Electronic Arts Inc. $EA Stock Holdings Increased by Cannon Global Investment Management LLC

Cannon Global Investment Management LLC lifted its stake in shares of Electronic Arts Inc. (NASDAQ:EA) by 445.5% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 6,000 shares of the game software company’s stock after acquiring an additional 4,900 shares during the period. Electronic Arts accounts for approximately 2.4% of Cannon Global Investment Management LLC’s portfolio, making the stock its 9th biggest holding. Cannon Global Investment Management LLC’s holdings in Electronic Arts were worth $1,223,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in the company. Aaron Wealth Advisors LLC purchased a new position in Electronic Arts in the 1st quarter valued at about $281,000. Louisiana State Employees Retirement System purchased a new position in shares of Electronic Arts during the first quarter valued at approximately $5,688,000. Contravisory Investment Management Inc. boosted its position in Electronic Arts by 63.8% during the first quarter. Contravisory Investment Management Inc. now owns 4,852 shares of the game software company’s stock worth $989,000 after acquiring an additional 1,890 shares during the last quarter. OP Asset Management Ltd purchased a new stake in Electronic Arts in the 1st quarter worth approximately $8,691,000. Finally, Banque Cantonale Vaudoise raised its holdings in Electronic Arts by 4.0% in the 1st quarter. Banque Cantonale Vaudoise now owns 7,643 shares of the game software company’s stock valued at $1,558,000 after acquiring an additional 293 shares during the last quarter. Institutional investors and hedge funds own 90.23% of the company’s stock.

Electronic Arts Trading Up 0.1%

EA stock opened at $204.73 on Friday. The business has a fifty day simple moving average of $202.23 and a 200-day simple moving average of $202.40. Electronic Arts Inc. has a 52 week low of $146.97 and a 52 week high of $205.22. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 0.22. The company has a market cap of $51.34 billion, a price-to-earnings ratio of 58.66, a PEG ratio of 2.30 and a beta of 0.65.

Electronic Arts Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, June 17th. Stockholders of record on Wednesday, May 27th were paid a $0.19 dividend. This represents a $0.76 annualized dividend and a dividend yield of 0.4%. The ex-dividend date of this dividend was Wednesday, May 27th. Electronic Arts’s payout ratio is currently 21.78%.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the company. Wall Street Zen raised Electronic Arts to a “hold” rating in a research note on Saturday, June 6th. Weiss Ratings raised Electronic Arts from a “hold (c)” rating to a “hold (c+)” rating in a research report on Monday, May 18th. Argus lowered Electronic Arts from a “buy” rating to a “hold” rating in a research note on Thursday, May 28th. Finally, Citigroup increased their target price on Electronic Arts from $202.00 to $204.00 and gave the stock a “neutral” rating in a research report on Thursday, May 7th. Two research analysts have rated the stock with a Buy rating, seventeen have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, Electronic Arts presently has a consensus rating of “Hold” and an average price target of $196.64.

Insider Transactions at Electronic Arts

In other news, CEO Andrew Wilson sold 5,066 shares of the business’s stock in a transaction dated Thursday, May 21st. The stock was sold at an average price of $201.66, for a total transaction of $1,021,609.56. Following the completion of the sale, the chief executive officer owned 85,974 shares in the company, valued at approximately $17,337,516.84. The trade was a 5.56% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, 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, CFO Stuart Canfield sold 1,500 shares of the stock in a transaction that occurred on Wednesday, May 20th. The stock was sold at an average price of $201.36, for a total transaction of $302,040.00. Following the sale, the chief financial officer directly owned 25,991 shares of the company’s stock, valued at approximately $5,233,547.76. This trade represents a 5.46% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 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. Over the last quarter, insiders sold 39,906 shares of company stock valued at $8,060,033. 0.24% of the stock is currently owned by company insiders.

Electronic Arts Company Profile

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.