Pallas Capital Advisors LLC Raises Stock Position in Electronic Arts Inc. (NASDAQ:EA)

Pallas Capital Advisors LLC raised its stake in shares of Electronic Arts Inc. (NASDAQ:EA) by 5.2% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 2,205 shares of the game software company’s stock after buying an additional 108 shares during the period. Pallas Capital Advisors LLC’s holdings in Electronic Arts were worth $323,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Ashton Thomas Securities LLC bought a new stake in Electronic Arts during the third quarter valued at approximately $25,000. Reston Wealth Management LLC purchased a new position in shares of Electronic Arts during the 3rd quarter worth $36,000. Bruce G. Allen Investments LLC grew its position in shares of Electronic Arts by 156.6% during the 3rd quarter. Bruce G. Allen Investments LLC now owns 272 shares of the game software company’s stock valued at $39,000 after acquiring an additional 166 shares during the period. Larson Financial Group LLC increased its stake in shares of Electronic Arts by 31.8% in the 3rd quarter. Larson Financial Group LLC now owns 290 shares of the game software company’s stock worth $42,000 after purchasing an additional 70 shares in the last quarter. Finally, Versant Capital Management Inc increased its stake in shares of Electronic Arts by 9,280.0% in the 4th quarter. Versant Capital Management Inc now owns 469 shares of the game software company’s stock worth $69,000 after purchasing an additional 464 shares in the last quarter. 90.23% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several analysts have issued reports on EA shares. BMO Capital Markets reissued an “outperform” rating and set a $160.00 price target (up previously from $154.00) on shares of Electronic Arts in a report on Wednesday, October 30th. Argus boosted their price objective on Electronic Arts from $161.00 to $183.00 and gave the company a “buy” rating in a research note on Thursday, November 7th. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and issued a $160.00 target price on shares of Electronic Arts in a report on Wednesday, September 18th. DZ Bank raised shares of Electronic Arts from a “hold” rating to a “buy” rating and lifted their price target for the company from $135.00 to $177.00 in a report on Thursday, October 31st. Finally, UBS Group increased their price objective on shares of Electronic Arts from $155.00 to $160.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 30th. Eight equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $165.37.

Insiders Place Their Bets

In related news, CEO Andrew Wilson sold 2,500 shares of the stock in a transaction on Friday, October 25th. The stock was sold at an average price of $145.87, for a total transaction of $364,675.00. Following the sale, the chief executive officer now owns 51,747 shares in the company, valued at approximately $7,548,334.89. This represents a 4.61 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Vijayanthimala Singh sold 1,000 shares of the firm’s stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $147.57, for a total value of $147,570.00. Following the completion of the sale, the insider now owns 29,216 shares of the company’s stock, valued at approximately $4,311,405.12. This represents a 3.31 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 22,000 shares of company stock valued at $3,422,485 in the last three months. Corporate insiders own 0.22% of the company’s stock.

Electronic Arts Stock Up 0.3 %

Shares of EA opened at $142.13 on Thursday. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.43 and a quick ratio of 1.43. The stock has a market capitalization of $37.28 billion, a price-to-earnings ratio of 36.54, a price-to-earnings-growth ratio of 2.06 and a beta of 0.80. Electronic Arts Inc. has a 1 year low of $124.92 and a 1 year high of $168.50. The business’s 50 day simple moving average is $156.39 and its 200-day simple moving average is $149.11.

Electronic Arts Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, December 18th. Shareholders of record on Wednesday, November 27th were given a dividend of $0.19 per share. The ex-dividend date of this dividend was Wednesday, November 27th. This represents a $0.76 annualized dividend and a yield of 0.53%. Electronic Arts’s dividend payout ratio (DPR) is currently 19.54%.

Electronic Arts Profile

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.