Electronic Arts Inc. $EA Shares Sold by Texas Permanent School Fund Corp

Texas Permanent School Fund Corp lowered its stake in shares of Electronic Arts Inc. (NASDAQ:EA) by 32.0% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 22,307 shares of the game software company’s stock after selling 10,477 shares during the period. Texas Permanent School Fund Corp’s holdings in Electronic Arts were worth $3,562,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of EA. State Street Corp boosted its holdings in Electronic Arts by 5.8% in the 2nd quarter. State Street Corp now owns 17,072,959 shares of the game software company’s stock worth $2,726,552,000 after buying an additional 932,024 shares during the last quarter. Ninety One UK Ltd raised its holdings 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 acquiring an additional 193,442 shares during the last quarter. Ameriprise Financial Inc. lifted its position in shares of Electronic Arts by 44.6% in 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 acquiring an additional 1,300,336 shares in the last quarter. Invesco Ltd. boosted its stake in shares of Electronic Arts by 10.1% in the second quarter. Invesco Ltd. now owns 4,112,305 shares of the game software company’s stock worth $656,735,000 after acquiring an additional 378,824 shares during the last quarter. Finally, Independent Franchise Partners LLP boosted its stake in shares of Electronic Arts by 2.3% in the first quarter. Independent Franchise Partners LLP now owns 3,945,702 shares of the game software company’s stock worth $570,233,000 after acquiring an additional 88,767 shares during the last quarter. 90.23% of the stock is owned by hedge funds and other institutional investors.

Electronic Arts Trading Up 0.1%

Shares of EA opened at $203.90 on Friday. Electronic Arts Inc. has a 12-month low of $115.21 and a 12-month high of $204.64. The firm has a market capitalization of $51.00 billion, a P/E ratio of 59.62, a P/E/G ratio of 2.44 and a beta of 0.76. The firm has a 50-day moving average price of $201.63 and a 200 day moving average price of $177.66. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 0.25.

Electronic Arts (NASDAQ:EA) last issued its earnings results on Tuesday, October 28th. The game software company reported $0.65 EPS for the quarter, missing analysts’ consensus estimates of $0.72 by ($0.07). Electronic Arts had a return on equity of 15.30% and a net margin of 12.14%.The firm had revenue of $1.84 billion for the quarter, compared to analysts’ expectations of $1.88 billion. During the same period last year, the firm earned $1.11 earnings per share. Electronic Arts’s revenue for the quarter was down 12.6% on a year-over-year basis. Sell-side analysts forecast that Electronic Arts Inc. will post 4.71 EPS for the current year.

Electronic Arts Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 23rd. Investors of record on Wednesday, December 3rd will be issued a $0.19 dividend. The ex-dividend date is Wednesday, December 3rd. This represents a $0.76 dividend on an annualized basis and a yield of 0.4%. Electronic Arts’s dividend payout ratio is currently 22.22%.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on EA shares. Oppenheimer downgraded Electronic Arts from an “outperform” rating to a “market perform” rating in a research note on Tuesday, September 30th. Robert W. Baird reiterated a “neutral” rating and issued a $210.00 target price (up from $170.00) on shares of Electronic Arts in a research report on Monday, September 29th. Citigroup boosted their price target on shares of Electronic Arts from $206.00 to $207.00 and gave the stock a “neutral” rating in a research report on Thursday, October 30th. Roth Capital cut shares of Electronic Arts from a “buy” rating to a “neutral” rating and upped their price objective for the company from $185.00 to $210.00 in a research note on Thursday, October 2nd. Finally, Cowen downgraded shares of Electronic Arts from a “buy” rating to a “hold” rating in a report on Wednesday, October 1st. Four equities research analysts have rated the stock with a Buy rating, twenty-six have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, Electronic Arts currently has an average rating of “Hold” and an average target price of $181.21.

Insiders Place Their Bets

In other news, CFO Stuart Canfield sold 6,500 shares of the stock in a transaction on Monday, September 29th. The stock was sold at an average price of $203.40, for a total transaction of $1,322,100.00. Following the completion of 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 position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Jeff Huber sold 79,381 shares of the business’s stock in a transaction dated Friday, November 21st. The shares were sold at an average price of $201.17, for a total transaction of $15,969,075.77. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 141,169 shares of company stock valued at $28,242,586. 0.24% of the stock is currently owned by insiders.

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.