Electronic Arts Inc. (NASDAQ:EA) Position Cut by Cinctive Capital Management LP

Cinctive Capital Management LP lowered its holdings in shares of Electronic Arts Inc. (NASDAQ:EA) by 84.7% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 45,232 shares of the game software company’s stock after selling 251,366 shares during the period. Cinctive Capital Management LP’s holdings in Electronic Arts were worth $6,488,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in the business. Ashton Thomas Securities LLC bought a new position in shares of Electronic Arts in the third quarter valued at approximately $25,000. Opal Wealth Advisors LLC bought a new position in Electronic Arts during the 2nd quarter valued at $28,000. Family Firm Inc. acquired a new position in shares of Electronic Arts during the 2nd quarter valued at $33,000. Reston Wealth Management LLC acquired a new position in shares of Electronic Arts during the 3rd quarter valued at $36,000. Finally, Gradient Investments LLC raised its stake in shares of Electronic Arts by 592.1% in the 2nd quarter. Gradient Investments LLC now owns 263 shares of the game software company’s stock worth $37,000 after buying an additional 225 shares in the last quarter. Institutional investors and hedge funds own 90.23% of the company’s stock.

Insider Activity at Electronic Arts

In other Electronic Arts news, insider Vijayanthimala Singh sold 1,000 shares of the business’s stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $143.24, for a total value of $143,240.00. Following the sale, the insider now owns 29,190 shares of the company’s stock, valued at $4,181,175.60. The trade was a 3.31 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Andrew Wilson sold 5,000 shares of the firm’s stock in a transaction dated Wednesday, November 20th. The stock was sold at an average price of $166.47, for a total transaction of $832,350.00. Following the transaction, the chief executive officer now directly owns 52,615 shares of the company’s stock, valued at $8,758,819.05. The trade was a 8.68 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 20,000 shares of company stock worth $3,073,520 in the last ninety days. 0.22% of the stock is currently owned by insiders.

Electronic Arts Stock Up 0.3 %

EA stock opened at $163.67 on Monday. The stock has a market capitalization of $42.93 billion, a price-to-earnings ratio of 42.07, a price-to-earnings-growth ratio of 2.14 and a beta of 0.78. The company has a 50-day moving average of $151.54 and a two-hundred day moving average of $145.14. Electronic Arts Inc. has a 52-week low of $124.92 and a 52-week high of $168.50. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.43 and a quick ratio of 1.43.

Electronic Arts Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, December 18th. Investors of record on Wednesday, November 27th will be given a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a yield of 0.46%. The ex-dividend date is Wednesday, November 27th. Electronic Arts’s dividend payout ratio (DPR) is currently 19.54%.

Analysts Set New Price Targets

EA has been the topic of a number of research analyst reports. Benchmark reaffirmed a “buy” rating and set a $163.00 target price on shares of Electronic Arts in a report on Wednesday, October 30th. Argus lifted their price objective on shares of Electronic Arts from $161.00 to $183.00 and gave the stock a “buy” rating in a research note on Thursday, November 7th. Wedbush reissued an “outperform” rating and set a $170.00 target price on shares of Electronic Arts in a research note on Friday, October 25th. DZ Bank upgraded shares of Electronic Arts from a “hold” rating to a “buy” rating and lifted their price target for the stock from $135.00 to $177.00 in a research report on Thursday, October 31st. Finally, UBS Group raised their price objective on Electronic Arts from $155.00 to $160.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 30th. Eight analysts have rated the stock with a hold rating, twelve have given a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, Electronic Arts has a consensus rating of “Moderate Buy” and a consensus target price of $165.37.

About Electronic Arts

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.