Pitcairn Co. Buys 237 Shares of Electronic Arts Inc. (NASDAQ:EA)

Pitcairn Co. raised its stake in shares of Electronic Arts Inc. (NASDAQ:EA) by 5.9% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 4,269 shares of the game software company’s stock after acquiring an additional 237 shares during the quarter. Pitcairn Co.’s holdings in Electronic Arts were worth $566,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently made changes to their positions in EA. Jennison Associates LLC raised its stake in Electronic Arts by 1.3% in the 4th quarter. Jennison Associates LLC now owns 6,339 shares of the game software company’s stock worth $867,000 after acquiring an additional 84 shares during the last quarter. Mirador Capital Partners LP grew its position in shares of Electronic Arts by 2.9% during the 4th quarter. Mirador Capital Partners LP now owns 3,264 shares of the game software company’s stock valued at $447,000 after acquiring an additional 91 shares during the period. MCF Advisors LLC boosted its holdings in Electronic Arts by 36.9% in the 4th quarter. MCF Advisors LLC now owns 356 shares of the game software company’s stock worth $49,000 after buying an additional 96 shares during the last quarter. Claro Advisors LLC boosted its holdings in Electronic Arts by 5.6% in the 1st quarter. Claro Advisors LLC now owns 1,881 shares of the game software company’s stock worth $250,000 after buying an additional 100 shares during the last quarter. Finally, Cape Investment Advisory Inc. boosted its holdings in Electronic Arts by 102.0% in the 4th quarter. Cape Investment Advisory Inc. now owns 200 shares of the game software company’s stock worth $27,000 after buying an additional 101 shares during the last quarter. Hedge funds and other institutional investors own 90.23% of the company’s stock.

Electronic Arts Price Performance

Shares of EA opened at $141.80 on Friday. The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.37 and a current ratio of 1.37. The company has a market capitalization of $37.68 billion, a price-to-earnings ratio of 30.30, a price-to-earnings-growth ratio of 2.23 and a beta of 0.79. Electronic Arts Inc. has a fifty-two week low of $117.47 and a fifty-two week high of $148.22. The firm has a 50-day simple moving average of $138.15 and a 200-day simple moving average of $135.53.

Electronic Arts (NASDAQ:EA) last announced its quarterly earnings data on Tuesday, May 7th. The game software company reported $0.92 EPS for the quarter, missing analysts’ consensus estimates of $1.09 by ($0.17). Electronic Arts had a net margin of 16.83% and a return on equity of 18.81%. The firm had revenue of $1.67 billion during the quarter, compared to analyst estimates of $1.78 billion. On average, equities research analysts anticipate that Electronic Arts Inc. will post 5.75 earnings per share for the current year.

Electronic Arts Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, June 19th. Stockholders of record on Wednesday, May 29th were given a dividend of $0.19 per share. The ex-dividend date was Wednesday, May 29th. This represents a $0.76 dividend on an annualized basis and a dividend yield of 0.54%. Electronic Arts’s payout ratio is 16.24%.

Analyst Upgrades and Downgrades

EA has been the topic of several recent research reports. Citigroup cut Electronic Arts from a “buy” rating to a “neutral” rating and boosted their target price for the stock from $148.00 to $161.00 in a report on Monday, July 15th. Morgan Stanley boosted their price target on shares of Electronic Arts from $140.00 to $150.00 and gave the stock an “equal weight” rating in a research note on Tuesday. BMO Capital Markets dropped their price target on shares of Electronic Arts from $160.00 to $154.00 and set an “outperform” rating for the company in a research note on Thursday, May 9th. Jefferies Financial Group assumed coverage on shares of Electronic Arts in a research note on Thursday, July 11th. They set a “buy” rating and a $165.00 target price for the company. Finally, Roth Mkm lowered their target price on shares of Electronic Arts from $140.00 to $135.00 and set a “neutral” rating for the company in a research note on Wednesday, May 1st. Nine analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $152.56.

Insider Transactions at Electronic Arts

In other news, CAO Eric Charles Kelly sold 3,000 shares of the firm’s stock in a transaction that occurred on Wednesday, May 22nd. The shares were sold at an average price of $133.75, for a total transaction of $401,250.00. Following the completion of the transaction, the chief accounting officer now directly owns 7,458 shares of the company’s stock, valued at approximately $997,507.50. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other news, CEO Andrew Wilson sold 4,639 shares of the business’s stock in a transaction on Wednesday, May 22nd. The shares were sold at an average price of $134.15, for a total transaction of $622,321.85. Following the completion of the sale, the chief executive officer now directly owns 66,747 shares of the company’s stock, valued at approximately $8,954,110.05. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Eric Charles Kelly sold 3,000 shares of the business’s stock in a transaction on Wednesday, May 22nd. The shares were sold at an average price of $133.75, for a total transaction of $401,250.00. Following the sale, the chief accounting officer now directly owns 7,458 shares of the company’s stock, valued at $997,507.50. The disclosure for this sale can be found here. Insiders sold a total of 23,539 shares of company stock valued at $3,199,031 in the last ninety days. Corporate insiders own 0.22% of the company’s stock.

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.