Electronic Arts Inc. (NASDAQ:EA) Sees Large Decrease in Short Interest

Electronic Arts Inc. (NASDAQ:EA) was the recipient of a significant decline in short interest in November. As of November 30th, there was short interest totalling 6,350,000 shares, a decline of 11.3% from the November 15th total of 7,160,000 shares. Approximately 2.7% of the shares of the stock are short sold. Based on an average daily trading volume, of 1,840,000 shares, the short-interest ratio is presently 3.5 days.

Wall Street Analyst Weigh In

Several brokerages have commented on EA. Morgan Stanley reaffirmed an “equal weight” rating and issued a $150.00 target price on shares of Electronic Arts in a research note on Wednesday, September 18th. BNP Paribas upgraded Electronic Arts to a “strong-buy” rating in a report on Wednesday, October 9th. DZ Bank upgraded shares of Electronic Arts from a “hold” rating to a “buy” rating and increased their target price for the stock from $135.00 to $177.00 in a report on Thursday, October 31st. Argus lifted their price target on shares of Electronic Arts from $161.00 to $183.00 and gave the company a “buy” rating in a research note on Thursday, November 7th. Finally, Roth Mkm raised their price objective on Electronic Arts from $154.00 to $158.00 and gave the company a “neutral” rating in a report on Wednesday, October 30th. Seven analysts have rated the stock with a hold rating, twelve 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 has an average rating of “Moderate Buy” and an average price target of $165.37.

Insiders Place Their Bets

In related news, CEO Andrew Wilson sold 2,500 shares of the firm’s stock in a transaction that occurred on Wednesday, September 25th. The shares were sold at an average price of $141.50, for a total value of $353,750.00. Following the completion of the sale, the chief executive officer now owns 54,247 shares of the company’s stock, valued at $7,675,950.50. This trade represents a 4.41 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Vijayanthimala Singh sold 1,000 shares of the company’s stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $143.24, for a total value of $143,240.00. Following the transaction, the insider now directly owns 29,190 shares in the company, valued at approximately $4,181,175.60. This represents a 3.31 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 20,000 shares of company stock valued at $3,100,805. 0.22% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Electronic Arts

Institutional investors have recently made changes to their positions in the stock. Larson Financial Group LLC increased its position in shares of Electronic Arts by 31.8% during the third quarter. Larson Financial Group LLC now owns 290 shares of the game software company’s stock worth $42,000 after acquiring an additional 70 shares in the last quarter. Prime Capital Investment Advisors LLC increased its holdings in Electronic Arts by 5.1% during the 3rd quarter. Prime Capital Investment Advisors LLC now owns 1,572 shares of the game software company’s stock worth $225,000 after purchasing an additional 76 shares in the last quarter. Cullen Frost Bankers Inc. raised its stake in shares of Electronic Arts by 2.9% in the second quarter. Cullen Frost Bankers Inc. now owns 2,828 shares of the game software company’s stock worth $394,000 after purchasing an additional 79 shares during the last quarter. Shepherd Financial Partners LLC lifted its holdings in shares of Electronic Arts by 1.6% in the third quarter. Shepherd Financial Partners LLC now owns 5,690 shares of the game software company’s stock valued at $816,000 after purchasing an additional 88 shares in the last quarter. Finally, Grove Bank & Trust boosted its position in shares of Electronic Arts by 23.5% during the second quarter. Grove Bank & Trust now owns 494 shares of the game software company’s stock valued at $69,000 after buying an additional 94 shares during the last quarter. Institutional investors and hedge funds own 90.23% of the company’s stock.

Electronic Arts Trading Down 1.0 %

EA stock traded down $1.61 during midday trading on Tuesday, hitting $154.79. The stock had a trading volume of 3,085,153 shares, compared to its average volume of 2,055,084. The company has a current ratio of 1.43, a quick ratio of 1.43 and a debt-to-equity ratio of 0.25. The business has a fifty day moving average price of $156.52 and a two-hundred day moving average price of $147.93. Electronic Arts has a 1-year low of $124.92 and a 1-year high of $168.50. The firm has a market cap of $40.60 billion, a P/E ratio of 39.79, a price-to-earnings-growth ratio of 2.14 and a beta of 0.79.

Electronic Arts Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 18th. Stockholders of record on Wednesday, November 27th will be paid a $0.19 dividend. The ex-dividend date of this dividend is Wednesday, November 27th. This represents a $0.76 annualized dividend and a dividend yield of 0.49%. Electronic Arts’s dividend payout ratio is currently 19.54%.

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.