Transcend Capital Advisors LLC Grows Stock Holdings in Electronic Arts Inc. $EA

Transcend Capital Advisors LLC increased its stake in shares of Electronic Arts Inc. (NASDAQ:EA) by 42.4% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,328 shares of the game software company’s stock after buying an additional 693 shares during the period. Transcend Capital Advisors LLC’s holdings in Electronic Arts were worth $372,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Brighton Jones LLC lifted its holdings in shares of Electronic Arts by 9.4% in the fourth quarter. Brighton Jones LLC now owns 3,420 shares of the game software company’s stock valued at $500,000 after purchasing an additional 294 shares in the last quarter. Golden State Wealth Management LLC lifted its holdings in shares of Electronic Arts by 176.8% in the first quarter. Golden State Wealth Management LLC now owns 346 shares of the game software company’s stock valued at $50,000 after purchasing an additional 221 shares in the last quarter. Allspring Global Investments Holdings LLC lifted its holdings in shares of Electronic Arts by 1.7% in the first quarter. Allspring Global Investments Holdings LLC now owns 201,922 shares of the game software company’s stock valued at $29,414,000 after purchasing an additional 3,462 shares in the last quarter. Keybank National Association OH lifted its holdings in shares of Electronic Arts by 203.0% in the first quarter. Keybank National Association OH now owns 8,796 shares of the game software company’s stock valued at $1,271,000 after purchasing an additional 5,893 shares in the last quarter. Finally, First Horizon Advisors Inc. lifted its holdings in shares of Electronic Arts by 18.5% in the first quarter. First Horizon Advisors Inc. now owns 111,891 shares of the game software company’s stock valued at $16,171,000 after purchasing an additional 17,496 shares in the last quarter. Hedge funds and other institutional investors own 90.23% of the company’s stock.

Insider Activity

In related news, CFO Stuart Canfield sold 6,500 shares of the company’s stock in a transaction that occurred on Monday, September 29th. The shares were sold at an average price of $203.40, for a total transaction of $1,322,100.00. Following the completion of the transaction, the chief financial officer owned 5,140 shares of the company’s stock, valued at approximately $1,045,476. This represents a 55.84% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Jacob J. Schatz sold 1,200 shares of the company’s stock in a transaction that occurred on Monday, September 15th. The stock was sold at an average price of $171.52, for a total transaction of $205,824.00. Following the transaction, the executive vice president directly owned 26,080 shares of the company’s stock, valued at $4,473,241.60. This trade represents a 4.40% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 41,900 shares of company stock valued at $7,748,187 in the last ninety days. 0.24% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several analysts have issued reports on EA shares. Arete Research set a $192.00 price target on shares of Electronic Arts in a report on Tuesday, August 5th. UBS Group set a $210.00 price objective on shares of Electronic Arts and gave the company a “neutral” rating in a research report on Tuesday, September 30th. Citigroup reissued a “neutral” rating on shares of Electronic Arts in a research report on Friday, September 26th. Argus boosted their price objective on shares of Electronic Arts from $180.00 to $210.00 and gave the company a “buy” rating in a research report on Tuesday, September 30th. Finally, Robert W. Baird reissued a “neutral” rating and issued a $210.00 price objective (up previously from $170.00) on shares of Electronic Arts in a research report on Monday, September 29th. Two analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating, twenty-five have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, Electronic Arts has an average rating of “Hold” and an average price target of $179.38.

Electronic Arts Stock Performance

Shares of EA stock opened at $200.20 on Thursday. Electronic Arts Inc. has a one year low of $115.21 and a one year high of $203.75. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.84 and a current ratio of 0.84. The company has a 50 day moving average price of $185.04 and a 200 day moving average price of $164.23. The firm has a market capitalization of $50.09 billion, a price-to-earnings ratio of 58.54, a price-to-earnings-growth ratio of 3.04 and a beta of 0.77.

Electronic Arts Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 23rd. Investors of record on Wednesday, December 3rd will be given a dividend of $0.19 per share. The ex-dividend date of this dividend is Wednesday, December 3rd. This represents a $0.76 annualized dividend and a yield of 0.4%. Electronic Arts’s dividend payout ratio is 19.05%.

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.