OP Asset Management Ltd Acquires Shares of 42,628 Electronic Arts Inc. $EA

OP Asset Management Ltd bought a new position in shares of Electronic Arts Inc. (NASDAQ:EA) during the first quarter, according to the company in its most recent disclosure with the SEC. The firm bought 42,628 shares of the game software company’s stock, valued at approximately $8,691,000.

Several other hedge funds also recently made changes to their positions in the company. Brighton Jones LLC raised its position in shares of Electronic Arts by 9.4% during the 4th quarter. Brighton Jones LLC now owns 3,420 shares of the game software company’s stock valued at $500,000 after acquiring an additional 294 shares in the last quarter. Empowered Funds LLC boosted its holdings in Electronic Arts by 167.0% in the first quarter. Empowered Funds LLC now owns 19,306 shares of the game software company’s stock worth $2,790,000 after purchasing an additional 12,076 shares during the period. Geneos Wealth Management Inc. increased its stake in Electronic Arts by 150.8% during the first quarter. Geneos Wealth Management Inc. now owns 316 shares of the game software company’s stock valued at $46,000 after purchasing an additional 190 shares during the last quarter. Jump Financial LLC acquired a new stake in shares of Electronic Arts during the second quarter worth $2,323,000. Finally, NewEdge Advisors LLC raised its holdings in shares of Electronic Arts by 96.4% during the second quarter. NewEdge Advisors LLC now owns 3,067 shares of the game software company’s stock worth $490,000 after purchasing an additional 1,505 shares during the period. Institutional investors and hedge funds own 90.23% of the company’s stock.

Electronic Arts Stock Performance

EA stock opened at $204.73 on Friday. Electronic Arts Inc. has a 1 year low of $146.97 and a 1 year high of $205.22. The stock has a market capitalization of $51.34 billion, a price-to-earnings ratio of 58.66, a PEG ratio of 2.30 and a beta of 0.65. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.05 and a current ratio of 1.05. The stock’s fifty day moving average is $202.23 and its two-hundred day moving average is $202.40.

Electronic Arts Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, June 17th. Investors of record on Wednesday, May 27th were given a $0.19 dividend. The ex-dividend date was Wednesday, May 27th. This represents a $0.76 annualized dividend and a yield of 0.4%. Electronic Arts’s dividend payout ratio (DPR) is currently 21.78%.

Wall Street Analyst Weigh In

Several research firms have recently commented on EA. Wall Street Zen raised shares of Electronic Arts to a “hold” rating in a report on Saturday, June 6th. Weiss Ratings upgraded shares of Electronic Arts from a “hold (c)” rating to a “hold (c+)” rating in a research note on Monday, May 18th. Argus downgraded Electronic Arts from a “buy” rating to a “hold” rating in a research note on Thursday, May 28th. Finally, Citigroup upped their target price on Electronic Arts from $202.00 to $204.00 and gave the company a “neutral” rating in a report on Thursday, May 7th. Two research analysts have rated the stock with a Buy rating, seventeen have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $196.64.

Insider Activity

In other Electronic Arts news, CFO Stuart Canfield sold 1,500 shares of the business’s stock in a transaction dated Wednesday, May 20th. The shares were sold at an average price of $201.36, for a total transaction of $302,040.00. Following the completion of the transaction, the chief financial officer directly owned 25,991 shares of the company’s stock, valued at $5,233,547.76. The trade was a 5.46% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, EVP Jacob J. Schatz sold 5,000 shares of the company’s stock in a transaction dated Wednesday, May 20th. The stock was sold at an average price of $201.19, for a total transaction of $1,005,950.00. Following the completion of the transaction, the executive vice president owned 42,287 shares of the company’s stock, valued at approximately $8,507,721.53. This trade represents a 10.57% decrease in their position. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last 90 days, insiders sold 39,906 shares of company stock valued at $8,060,033. Company insiders own 0.24% of the company’s stock.

Electronic Arts Profile

Electronic Arts Inc (NASDAQ: EA) is a global interactive entertainment company headquartered in Redwood City, California. Founded in 1982 by Trip Hawkins, EA develops, publishes and distributes video games and related content for a variety of platforms, including consoles, personal computers and mobile devices. The company combines in-house development, partnerships and studio acquisitions to create and maintain a portfolio of entertainment properties and live-service experiences for players worldwide.

EA’s product lineup spans several well-known franchises and genres.