Eagle Rock Investment Company LLC Decreases Stake in Electronic Arts Inc. (NASDAQ:EA)

Eagle Rock Investment Company LLC decreased its position in Electronic Arts Inc. (NASDAQ:EA) by 30.6% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 33,762 shares of the game software company’s stock after selling 14,875 shares during the period. Eagle Rock Investment Company LLC’s holdings in Electronic Arts were worth $4,879,000 as of its most recent filing with the SEC.

Several other large investors also recently modified their holdings of EA. Brighton Jones LLC grew its stake in Electronic Arts by 9.4% in the 4th quarter. Brighton Jones LLC now owns 3,420 shares of the game software company’s stock valued at $500,000 after buying an additional 294 shares in the last quarter. Spire Wealth Management lifted its holdings in shares of Electronic Arts by 881.0% during the 4th quarter. Spire Wealth Management now owns 2,070 shares of the game software company’s stock worth $303,000 after acquiring an additional 1,859 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of Electronic Arts by 3.1% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 93,921 shares of the game software company’s stock worth $13,878,000 after acquiring an additional 2,835 shares during the last quarter. Choreo LLC lifted its stake in Electronic Arts by 17.8% in the fourth quarter. Choreo LLC now owns 4,041 shares of the game software company’s stock worth $592,000 after purchasing an additional 610 shares during the last quarter. Finally, Bleakley Financial Group LLC lifted its stake in Electronic Arts by 6.5% in the fourth quarter. Bleakley Financial Group LLC now owns 15,848 shares of the game software company’s stock worth $2,319,000 after purchasing an additional 967 shares during the last quarter. Hedge funds and other institutional investors own 90.23% of the company’s stock.

Insider Activity

In other Electronic Arts news, CEO Andrew Wilson sold 5,000 shares of Electronic Arts stock in a transaction on Thursday, March 20th. The shares were sold at an average price of $142.50, for a total value of $712,500.00. Following the completion of the transaction, the chief executive officer now directly owns 32,615 shares of the company’s stock, valued at $4,647,637.50. This trade represents a 13.29% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, insider Vijayanthimala Singh sold 1,000 shares of Electronic Arts stock in a transaction on Tuesday, April 1st. The stock was sold at an average price of $145.00, for a total transaction of $145,000.00. Following the completion of the transaction, the insider now directly owns 26,216 shares of the company’s stock, valued at $3,801,320. The trade was a 3.67% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 27,729 shares of company stock worth $4,107,664 in the last three months. Company insiders own 0.22% of the company’s stock.

Electronic Arts Stock Up 1.1%

EA opened at $149.57 on Friday. The company has a current ratio of 1.38, a quick ratio of 1.38 and a debt-to-equity ratio of 0.25. Electronic Arts Inc. has a 1-year low of $115.21 and a 1-year high of $168.50. The company has a market capitalization of $37.51 billion, a PE ratio of 38.06, a PEG ratio of 3.58 and a beta of 0.71. The firm’s 50 day simple moving average is $145.91 and its two-hundred day simple moving average is $143.91.

Electronic Arts Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 18th. Stockholders of record on Wednesday, May 28th will be given a dividend of $0.19 per share. The ex-dividend date is Wednesday, May 28th. This represents a $0.76 annualized dividend and a dividend yield of 0.51%. Electronic Arts’s payout ratio is 17.92%.

Wall Street Analyst Weigh In

EA has been the subject of several recent research reports. UBS Group boosted their price target on shares of Electronic Arts from $152.00 to $167.00 and gave the stock a “neutral” rating in a research note on Wednesday, May 7th. JPMorgan Chase & Co. boosted their price target on shares of Electronic Arts from $135.00 to $160.00 and gave the company a “neutral” rating in a research report on Wednesday, May 7th. DA Davidson began coverage on shares of Electronic Arts in a research report on Wednesday, February 19th. They set a “neutral” rating and a $140.00 price target on the stock. Morgan Stanley upped their price objective on shares of Electronic Arts from $135.00 to $148.00 and gave the stock an “equal weight” rating in a report on Wednesday, May 7th. Finally, Citigroup reiterated a “neutral” rating and issued a $153.00 target price (up previously from $139.00) on shares of Electronic Arts in a research note on Thursday, May 29th. Fifteen equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $161.88.

Electronic Arts Profile

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.