Gotham Asset Management LLC Sells 4,128 Shares of Electronic Arts Inc. (NASDAQ:EA)

Gotham Asset Management LLC reduced its holdings in shares of Electronic Arts Inc. (NASDAQ:EA) by 32.3% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 8,654 shares of the game software company’s stock after selling 4,128 shares during the quarter. Gotham Asset Management LLC’s holdings in Electronic Arts were worth $1,171,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. Los Angeles Capital Management LLC grew its stake in shares of Electronic Arts by 7.0% in the fourth quarter. Los Angeles Capital Management LLC now owns 18,990 shares of the game software company’s stock valued at $2,727,000 after buying an additional 1,250 shares in the last quarter. Raymond James Financial Services Advisors Inc. grew its stake in shares of Electronic Arts by 3.2% in the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 35,281 shares of the game software company’s stock valued at $5,067,000 after buying an additional 1,103 shares in the last quarter. Federated Hermes Inc. grew its stake in shares of Electronic Arts by 221.2% in the fourth quarter. Federated Hermes Inc. now owns 15,888 shares of the game software company’s stock valued at $2,281,000 after buying an additional 10,941 shares in the last quarter. Penserra Capital Management LLC grew its stake in shares of Electronic Arts by 19.6% in the fourth quarter. Penserra Capital Management LLC now owns 610 shares of the game software company’s stock valued at $87,000 after buying an additional 100 shares in the last quarter. Finally, First Foundation Advisors grew its stake in shares of Electronic Arts by 10.6% in the fourth quarter. First Foundation Advisors now owns 2,569 shares of the game software company’s stock valued at $369,000 after buying an additional 246 shares in the last quarter. 88.42% of the stock is owned by institutional investors.

Shares of NASDAQ:EA opened at $140.72 on Thursday. The company has a debt-to-equity ratio of 0.24, a current ratio of 2.43 and a quick ratio of 2.43. Electronic Arts Inc. has a twelve month low of $110.15 and a twelve month high of $150.30. The stock’s 50 day moving average price is $142.27. The firm has a market capitalization of $40.27 billion, a price-to-earnings ratio of 31.07 and a beta of 0.89.

Electronic Arts (NASDAQ:EA) last issued its earnings results on Monday, May 10th. The game software company reported $1.23 earnings per share for the quarter, topping analysts’ consensus estimates of $1.05 by $0.18. Electronic Arts had a return on equity of 16.74% and a net margin of 14.87%. The company had revenue of $1.49 billion for the quarter, compared to analyst estimates of $1.39 billion. During the same period in the prior year, the firm earned $1.08 earnings per share. Electronic Arts’s revenue for the quarter was up 18.6% on a year-over-year basis. As a group, research analysts anticipate that Electronic Arts Inc. will post 4.84 EPS for the current year.

The business also recently declared a quarterly dividend, which was paid on Wednesday, June 23rd. Investors of record on Wednesday, June 2nd were given a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a yield of 0.48%. The ex-dividend date was Tuesday, June 1st. Electronic Arts’s payout ratio is currently 14.98%.

A number of research firms have commented on EA. Moffett Nathanson began coverage on shares of Electronic Arts in a research report on Thursday, June 24th. They set a “neutral” rating and a $151.00 price objective for the company. Benchmark lifted their price objective on shares of Electronic Arts from $177.00 to $181.00 and gave the stock a “buy” rating in a research report on Wednesday, May 12th. Jefferies Financial Group initiated coverage on shares of Electronic Arts in a research report on Thursday, April 22nd. They set a “buy” rating and a $165.00 price objective for the company. Credit Suisse Group dropped their target price on Electronic Arts from $167.00 to $165.00 and set an “outperform” rating for the company in a report on Monday, May 17th. Finally, Needham & Company LLC reissued a “buy” rating and set a $165.00 target price on shares of Electronic Arts in a report on Wednesday, May 12th. Nine research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus target price of $161.22.

In other Electronic Arts news, insider Vijayanthimala Singh sold 800 shares of the company’s stock in a transaction on Monday, June 14th. The stock was sold at an average price of $146.66, for a total value of $117,328.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Blake J. Jorgensen sold 3,315 shares of the company’s stock in a transaction on Monday, June 14th. The shares were sold at an average price of $147.63, for a total value of $489,393.45. Following the completion of the transaction, the chief financial officer now owns 85,775 shares of the company’s stock, valued at approximately $12,662,963.25. The disclosure for this sale can be found here. Insiders sold a total of 117,837 shares of company stock valued at $16,834,574 over the last three months. 0.65% 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 Plants vs.

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

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