Modera Wealth Management LLC Sells 3,728 Shares of Electronic Arts Inc. $EA

Modera Wealth Management LLC reduced its stake in shares of Electronic Arts Inc. (NASDAQ:EA) by 28.4% during the first quarter, Holdings Channel reports. The firm owned 9,397 shares of the game software company’s stock after selling 3,728 shares during the quarter. Modera Wealth Management LLC’s holdings in Electronic Arts were worth $1,916,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the stock. Ascentis Independent Advisors bought a new stake in shares of Electronic Arts during the 1st quarter valued at about $27,000. MV Capital Management Inc. bought a new position in Electronic Arts in the fourth quarter worth about $28,000. Asset Planning Inc bought a new position in Electronic Arts in the first quarter worth about $32,000. Whipplewood Advisors LLC purchased a new stake in Electronic Arts in the first quarter worth about $32,000. Finally, Fideuram Asset Management Ireland dac purchased a new stake in Electronic Arts in the fourth quarter worth about $44,000. 90.23% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

EA has been the topic of a number of research analyst reports. Citigroup upped their target price on Electronic Arts from $202.00 to $204.00 and gave the stock a “neutral” rating in a report on Thursday, May 7th. Weiss Ratings upgraded Electronic Arts from a “hold (c)” rating to a “hold (c+)” rating in a research note on Monday, May 18th. Zacks Research lowered Electronic Arts from a “hold” rating to a “strong sell” rating in a research report on Monday, July 13th. Wall Street Zen raised Electronic Arts to a “hold” rating in a research note on Saturday, June 6th. Finally, Argus lowered Electronic Arts from a “buy” rating to a “hold” rating in a research report on Thursday, May 28th. Two research analysts have rated the stock with a Buy rating, sixteen have issued a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Electronic Arts presently has an average rating of “Hold” and an average target price of $196.64.

Insider Activity at Electronic Arts

In other Electronic Arts news, insider Vijayanthimala Singh sold 1,200 shares of the business’s stock in a transaction on Monday, June 15th. The stock was sold at an average price of $203.00, for a total value of $243,600.00. Following the sale, the insider directly owned 26,360 shares of the company’s stock, valued at approximately $5,351,080. The trade was a 4.35% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Andrew Wilson sold 5,066 shares of the stock in a transaction on Thursday, May 21st. The stock was sold at an average price of $201.66, for a total value of $1,021,609.56. Following the completion of the sale, the chief executive officer directly owned 85,974 shares in the company, valued at approximately $17,337,516.84. This represents a 5.56% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 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. Insiders have sold 31,206 shares of company stock worth $6,292,058 over the last quarter. 0.24% of the stock is currently owned by company insiders.

Electronic Arts Price Performance

Shares of NASDAQ EA opened at $208.90 on Monday. The company has a 50 day simple moving average of $203.38 and a two-hundred day simple moving average of $202.63. Electronic Arts Inc. has a fifty-two week low of $146.97 and a fifty-two week high of $209.19. The company has a market capitalization of $52.38 billion, a price-to-earnings ratio of 59.86, a P/E/G ratio of 2.34 and a beta of 0.64. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.05 and a current ratio of 1.05.

Electronic Arts Announces Dividend

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

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.