Ashton Thomas Private Wealth LLC Reduces Stock Holdings in Electronic Arts Inc. (NASDAQ:EA)

Ashton Thomas Private Wealth LLC reduced its position in Electronic Arts Inc. (NASDAQ:EA) by 31.2% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 3,440 shares of the game software company’s stock after selling 1,557 shares during the quarter. Ashton Thomas Private Wealth LLC’s holdings in Electronic Arts were worth $479,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently made changes to their positions in the company. North Star Investment Management Corp. lifted its stake in shares of Electronic Arts by 333.3% during the 1st quarter. North Star Investment Management Corp. now owns 195 shares of the game software company’s stock valued at $26,000 after buying an additional 150 shares in the last quarter. Cape Investment Advisory Inc. lifted its position in shares of Electronic Arts by 102.0% during the fourth quarter. Cape Investment Advisory Inc. now owns 200 shares of the game software company’s stock worth $27,000 after acquiring an additional 101 shares in the last quarter. Redmont Wealth Advisors LLC bought a new position in shares of Electronic Arts in the first quarter worth $27,000. Opal Wealth Advisors LLC purchased a new position in shares of Electronic Arts in the second quarter valued at $28,000. Finally, YHB Investment Advisors Inc. bought a new stake in shares of Electronic Arts during the 1st quarter valued at $30,000. 90.23% of the stock is currently owned by institutional investors.

Electronic Arts Stock Performance

Shares of EA stock opened at $143.70 on Thursday. The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.45 and a current ratio of 1.45. Electronic Arts Inc. has a fifty-two week low of $117.47 and a fifty-two week high of $153.51. The company has a market capitalization of $38.19 billion, a P/E ratio of 30.71, a PEG ratio of 2.16 and a beta of 0.79. The stock has a 50 day moving average price of $145.99 and a two-hundred day moving average price of $137.56.

Electronic Arts Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 18th. Shareholders of record on Wednesday, August 28th will be given a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a dividend yield of 0.53%. The ex-dividend date of this dividend is Wednesday, August 28th. Electronic Arts’s payout ratio is 16.24%.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on EA. Roth Mkm lifted their target price on Electronic Arts from $135.00 to $152.00 and gave the company a “neutral” rating in a report on Monday, July 29th. BMO Capital Markets reaffirmed an “outperform” rating and set a $154.00 target price on shares of Electronic Arts in a report on Tuesday, July 30th. Benchmark increased their target price on shares of Electronic Arts from $153.00 to $163.00 and gave the stock a “buy” rating in a research note on Wednesday, July 31st. Morgan Stanley boosted their price target on shares of Electronic Arts from $140.00 to $150.00 and gave the company an “equal weight” rating in a research report on Tuesday, July 23rd. Finally, Wedbush increased their price objective on Electronic Arts from $162.00 to $170.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 31st. Nine analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $161.28.

Insider Buying and Selling at Electronic Arts

In other Electronic Arts news, insider Vijayanthimala Singh sold 800 shares of Electronic Arts stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $139.71, for a total value of $111,768.00. Following the completion of the sale, the insider now owns 38,574 shares of the company’s stock, valued at approximately $5,389,173.54. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other Electronic Arts news, insider Vijayanthimala Singh sold 800 shares of the business’s stock in a transaction dated Monday, July 1st. The stock was sold at an average price of $139.71, for a total transaction of $111,768.00. Following the completion of the sale, the insider now directly owns 38,574 shares in the company, valued at approximately $5,389,173.54. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Stuart Canfield sold 1,500 shares of the stock in a transaction that occurred on Tuesday, June 25th. The stock was sold at an average price of $141.01, for a total transaction of $211,515.00. Following the completion of the transaction, the chief financial officer now owns 10,553 shares in the company, valued at approximately $1,488,078.53. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 27,070 shares of company stock worth $3,963,638. 0.22% of the stock is currently owned by company 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 license games from others, including FIFA, Madden NFL, UFC, and Star Wars brands.