Cibc World Markets Corp Sells 10,391 Shares of Electronic Arts Inc. (NASDAQ:EA)

Cibc World Markets Corp decreased its holdings in Electronic Arts Inc. (NASDAQ:EA) by 5.2% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 188,452 shares of the game software company’s stock after selling 10,391 shares during the quarter. Cibc World Markets Corp owned approximately 0.07% of Electronic Arts worth $27,105,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of EA. Coldstream Capital Management Inc. grew its stake in shares of Electronic Arts by 3.2% during the first quarter. Coldstream Capital Management Inc. now owns 2,329 shares of the game software company’s stock worth $315,000 after purchasing an additional 72 shares during the period. Jackson Creek Investment Advisors LLC grew its stake in shares of Electronic Arts by 2.6% during the second quarter. Jackson Creek Investment Advisors LLC now owns 3,039 shares of the game software company’s stock worth $437,000 after purchasing an additional 77 shares during the period. Ameritas Investment Partners Inc. grew its stake in shares of Electronic Arts by 0.8% during the second quarter. Ameritas Investment Partners Inc. now owns 10,103 shares of the game software company’s stock worth $1,453,000 after purchasing an additional 83 shares during the period. Alhambra Investment Partners LLC grew its stake in shares of Electronic Arts by 4.3% during the second quarter. Alhambra Investment Partners LLC now owns 2,085 shares of the game software company’s stock worth $300,000 after purchasing an additional 85 shares during the period. Finally, Motco grew its stake in shares of Electronic Arts by 97.8% during the second quarter. Motco now owns 178 shares of the game software company’s stock worth $26,000 after purchasing an additional 88 shares during the period. Hedge funds and other institutional investors own 88.68% of the company’s stock.

In other news, CFO Blake J. Jorgensen sold 3,315 shares of Electronic Arts stock in a transaction dated Wednesday, August 11th. The stock was sold at an average price of $137.87, for a total value of $457,039.05. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Andrew Wilson sold 10,000 shares of the firm’s stock in a transaction dated Monday, June 21st. The shares were sold at an average price of $140.79, for a total value of $1,407,900.00. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 50,845 shares of company stock valued at $7,224,821. 0.65% of the stock is owned by corporate insiders.

Shares of EA stock opened at $145.37 on Wednesday. The stock’s fifty day moving average price is $142.13 and its two-hundred day moving average price is $140.35. The company has a market cap of $41.37 billion, a PE ratio of 62.66 and a beta of 0.90. Electronic Arts Inc. has a fifty-two week low of $110.15 and a fifty-two week high of $150.30. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.89 and a current ratio of 1.89.

Electronic Arts (NASDAQ:EA) last issued its earnings results on Tuesday, August 3rd. The game software company reported $0.79 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.27 by $0.52. Electronic Arts had a return on equity of 13.81% and a net margin of 11.82%. The firm had revenue of $1.34 billion for the quarter, compared to the consensus estimate of $1.28 billion. During the same quarter last year, the business posted $1.25 EPS. The company’s revenue was down 3.9% compared to the same quarter last year. On average, equities analysts predict that Electronic Arts Inc. will post 5.11 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 22nd. Investors of record on Wednesday, September 1st will be given a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a yield of 0.47%. The ex-dividend date is Tuesday, August 31st. Electronic Arts’s dividend payout ratio is currently 14.98%.

A number of brokerages recently commented on EA. KeyCorp decreased their price objective on Electronic Arts from $180.00 to $175.00 and set an “overweight” rating for the company in a research note on Wednesday, July 28th. Zacks Investment Research cut Electronic Arts from a “buy” rating to a “hold” rating and set a $144.00 target price for the company. in a research note on Friday, August 6th. Wedbush boosted their target price on Electronic Arts from $175.00 to $194.00 and gave the company an “outperform” rating in a research note on Thursday, August 5th. Truist Securities boosted their target price on Electronic Arts from $160.00 to $162.00 and gave the company a “buy” rating in a research note on Thursday, July 15th. Finally, Truist boosted their target price on Electronic Arts from $160.00 to $162.00 and gave the company a “buy” rating in a research note on Thursday, July 15th. Ten equities research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Buy” and a consensus target price of $162.85.

Electronic Arts Company Profile

Electronic Arts, Inc develops, markets, publishes, and distributes games, content, and services for game consoles, PCs, mobile phones, and tablets worldwide. The company develops and publishes games and services across various genres, such as sports, first-person shooter, action, role-playing, and simulation primarily under the Battlefield, The Sims, Apex Legends, Anthem, Need for Speed, and Plants v.

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Institutional Ownership by Quarter for Electronic Arts (NASDAQ:EA)

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