Cullinan Associates Inc. Sells 17,784 Shares of Electronic Arts Inc. (NASDAQ:EA)

Cullinan Associates Inc. trimmed its position in shares of Electronic Arts Inc. (NASDAQ:EAGet Rating) by 10.4% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 153,261 shares of the game software company’s stock after selling 17,784 shares during the quarter. Electronic Arts makes up 1.0% of Cullinan Associates Inc.’s holdings, making the stock its 18th biggest holding. Cullinan Associates Inc.’s holdings in Electronic Arts were worth $18,725,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the company. Checchi Capital Advisers LLC lifted its stake in shares of Electronic Arts by 2.2% in the third quarter. Checchi Capital Advisers LLC now owns 3,820 shares of the game software company’s stock worth $442,000 after acquiring an additional 83 shares during the period. Synovus Financial Corp lifted its stake in shares of Electronic Arts by 1.5% in the third quarter. Synovus Financial Corp now owns 5,673 shares of the game software company’s stock worth $654,000 after acquiring an additional 85 shares during the period. Moody National Bank Trust Division boosted its stake in shares of Electronic Arts by 1.3% in the 4th quarter. Moody National Bank Trust Division now owns 7,430 shares of the game software company’s stock valued at $908,000 after purchasing an additional 92 shares during the last quarter. Flputnam Investment Management Co. boosted its stake in shares of Electronic Arts by 4.3% in the 3rd quarter. Flputnam Investment Management Co. now owns 2,373 shares of the game software company’s stock valued at $275,000 after purchasing an additional 98 shares during the last quarter. Finally, Mission Wealth Management LP increased its position in shares of Electronic Arts by 1.6% during the third quarter. Mission Wealth Management LP now owns 6,183 shares of the game software company’s stock worth $715,000 after buying an additional 99 shares during the period. 89.46% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

EA has been the topic of a number of research analyst reports. TheStreet cut shares of Electronic Arts from a “b-” rating to a “c+” rating in a research report on Thursday, February 23rd. Raymond James dropped their price target on Electronic Arts from $150.00 to $135.00 and set an “outperform” rating on the stock in a research note on Wednesday, February 1st. Credit Suisse Group reduced their price objective on shares of Electronic Arts from $154.00 to $132.00 in a research report on Wednesday, February 1st. Robert W. Baird lowered their price objective on shares of Electronic Arts from $145.00 to $125.00 and set an “outperform” rating for the company in a research note on Wednesday, February 1st. Finally, Wells Fargo & Company cut their target price on shares of Electronic Arts from $150.00 to $120.00 and set an “equal weight” rating on the stock in a research note on Wednesday, February 1st. Ten investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat.com, Electronic Arts has a consensus rating of “Moderate Buy” and a consensus target price of $135.54.

Insider Buying and Selling at Electronic Arts

In other Electronic Arts news, CEO Andrew Wilson sold 5,000 shares of the stock in a transaction dated Tuesday, December 27th. The shares were sold at an average price of $120.84, for a total value of $604,200.00. Following the completion of the sale, the chief executive officer now owns 85,274 shares in the company, valued at approximately $10,304,510.16. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other news, CEO Andrew Wilson sold 5,000 shares of the stock in a transaction that occurred on Tuesday, December 27th. The shares were sold at an average price of $120.84, for a total transaction of $604,200.00. Following the completion of the transaction, the chief executive officer now directly owns 85,274 shares of the company’s stock, valued at approximately $10,304,510.16. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Vijayanthimala Singh sold 800 shares of the stock in a transaction that occurred on Wednesday, February 1st. The shares were sold at an average price of $116.78, for a total transaction of $93,424.00. Following the transaction, the insider now directly owns 25,355 shares of the company’s stock, valued at $2,960,956.90. The disclosure for this sale can be found here. In the last 90 days, insiders sold 13,100 shares of company stock worth $1,626,881. Insiders own 0.37% of the company’s stock.

Electronic Arts Trading Down 0.2 %

NASDAQ EA opened at $113.35 on Friday. The company has a current ratio of 1.23, a quick ratio of 1.23 and a debt-to-equity ratio of 0.25. The business has a fifty day simple moving average of $117.00 and a 200 day simple moving average of $122.04. Electronic Arts Inc. has a 12 month low of $108.53 and a 12 month high of $142.79. The firm has a market capitalization of $31.29 billion, a P/E ratio of 30.55, a PEG ratio of 8.46 and a beta of 0.86.

Electronic Arts (NASDAQ:EAGet Rating) last posted its earnings results on Tuesday, January 31st. The game software company reported $0.73 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.62 by ($1.89). Electronic Arts had a return on equity of 14.38% and a net margin of 14.08%. The firm had revenue of $2.34 billion during the quarter, compared to the consensus estimate of $2.50 billion. During the same quarter in the previous year, the company earned $2.80 EPS. The business’s revenue was down 9.1% compared to the same quarter last year. On average, analysts predict that Electronic Arts Inc. will post 4.44 EPS for the current fiscal year.

Electronic Arts Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 22nd. Shareholders of record on Wednesday, March 1st will be paid a $0.19 dividend. The ex-dividend date of this dividend is Tuesday, February 28th. This represents a $0.76 annualized dividend and a yield of 0.67%. Electronic Arts’s dividend payout ratio (DPR) is 20.49%.

Electronic Arts Profile

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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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