NorthCoast Asset Management LLC acquired a new position in shares of Electronic Arts Inc. (NASDAQ:EA) in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 1,649 shares of the game software company’s stock, valued at approximately $215,000.

Several other institutional investors and hedge funds also recently modified their holdings of EA. CX Institutional grew its stake in Electronic Arts by 185.5% during the second quarter. CX Institutional now owns 237 shares of the game software company’s stock worth $31,000 after purchasing an additional 154 shares during the period. Newfound Research LLC acquired a new stake in Electronic Arts during the third quarter worth approximately $31,000. Ellevest Inc. grew its stake in Electronic Arts by 59.5% during the third quarter. Ellevest Inc. now owns 268 shares of the game software company’s stock worth $35,000 after purchasing an additional 100 shares during the period. Trust Co. of Vermont grew its stake in Electronic Arts by 210.0% during the third quarter. Trust Co. of Vermont now owns 310 shares of the game software company’s stock worth $40,000 after purchasing an additional 210 shares during the period. Finally, Jaffetilchin Investment Partners LLC acquired a new stake in Electronic Arts during the second quarter worth approximately $47,000. Institutional investors own 81.28% of the company’s stock.

A number of brokerages have commented on EA. Piper Sandler cut Electronic Arts from an “overweight” rating to a “neutral” rating and reduced their price objective for the company from $157.00 to $133.00 in a research note on Friday, November 6th. Credit Suisse Group raised their price objective on Electronic Arts from $149.00 to $150.00 and gave the company an “outperform” rating in a research note on Monday, November 2nd. BidaskClub raised Electronic Arts from a “sell” rating to a “hold” rating in a research note on Thursday, October 29th. MKM Partners raised their price objective on Electronic Arts from $144.00 to $160.00 in a research note on Friday, July 31st. Finally, Morgan Stanley reduced their price objective on Electronic Arts from $145.00 to $140.00 and set an “equal weight” rating for the company in a research note on Friday, November 6th. Two equities research analysts have rated the stock with a sell rating, eleven have given a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the stock. Electronic Arts has a consensus rating of “Buy” and an average price target of $141.86.

Shares of Electronic Arts stock opened at $121.87 on Friday. The business’s fifty day simple moving average is $125.00 and its 200 day simple moving average is $129.25. The firm has a market capitalization of $35.35 billion, a P/E ratio of 27.14, a price-to-earnings-growth ratio of 2.46 and a beta of 0.94. Electronic Arts Inc. has a 12 month low of $85.69 and a 12 month high of $147.36. The company has a current ratio of 2.75, a quick ratio of 2.75 and a debt-to-equity ratio of 0.05.

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 23rd. Investors of record on Wednesday, December 2nd will be issued a dividend of $0.17 per share. The ex-dividend date is Tuesday, December 1st. This represents a $0.68 dividend on an annualized basis and a yield of 0.56%.

In other Electronic Arts news, CEO Andrew Wilson sold 250,000 shares of the business’s stock in a transaction on Tuesday, September 8th. The stock was sold at an average price of $124.67, for a total value of $31,167,500.00. Following the sale, the chief executive officer now directly owns 250,000 shares in the company, valued at $31,167,500. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Lawrence F. Probst III sold 30,000 shares of the business’s stock in a transaction on Monday, August 31st. The shares were sold at an average price of $140.26, for a total value of $4,207,800.00. The disclosure for this sale can be found here. Insiders have sold 576,991 shares of company stock worth $72,461,806 over the last quarter. 0.92% of the stock is currently owned by corporate insiders.

Electronic Arts Profile

Electronic Arts Inc develops, markets, publishes, and distributes games, content, and services for game consoles, PCs, mobile phones, and tablets worldwide. The company develops and publishes games and services across various genres, such as sports, first-person shooter, action, role-playing, and simulation primarily under the Battlefield, The Sims, Apex Legends, Need for Speed, and Plants v.

Further Reading: Hedge Funds – Risk or Reward?

Want to see what other hedge funds are holding EA? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Electronic Arts Inc. (NASDAQ:EA).

Institutional Ownership by Quarter for Electronic Arts (NASDAQ:EA)

Receive News & Ratings for Electronic Arts Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Electronic Arts and related companies with MarketBeat.com's FREE daily email newsletter.