Insider Selling: Electronic Arts (NASDAQ:EA) CFO Sells $1,322,100.00 in Stock

Electronic Arts Inc. (NASDAQ:EA) CFO Stuart Canfield sold 6,500 shares of the firm’s stock in a transaction dated Monday, September 29th. The shares were sold at an average price of $203.40, for a total value of $1,322,100.00. Following the transaction, the chief financial officer directly owned 5,140 shares in the company, valued at approximately $1,045,476. This represents a 55.84% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website.

Stuart Canfield also recently made the following trade(s):

• On Friday, September 26th, Stuart Canfield sold 3,500 shares of Electronic Arts stock. The shares were sold at an average price of $187.80, for a total value of $657,300.00.
• On Wednesday, August 20th, Stuart Canfield sold 1,000 shares of Electronic Arts stock. The shares were sold at an average price of $171.06, for a total value of $171,060.00.

Electronic Arts Stock Performance

Shares of NASDAQ EA opened at $201.00 on Friday. The stock has a market cap of $50.29 billion, a price-to-earnings ratio of 50.38, a P/E/G ratio of 3.04 and a beta of 0.77. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 0.24. Electronic Arts Inc. has a 1-year low of $115.21 and a 1-year high of $203.75. The stock’s 50-day moving average is $171.47 and its 200 day moving average is $156.16.

Electronic Arts Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, September 17th. Shareholders of record on Wednesday, August 27th were paid a $0.19 dividend. 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, August 27th. Electronic Arts’s payout ratio is 19.05%.

Hedge Funds Weigh In On Electronic Arts

Several hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. increased its stake in shares of Electronic Arts by 0.5% during the first quarter. Vanguard Group Inc. now owns 29,052,085 shares of the game software company’s stock valued at $4,198,607,000 after buying an additional 150,438 shares during the period. State Street Corp increased its stake in shares of Electronic Arts by 5.8% during the second quarter. State Street Corp now owns 17,072,959 shares of the game software company’s stock valued at $2,726,552,000 after buying an additional 932,024 shares during the period. Ninety One UK Ltd boosted its position in shares of Electronic Arts by 4.6% during the second quarter. Ninety One UK Ltd now owns 4,355,950 shares of the game software company’s stock valued at $695,645,000 after purchasing an additional 193,442 shares in the last quarter. Ameriprise Financial Inc. boosted its position in shares of Electronic Arts by 44.6% during the second quarter. Ameriprise Financial Inc. now owns 4,217,029 shares of the game software company’s stock valued at $673,393,000 after purchasing an additional 1,300,336 shares in the last quarter. Finally, Invesco Ltd. boosted its position in shares of Electronic Arts by 10.1% during the second quarter. Invesco Ltd. now owns 4,112,305 shares of the game software company’s stock valued at $656,735,000 after purchasing an additional 378,824 shares in the last quarter. 90.23% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the company. Roth Capital cut Electronic Arts from a “buy” rating to a “neutral” rating and lifted their price target for the stock from $185.00 to $210.00 in a research note on Thursday. DZ Bank cut Electronic Arts from a “strong-buy” rating to a “strong sell” rating in a research note on Monday. Wedbush reaffirmed a “neutral” rating and issued a $200.00 price target on shares of Electronic Arts in a research note on Monday. BMO Capital Markets lifted their price target on Electronic Arts from $166.00 to $210.00 and gave the stock a “market perform” rating in a research note on Tuesday. Finally, Jefferies Financial Group cut Electronic Arts from a “buy” rating to a “hold” rating and lifted their price target for the stock from $200.00 to $210.00 in a research note on Tuesday. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, twenty-three have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $177.00.

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.