Cresset Asset Management LLC Decreases Stock Position in Electronic Arts Inc. (NASDAQ:EA)

Cresset Asset Management LLC cut its holdings in Electronic Arts Inc. (NASDAQ:EA) by 43.0% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 12,239 shares of the game software company’s stock after selling 9,250 shares during the quarter. Cresset Asset Management LLC’s holdings in Electronic Arts were worth $1,791,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the business. Pinnacle Bancorp Inc. raised its stake in Electronic Arts by 141.0% during the 4th quarter. Pinnacle Bancorp Inc. now owns 200 shares of the game software company’s stock valued at $29,000 after buying an additional 117 shares during the last quarter. Whipplewood Advisors LLC bought a new stake in shares of Electronic Arts in the fourth quarter worth $32,000. LGT Financial Advisors LLC purchased a new stake in Electronic Arts during the fourth quarter valued at $33,000. Millstone Evans Group LLC bought a new position in Electronic Arts in the fourth quarter valued at about $37,000. Finally, SBI Securities Co. Ltd. bought a new position in Electronic Arts in the fourth quarter valued at about $41,000. 90.23% of the stock is currently owned by hedge funds and other institutional investors.

Electronic Arts Stock Down 1.5 %

Shares of NASDAQ EA opened at $153.30 on Friday. The firm has a market cap of $39.95 billion, a price-to-earnings ratio of 39.01, a price-to-earnings-growth ratio of 3.58 and a beta of 0.74. The company’s 50-day simple moving average is $143.36 and its 200-day simple moving average is $144.90. The company has a quick ratio of 1.38, a current ratio of 1.38 and a debt-to-equity ratio of 0.25. Electronic Arts Inc. has a 52-week low of $115.21 and a 52-week high of $168.50.

Electronic Arts Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 18th. Investors of record on Wednesday, May 28th will be issued a $0.19 dividend. This represents a $0.76 annualized dividend and a yield of 0.50%. The ex-dividend date of this dividend is Wednesday, May 28th. Electronic Arts’s payout ratio is 19.34%.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the stock. HSBC raised shares of Electronic Arts from a “hold” rating to a “buy” rating and set a $190.00 price target for the company in a research report on Wednesday. Ascendiant Capital Markets increased their price target on shares of Electronic Arts from $157.00 to $160.00 and gave the stock a “buy” rating in a research report on Monday, March 3rd. Oppenheimer lifted their price target on shares of Electronic Arts from $170.00 to $185.00 and gave the stock an “outperform” rating in a research note on Wednesday. UBS Group upped their price objective on Electronic Arts from $152.00 to $167.00 and gave the stock a “neutral” rating in a research note on Wednesday. Finally, The Goldman Sachs Group boosted their price target on Electronic Arts from $135.00 to $155.00 and gave the company a “neutral” rating in a report on Thursday. Fifteen 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.com, the company presently has an average rating of “Hold” and a consensus price target of $161.83.

Insiders Place Their Bets

In related news, CFO Stuart Canfield sold 1,000 shares of the company’s stock in a transaction dated Thursday, February 20th. The shares were sold at an average price of $130.11, for a total transaction of $130,110.00. Following the completion of the sale, the chief financial officer now owns 9,516 shares of the company’s stock, valued at approximately $1,238,126.76. This represents a 9.51 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Andrew Wilson sold 5,000 shares of the stock in a transaction dated Thursday, February 20th. The shares were sold at an average price of $130.14, for a total transaction of $650,700.00. Following the completion of the sale, the chief executive officer now owns 37,615 shares of the company’s stock, valued at approximately $4,895,216.10. The trade was a 11.73 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 22,000 shares of company stock worth $3,118,120. Corporate insiders own 0.22% of the company’s stock.

Electronic Arts Company 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.