Bank of Nova Scotia cut its stake in shares of Electronic Arts Inc. (NASDAQ:EA – Free Report) by 34.4% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 295,941 shares of the game software company’s stock after selling 155,247 shares during the quarter. Bank of Nova Scotia’s holdings in Electronic Arts were worth $60,333,000 as of its most recent SEC filing.
Several other institutional investors also recently bought and sold shares of EA. Transmarket Holdings LP purchased a new stake in shares of Electronic Arts in the first quarter valued at about $343,000. CI Investments Inc. raised its stake in shares of Electronic Arts by 17.1% during the 1st quarter. CI Investments Inc. now owns 3,573 shares of the game software company’s stock worth $728,000 after buying an additional 522 shares in the last quarter. ABN Amro Investment Solutions raised its stake in shares of Electronic Arts by 11.0% during the 1st quarter. ABN Amro Investment Solutions now owns 12,935 shares of the game software company’s stock worth $2,637,000 after buying an additional 1,278 shares in the last quarter. PNC Financial Services Group Inc. lifted its holdings in shares of Electronic Arts by 3.6% in the 1st quarter. PNC Financial Services Group Inc. now owns 46,781 shares of the game software company’s stock valued at $9,537,000 after buying an additional 1,605 shares during the period. Finally, Kapitalo Investimentos Ltda boosted its stake in shares of Electronic Arts by 122.0% in the first quarter. Kapitalo Investimentos Ltda now owns 213,193 shares of the game software company’s stock valued at $43,464,000 after buying an additional 117,139 shares in the last quarter. 90.23% of the stock is owned by institutional investors and hedge funds.
Insider Buying and Selling
In other news, CEO Andrew Wilson sold 5,000 shares of the stock in a transaction dated Monday, June 15th. The stock was sold at an average price of $203.12, for a total transaction of $1,015,600.00. Following the transaction, the chief executive officer owned 80,974 shares of the company’s stock, valued at approximately $16,447,438.88. This represents a 5.82% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Vijayanthimala Singh sold 1,200 shares of the firm’s stock in a transaction that occurred on Monday, June 15th. The shares were sold at an average price of $203.00, for a total value of $243,600.00. Following the completion of the sale, the insider directly owned 26,360 shares in the company, valued at $5,351,080. This trade represents a 4.35% 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. Over the last three months, insiders sold 31,206 shares of company stock valued at $6,292,058. 0.24% of the stock is owned by company insiders.
Analysts Set New Price Targets
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Electronic Arts Trading Up 0.0%
NASDAQ EA opened at $209.08 on Friday. Electronic Arts Inc. has a one year low of $146.97 and a one year high of $209.34. The company has a 50-day simple moving average of $204.25 and a 200-day simple moving average of $202.80. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.05 and a current ratio of 1.05. The firm has a market capitalization of $52.43 billion, a PE ratio of 59.91, a price-to-earnings-growth ratio of 2.34 and a beta of 0.64.
Electronic Arts Dividend Announcement
The business also recently declared a quarterly dividend, which was paid on Wednesday, June 17th. Stockholders of record on Wednesday, May 27th were issued a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a dividend yield of 0.4%. The ex-dividend date was Wednesday, May 27th. Electronic Arts’s payout ratio is currently 21.78%.
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.
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