Penserra Capital Management LLC Grows Position in Electronic Arts Inc. (NASDAQ:EA)

Penserra Capital Management LLC grew its stake in shares of Electronic Arts Inc. (NASDAQ:EA) by 17.8% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 10,155 shares of the game software company’s stock after buying an additional 1,533 shares during the period. Penserra Capital Management LLC’s holdings in Electronic Arts were worth $1,466,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of EA. Putney Financial Group LLC acquired a new stake in shares of Electronic Arts during the fourth quarter worth $26,000. Opal Wealth Advisors LLC acquired a new stake in shares of Electronic Arts during the first quarter worth $28,000. LGT Financial Advisors LLC acquired a new stake in shares of Electronic Arts during the fourth quarter worth $33,000. Millstone Evans Group LLC acquired a new stake in shares of Electronic Arts during the fourth quarter worth $37,000. Finally, Wayfinding Financial LLC acquired a new stake in shares of Electronic Arts during the first quarter worth $39,000. Hedge funds and other institutional investors own 90.23% of the company’s stock.

Insider Buying and Selling

In other news, EVP Jacob J. Schatz sold 1,500 shares of Electronic Arts stock in a transaction that occurred on Tuesday, April 15th. The stock was sold at an average price of $145.65, for a total transaction of $218,475.00. Following the sale, the executive vice president owned 19,033 shares of the company’s stock, valued at approximately $2,772,156.45. The trade was a 7.31% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Laura Miele sold 2,500 shares of Electronic Arts stock in a transaction that occurred on Thursday, May 8th. The shares were sold at an average price of $155.57, for a total value of $388,925.00. Following the sale, the insider directly owned 40,189 shares in the company, valued at approximately $6,252,202.73. This trade represents a 5.86% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 31,729 shares of company stock valued at $4,784,679. 0.24% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the company. Morgan Stanley increased their target price on Electronic Arts from $135.00 to $148.00 and gave the stock an “equal weight” rating in a research report on Wednesday, May 7th. Benchmark increased their target price on Electronic Arts from $160.00 to $180.00 and gave the stock a “buy” rating in a research report on Wednesday, May 7th. Robert W. Baird set a $168.00 target price on Electronic Arts in a research report on Wednesday, May 7th. UBS Group increased their target price on Electronic Arts from $152.00 to $167.00 and gave the stock a “neutral” rating in a research report on Wednesday, May 7th. Finally, Citigroup reaffirmed a “neutral” rating and issued a $153.00 target price (up from $139.00) on shares of Electronic Arts in a research report on Thursday, May 29th. Fourteen research analysts have rated the stock with a hold rating, eleven have issued a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, Electronic Arts currently has a consensus rating of “Moderate Buy” and a consensus target price of $162.80.

Electronic Arts Stock Down 0.6%

NASDAQ:EA opened at $152.64 on Wednesday. The company has a market capitalization of $38.35 billion, a price-to-earnings ratio of 36.00, a price-to-earnings-growth ratio of 2.08 and a beta of 0.73. Electronic Arts Inc. has a one year low of $115.21 and a one year high of $168.50. The stock has a 50-day simple moving average of $150.91 and a 200 day simple moving average of $142.45. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.95 and a current ratio of 0.95.

Electronic Arts Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, June 18th. Shareholders of record on Wednesday, May 28th were paid a $0.19 dividend. The ex-dividend date of this dividend was Wednesday, May 28th. This represents a $0.76 dividend on an annualized basis and a yield of 0.50%. Electronic Arts’s payout ratio is currently 17.92%.

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.