Massachusetts Financial Services Co. MA Cuts Stock Holdings in Electronic Arts Inc. (NASDAQ:EA)

Massachusetts Financial Services Co. MA reduced its stake in Electronic Arts Inc. (NASDAQ:EA) by 0.6% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,159,418 shares of the game software company’s stock after selling 26,058 shares during the quarter. Massachusetts Financial Services Co. MA’s holdings in Electronic Arts were worth $596,627,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also bought and sold shares of the stock. Huntington National Bank lifted its stake in Electronic Arts by 983.4% during the third quarter. Huntington National Bank now owns 257,902 shares of the game software company’s stock worth $36,993,000 after purchasing an additional 234,098 shares during the last quarter. Park Avenue Securities LLC lifted its position in Electronic Arts by 34.9% in the 2nd quarter. Park Avenue Securities LLC now owns 14,227 shares of the game software company’s stock worth $1,982,000 after buying an additional 3,681 shares during the last quarter. Greenwood Capital Associates LLC purchased a new stake in Electronic Arts in the third quarter worth approximately $5,597,000. Chesapeake Capital Corp IL bought a new position in Electronic Arts during the third quarter valued at approximately $950,000. Finally, Bessemer Group Inc. raised its stake in shares of Electronic Arts by 97.5% during the first quarter. Bessemer Group Inc. now owns 19,751 shares of the game software company’s stock worth $2,620,000 after acquiring an additional 9,753 shares in the last quarter. 90.23% of the stock is currently owned by institutional investors.

Insider Activity

In other Electronic Arts news, 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 value of $372,200.00. Following the transaction, the chief executive officer now directly owns 56,747 shares in the company, valued at approximately $8,448,493.36. This trade represents a 4.22 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Vijayanthimala Singh sold 7,384 shares of the business’s stock in a transaction on Wednesday, August 28th. The shares were sold at an average price of $149.91, for a total transaction of $1,106,935.44. Following the sale, the insider now directly owns 31,190 shares of the company’s stock, valued at approximately $4,675,692.90. The trade was a 19.14 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 31,384 shares of company stock valued at $4,776,635 in the last 90 days. 0.22% of the stock is currently owned by insiders.

Electronic Arts Stock Performance

Shares of EA opened at $168.08 on Friday. The company has a market cap of $44.08 billion, a price-to-earnings ratio of 43.21, a P/E/G ratio of 2.17 and a beta of 0.78. The business’s fifty day simple moving average is $148.94 and its two-hundred day simple moving average is $143.49. Electronic Arts Inc. has a 12 month low of $124.92 and a 12 month high of $168.07. The company has a current ratio of 1.43, a quick ratio of 1.43 and a debt-to-equity ratio of 0.25.

Electronic Arts Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, December 18th. Shareholders of record on Wednesday, November 27th will be paid a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a yield of 0.45%. The ex-dividend date is Wednesday, November 27th. Electronic Arts’s dividend payout ratio is currently 19.54%.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on EA shares. DZ Bank raised shares of Electronic Arts from a “hold” rating to a “buy” rating and increased their target price for the company from $135.00 to $177.00 in a report on Thursday, October 31st. Argus boosted their target price on Electronic Arts from $161.00 to $183.00 and gave the company a “buy” rating in a research note on Thursday, November 7th. Raymond James increased their target price on Electronic Arts from $155.00 to $170.00 and gave the company an “outperform” rating in a report on Wednesday, July 31st. UBS Group lifted their price target on Electronic Arts from $155.00 to $160.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 30th. Finally, Bank of America increased their price objective on Electronic Arts from $150.00 to $170.00 and gave the company a “buy” rating in a research note on Wednesday, July 31st. Eight equities research analysts have rated the stock with a hold rating, twelve have issued a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, Electronic Arts currently has an average rating of “Moderate Buy” and a consensus target price of $165.37.

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. 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.