Electronic Arts Inc. $EA Shares Sold by Sanctuary Advisors LLC

Sanctuary Advisors LLC decreased its stake in shares of Electronic Arts Inc. (NASDAQ:EA) by 32.8% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 5,145 shares of the game software company’s stock after selling 2,507 shares during the period. Sanctuary Advisors LLC’s holdings in Electronic Arts were worth $1,049,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently bought and sold shares of EA. Ascentis Independent Advisors acquired a new position in shares of Electronic Arts in the 1st quarter worth approximately $27,000. MV Capital Management Inc. bought a new position in shares of Electronic Arts in the 4th quarter worth about $28,000. Asset Planning Inc acquired a new position in shares of Electronic Arts in the 1st quarter valued at about $32,000. Whipplewood Advisors LLC bought a new stake in shares of Electronic Arts during the 1st quarter valued at about $32,000. Finally, Fideuram Asset Management Ireland dac acquired a new stake in Electronic Arts during the fourth quarter worth about $44,000. 90.23% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of brokerages have commented on EA. Weiss Ratings upgraded Electronic Arts from a “hold (c)” rating to a “hold (c+)” rating in a research note on Monday, May 18th. Argus downgraded Electronic Arts from a “buy” rating to a “hold” rating in a report on Thursday, May 28th. Citigroup boosted their price objective on Electronic Arts from $202.00 to $204.00 and gave the company a “neutral” rating in a research report on Thursday, May 7th. Zacks Research downgraded Electronic Arts from a “hold” rating to a “strong sell” rating in a research note on Monday, July 13th. Finally, Wall Street Zen upgraded Electronic Arts to a “hold” rating in a research note on Saturday, June 6th. Two investment analysts have rated the stock with a Buy rating, sixteen have given a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat, Electronic Arts presently has a consensus rating of “Hold” and an average target price of $196.64.

Insider Activity

In other news, CFO Stuart Canfield sold 1,500 shares of the stock in a transaction on Wednesday, May 20th. The stock was sold at an average price of $201.36, for a total value of $302,040.00. Following the completion of the transaction, the chief financial officer 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. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 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. Also, insider Laura Miele sold 2,500 shares of Electronic Arts stock in a transaction dated Monday, June 15th. The shares were sold at an average price of $203.10, for a total transaction of $507,750.00. Following the sale, the insider owned 73,513 shares in the company, valued at approximately $14,930,490.30. This represents a 3.29% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 31,206 shares of company stock worth $6,292,058 over the last ninety days. 0.24% of the stock is currently owned by company insiders.

Electronic Arts Price Performance

NASDAQ EA opened at $209.08 on Friday. The company has a 50-day moving average price of $204.25 and a two-hundred day moving average price of $202.80. Electronic Arts Inc. has a 52 week low of $146.97 and a 52 week high of $209.34. The stock has a market cap of $52.43 billion, a price-to-earnings ratio of 59.91, a price-to-earnings-growth ratio of 2.34 and a beta of 0.64. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 0.22.

Electronic Arts Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, June 17th. Investors of record on Wednesday, May 27th were given a $0.19 dividend. This represents a $0.76 annualized dividend and a yield of 0.4%. The ex-dividend date was Wednesday, May 27th. Electronic Arts’s dividend payout ratio (DPR) is currently 21.78%.

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.