Teacher Retirement System of Texas Sells 346,971 Shares of Electronic Arts Inc. (NASDAQ:EA)

Teacher Retirement System of Texas trimmed its position in shares of Electronic Arts Inc. (NASDAQ:EA) by 83.0% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 70,846 shares of the game software company’s stock after selling 346,971 shares during the period. Teacher Retirement System of Texas’ holdings in Electronic Arts were worth $10,239,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of EA. Brighton Jones LLC lifted its position in Electronic Arts by 9.4% in the fourth quarter. Brighton Jones LLC now owns 3,420 shares of the game software company’s stock valued at $500,000 after purchasing an additional 294 shares during the last quarter. Jones Financial Companies Lllp grew its stake in shares of Electronic Arts by 155.9% in the fourth quarter. Jones Financial Companies Lllp now owns 2,741 shares of the game software company’s stock worth $401,000 after acquiring an additional 1,670 shares during the last quarter. SBI Securities Co. Ltd. bought a new position in shares of Electronic Arts during the fourth quarter valued at $41,000. Steward Partners Investment Advisory LLC increased its holdings in shares of Electronic Arts by 5.0% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 1,944 shares of the game software company’s stock valued at $284,000 after acquiring an additional 92 shares in the last quarter. Finally, Victory Capital Management Inc. boosted its position in shares of Electronic Arts by 6.3% during the fourth quarter. Victory Capital Management Inc. now owns 245,911 shares of the game software company’s stock valued at $35,977,000 after buying an additional 14,480 shares during the last quarter. 90.23% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms recently commented on EA. Citigroup reaffirmed a “neutral” rating and set a $153.00 price objective (up from $139.00) on shares of Electronic Arts in a research report on Thursday, May 29th. Moffett Nathanson reaffirmed a “neutral” rating and set a $163.00 price objective on shares of Electronic Arts in a research report on Wednesday, May 7th. Hsbc Global Res raised Electronic Arts from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, May 7th. HSBC raised Electronic Arts from a “hold” rating to a “buy” rating and set a $190.00 target price on the stock in a research note on Wednesday, May 7th. Finally, Benchmark lifted their target price on Electronic Arts from $160.00 to $180.00 and gave the company a “buy” rating in a research note on Wednesday, May 7th. Fourteen equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat, Electronic Arts has an average rating of “Moderate Buy” and an average price target of $162.80.

Electronic Arts Price Performance

EA opened at $155.35 on Friday. The business has a fifty day moving average of $150.64 and a 200 day moving average of $142.38. Electronic Arts Inc. has a 52-week low of $115.21 and a 52-week high of $168.50. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.23. The stock has a market cap of $39.03 billion, a P/E ratio of 36.64, a PEG ratio of 2.11 and a beta of 0.73.

Electronic Arts Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, June 18th. Investors of record on Wednesday, May 28th were issued a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a yield of 0.49%. The ex-dividend date was Wednesday, May 28th. Electronic Arts’s payout ratio is currently 17.92%.

Insiders Place Their Bets

In related news, EVP Jacob J. Schatz sold 1,500 shares of the business’s stock in a transaction on Tuesday, April 15th. The stock was sold at an average price of $145.65, for a total transaction of $218,475.00. Following the completion of the transaction, the executive vice president owned 19,033 shares in the company, valued at $2,772,156.45. The trade was a 7.31% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Andrew Wilson sold 6,563 shares of the company’s stock in a transaction on Tuesday, May 20th. The stock was sold at an average price of $151.18, for a total value of $992,194.34. Following the completion of the sale, the chief executive officer owned 70,059 shares of the company’s stock, valued at $10,591,519.62. This represents a 8.57% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 31,729 shares of company stock worth $4,784,679 in the last 90 days. 0.24% of the stock is owned by insiders.

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.