position in Electronic Arts by 983.4% in the 3rd quarter. Huntington National Bank now owns 257,902 shares of the game software company’s stock worth $36,993,000 after buying an additional 234,098 shares during the last quarter. Institutional investors own 90.23% of the company’s stock.

Insider Buying and Selling

In other news, CEO Andrew Wilson sold 5,000 shares of the business’s stock in a transaction dated Wednesday, November 20th. The shares were sold at an average price of $166.47, for a total value of $832,350.00. Following the sale, the chief executive officer now directly owns 52,615 shares in the company, valued at $8,758,819.05. The trade was a 8.68 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Jacob J. Schatz sold 1,500 shares of the stock in a transaction dated Wednesday, January 15th. The shares were sold at an average price of $143.45, for a total transaction of $215,175.00. Following the completion of the transaction, the executive vice president now directly owns 23,386 shares of the company’s stock, valued at approximately $3,354,721.70. The trade was a 6.03 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 23,500 shares of company stock worth $3,637,660. 0.22% of the stock is owned by insiders.

Electronic Arts Stock Performance

NASDAQ EA opened at $142.00 on Friday. The company has a quick ratio of 1.43, a current 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 $168.50. The business has a 50-day moving average price of $155.38 and a 200-day moving average price of $149.04. The firm has a market cap of $37.24 billion, a price-to-earnings ratio of 36.50, a price-to-earnings-growth ratio of 1.84 and a beta of 0.80.

Electronic Arts Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, December 18th. Stockholders of record on Wednesday, November 27th were issued a $0.19 dividend. This represents a $0.76 annualized dividend and a dividend yield of 0.54%. The ex-dividend date of this dividend was Wednesday, November 27th. Electronic Arts’s dividend payout ratio (DPR) is presently 19.54%.

Analysts Set New Price Targets

A number of brokerages have weighed in on EA. JPMorgan Chase & Co. decreased their target price on shares of Electronic Arts from $155.00 to $150.00 and set a “neutral” rating for the company in a research note on Wednesday, October 30th. BNP Paribas upgraded Electronic Arts to a “strong-buy” rating in a research report on Wednesday, October 9th. Wedbush reissued an “outperform” rating and issued a $170.00 target price on shares of Electronic Arts in a research report on Friday, October 25th. BMO Capital Markets restated an “outperform” rating and set a $160.00 price target (up from $154.00) on shares of Electronic Arts in a research note on Wednesday, October 30th. Finally, Argus increased their price objective on shares of Electronic Arts from $161.00 to $183.00 and gave the stock a “buy” rating in a research note on Thursday, November 7th. Eight analysts have rated the stock with a hold rating, eleven have given a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $165.37.

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.