Commonwealth of Pennsylvania Public School Empls Retrmt SYS Sells 29,747 Shares of Electronic Arts Inc. $EA

Commonwealth of Pennsylvania Public School Empls Retrmt SYS cut its stake in shares of Electronic Arts Inc. (NASDAQ:EA) by 36.2% in the 1st quarter, HoldingsChannel reports. The fund owned 52,465 shares of the game software company’s stock after selling 29,747 shares during the quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS’s holdings in Electronic Arts were worth $10,696,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Ascentis Independent Advisors bought a new stake in Electronic Arts in the first quarter valued at approximately $27,000. MV Capital Management Inc. bought a new position in shares of Electronic Arts in the fourth quarter worth approximately $28,000. Asset Planning Inc bought a new position in shares of Electronic Arts in the first quarter worth approximately $32,000. Whipplewood Advisors LLC bought a new position in shares of Electronic Arts in the first quarter worth approximately $32,000. Finally, Fideuram Asset Management Ireland dac purchased a new position in shares of Electronic Arts in the fourth quarter worth $44,000. 90.23% of the stock is currently owned by institutional investors.

Electronic Arts Price Performance

EA opened at $206.35 on Tuesday. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.05 and a current ratio of 1.05. The stock has a market capitalization of $51.74 billion, a PE ratio of 59.13, a price-to-earnings-growth ratio of 2.31 and a beta of 0.64. The stock’s 50 day moving average price is $202.84 and its 200-day moving average price is $202.54. Electronic Arts Inc. has a 52-week low of $146.97 and a 52-week high of $206.82.

Electronic Arts Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, June 17th. Shareholders of record on Wednesday, May 27th were given a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a yield of 0.4%. The ex-dividend date of this dividend was Wednesday, May 27th. Electronic Arts’s payout ratio is presently 21.78%.

Insider Activity at Electronic Arts

In other Electronic Arts news, EVP Jacob J. Schatz sold 5,000 shares of the company’s stock in a transaction on Wednesday, May 20th. The shares were sold at an average price of $201.19, for a total value of $1,005,950.00. Following the completion of the transaction, the executive vice president directly owned 42,287 shares in the company, valued at approximately $8,507,721.53. This represents a 10.57% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO Stuart Canfield sold 1,500 shares of the firm’s stock in a transaction dated Wednesday, May 20th. The stock was sold at an average price of $201.36, for a total transaction of $302,040.00. Following the completion of the sale, the chief financial officer directly owned 25,991 shares of the company’s stock, valued at approximately $5,233,547.76. This represents a 5.46% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold a total of 39,906 shares of company stock valued at $8,060,033 in the last 90 days. 0.24% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on EA shares. Citigroup upped their price target on shares of Electronic Arts from $202.00 to $204.00 and gave the company a “neutral” rating in a report on Thursday, May 7th. Weiss Ratings upgraded shares of Electronic Arts from a “hold (c)” rating to a “hold (c+)” rating in a research report on Monday, May 18th. Argus downgraded shares of Electronic Arts from a “buy” rating to a “hold” rating in a research note on Thursday, May 28th. Finally, Wall Street Zen upgraded shares of Electronic Arts to a “hold” rating in a report on Saturday, June 6th. Two research analysts have rated the stock with a Buy rating, seventeen have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $196.64.

About Electronic Arts

Electronic Arts Inc (NASDAQ: EA) is a global interactive entertainment company headquartered in Redwood City, California. Founded in 1982 by Trip Hawkins, EA develops, publishes and distributes video games and related content for a variety of platforms, including consoles, personal computers and mobile devices. The company combines in-house development, partnerships and studio acquisitions to create and maintain a portfolio of entertainment properties and live-service experiences for players worldwide.

EA’s product lineup spans several well-known franchises and genres.