DoubleLine ETF Adviser LP Purchases 3,256 Shares of Electronic Arts Inc. (NASDAQ:EA)

DoubleLine ETF Adviser LP raised its position in shares of Electronic Arts Inc. (NASDAQ:EA) by 11.7% in the second quarter, Holdings Channel reports. The firm owned 31,127 shares of the game software company’s stock after acquiring an additional 3,256 shares during the quarter. Electronic Arts accounts for 1.1% of DoubleLine ETF Adviser LP’s holdings, making the stock its 20th biggest holding. DoubleLine ETF Adviser LP’s holdings in Electronic Arts were worth $4,337,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of EA. North Star Investment Management Corp. raised its position in Electronic Arts by 333.3% in the 1st quarter. North Star Investment Management Corp. now owns 195 shares of the game software company’s stock worth $26,000 after buying an additional 150 shares during the last quarter. Cape Investment Advisory Inc. raised its holdings 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 valued at $27,000 after purchasing an additional 101 shares during the last quarter. Redmont Wealth Advisors LLC bought a new position in Electronic Arts during the first quarter valued at approximately $27,000. Opal Wealth Advisors LLC purchased a new stake in Electronic Arts in the second quarter worth approximately $28,000. Finally, YHB Investment Advisors Inc. bought a new stake in Electronic Arts in the 1st quarter worth approximately $30,000. 90.23% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the company. Oppenheimer raised their price target on Electronic Arts from $150.00 to $170.00 and gave the stock an “outperform” rating in a research note on Tuesday, July 16th. StockNews.com upgraded shares of Electronic Arts from a “hold” rating to a “buy” rating in a research note on Wednesday, June 26th. Jefferies Financial Group began coverage on Electronic Arts in a research note on Thursday, July 11th. They issued a “buy” rating and a $165.00 price objective for the company. Roth Mkm reissued a “neutral” rating and set a $154.00 price target on shares of Electronic Arts in a report on Thursday, September 19th. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and set a $160.00 price objective on shares of Electronic Arts in a research report on Wednesday, September 18th. Nine investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat, Electronic Arts currently has an average rating of “Moderate Buy” and a consensus price target of $161.94.

Electronic Arts Stock Performance

EA opened at $141.48 on Thursday. 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 debt-to-equity ratio of 0.25, a quick ratio of 1.45 and a current ratio of 1.45. The company has a fifty day moving average of $145.86 and a 200 day moving average of $137.84. The stock has a market capitalization of $37.38 billion, a price-to-earnings ratio of 30.23, a PEG ratio of 1.91 and a beta of 0.79.

Electronic Arts (NASDAQ:EA) last issued its quarterly earnings data on Tuesday, July 30th. The game software company reported $0.09 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.03 by $0.06. The business had revenue of $1.26 billion for the quarter, compared to the consensus estimate of $1.21 billion. Electronic Arts had a return on equity of 16.34% and a net margin of 15.77%. As a group, sell-side analysts forecast that Electronic Arts Inc. will post 5.93 earnings per share for the current fiscal year.

Electronic Arts Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, September 18th. Shareholders of record on Wednesday, August 28th were paid a $0.19 dividend. The ex-dividend date was Wednesday, August 28th. This represents a $0.76 dividend on an annualized basis and a yield of 0.54%. Electronic Arts’s payout ratio is 16.24%.

Insiders Place Their Bets

In other Electronic Arts news, insider Vijayanthimala Singh sold 800 shares of the company’s stock in a transaction on Monday, July 1st. The stock was 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 directly owns 38,574 shares in the company, valued at approximately $5,389,173.54. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other news, insider Vijayanthimala Singh sold 800 shares of the business’s stock in a transaction dated 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 in the company, valued at approximately $5,389,173.54. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Jacob J. Schatz sold 1,500 shares of the stock in a transaction that occurred on Wednesday, August 28th. The shares were sold at an average price of $149.32, for a total transaction of $223,980.00. Following the transaction, the executive vice president now owns 27,860 shares in the company, valued at $4,160,055.20. The disclosure for this sale can be found here. Insiders have sold 24,570 shares of company stock worth $3,621,343 in the last three months. Corporate insiders own 0.22% of the company’s stock.

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.