Assetmark Inc. Sells 346 Shares of Electronic Arts Inc. (NASDAQ:EA)

Assetmark Inc. reduced its position in shares of Electronic Arts Inc. (NASDAQ:EA) by 2.2% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 15,109 shares of the game software company’s stock after selling 346 shares during the period. Assetmark Inc.’s holdings in Electronic Arts were worth $2,167,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Empowered Funds LLC grew its stake in Electronic Arts by 23.7% in the 1st quarter. Empowered Funds LLC now owns 9,631 shares of the game software company’s stock valued at $1,278,000 after purchasing an additional 1,844 shares during the period. Sei Investments Co. boosted its holdings in shares of Electronic Arts by 17.0% in the 1st quarter. Sei Investments Co. now owns 130,988 shares of the game software company’s stock worth $17,379,000 after buying an additional 18,985 shares during the last quarter. Avantax Advisory Services Inc. grew its position in Electronic Arts by 6.9% during the first quarter. Avantax Advisory Services Inc. now owns 3,408 shares of the game software company’s stock valued at $452,000 after buying an additional 220 shares during the period. State Board of Administration of Florida Retirement System increased its holdings in Electronic Arts by 13.5% during the first quarter. State Board of Administration of Florida Retirement System now owns 348,670 shares of the game software company’s stock worth $46,258,000 after buying an additional 41,567 shares during the last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. raised its position in Electronic Arts by 18.9% in the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 313,595 shares of the game software company’s stock worth $41,605,000 after acquiring an additional 49,906 shares during the period. 90.23% of the stock is currently owned by hedge funds and other institutional investors.

Electronic Arts Trading Down 0.1 %

Shares of EA stock opened at $162.72 on Thursday. The company has a market capitalization of $42.68 billion, a PE ratio of 41.83, a price-to-earnings-growth ratio of 2.13 and a beta of 0.78. Electronic Arts Inc. has a 52-week low of $124.92 and a 52-week high of $163.00. The business’s fifty day moving average is $146.46 and its 200 day moving average is $142.05. The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.43 and a current ratio of 1.43.

Electronic Arts Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 18th. Shareholders of record on Wednesday, November 27th will be issued a $0.19 dividend. The ex-dividend date is Wednesday, November 27th. This represents a $0.76 annualized dividend and a dividend yield of 0.47%. Electronic Arts’s payout ratio is currently 19.54%.

Insider Activity

In other news, CEO Andrew Wilson sold 2,500 shares of the stock in a transaction on Monday, August 26th. The shares were sold at an average price of $148.88, for a total value of $372,200.00. Following the transaction, the chief executive officer now owns 56,747 shares of the company’s stock, valued at $8,448,493.36. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In related news, insider Vijayanthimala Singh sold 7,384 shares of the business’s stock in a transaction that occurred on Wednesday, August 28th. The stock was sold at an average price of $149.91, for a total value of $1,106,935.44. Following the completion of the sale, the insider now owns 31,190 shares in the company, valued at $4,675,692.90. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Andrew Wilson sold 2,500 shares of the stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $148.88, for a total transaction of $372,200.00. Following the transaction, the chief executive officer now owns 56,747 shares in the company, valued at $8,448,493.36. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 26,144 shares of company stock worth $3,886,282. 0.22% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

EA has been the subject of a number of research reports. The Goldman Sachs Group increased their target price on shares of Electronic Arts from $139.00 to $150.00 and gave the company a “neutral” rating in a research report on Wednesday, July 31st. Argus raised their target price on Electronic Arts from $161.00 to $183.00 and gave the stock a “buy” rating in a research report on Thursday, November 7th. Benchmark restated a “buy” rating and issued a $163.00 target price on shares of Electronic Arts in a research note on Wednesday, October 30th. Raymond James increased their price target on Electronic Arts from $155.00 to $170.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 31st. Finally, TD Cowen boosted their price objective on Electronic Arts from $163.00 to $183.00 and gave the company a “buy” rating in a research note on Wednesday, July 31st. Eight investment analysts have rated the stock with a hold rating, twelve have assigned a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, Electronic Arts has an average rating of “Moderate Buy” and an average price target of $165.37.

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.