Kryger Capital LLC bought a new position in Electronic Arts Inc. (NASDAQ:EA – Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 508,259 shares of the game software company’s stock, valued at approximately $103,619,000. Electronic Arts accounts for approximately 7.3% of Kryger Capital LLC’s investment portfolio, making the stock its 3rd biggest holding.
A number of other hedge funds have also added to or reduced their stakes in EA. Ascentis Independent Advisors bought a new stake in shares of Electronic Arts during the first quarter valued at about $27,000. MV Capital Management Inc. bought a new position in shares of Electronic Arts in the fourth quarter valued at approximately $28,000. Asset Planning Inc bought a new position in shares of Electronic Arts in the first quarter valued at approximately $32,000. Whipplewood Advisors LLC bought a new position in shares of Electronic Arts in the first quarter valued at approximately $32,000. Finally, Fideuram Asset Management Ireland dac purchased a new position in Electronic Arts during the fourth quarter valued at approximately $44,000. Hedge funds and other institutional investors own 90.23% of the company’s stock.
Insiders Place Their Bets
In other news, EVP Jacob J. Schatz sold 5,000 shares of the stock in a transaction on Wednesday, May 20th. The shares were sold at an average price of $201.19, for a total value of $1,005,950.00. Following the transaction, the executive vice president owned 42,287 shares of the company’s stock, valued at $8,507,721.53. This represents a 10.57% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO Andrew Wilson sold 5,066 shares of the stock in a transaction on 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 transaction, the chief executive officer directly owned 85,974 shares in the company, valued at $17,337,516.84. The trade was a 5.56% decrease in their position. The disclosure for this sale is available in the SEC filing. 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 have sold 31,206 shares of company stock worth $6,292,058. 0.24% of the stock is owned by corporate insiders.
Electronic Arts Stock Up 0.0%
Electronic Arts Announces Dividend
The business also recently announced a quarterly dividend, which was paid on Wednesday, June 17th. Shareholders of record on Wednesday, May 27th were given a dividend of $0.19 per share. The ex-dividend date was Wednesday, May 27th. This represents a $0.76 annualized dividend and a yield of 0.4%. Electronic Arts’s payout ratio is presently 21.78%.
Analyst Upgrades and Downgrades
EA has been the topic of a number of analyst reports. Argus lowered shares of Electronic Arts from a “buy” rating to a “hold” rating in a report on Thursday, May 28th. Weiss Ratings raised shares of Electronic Arts from a “hold (c)” rating to a “hold (c+)” rating in a report on Monday, May 18th. Citigroup boosted their price target on shares of Electronic Arts from $202.00 to $204.00 and gave the company a “neutral” rating in a research report on Thursday, May 7th. Zacks Research cut shares of Electronic Arts from a “hold” rating to a “strong sell” rating in a report on Monday, July 13th. Finally, Wall Street Zen upgraded Electronic Arts to a “hold” rating in a research report on Saturday, June 6th. Two equities research analysts have rated the stock with a Buy rating, sixteen have assigned a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $196.64.
Get Our Latest Research Report on EA
Electronic Arts 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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