Redpoint Investment Management Pty Ltd sells 1,368 shares of Electronic Arts Inc. (NASDAQ: EA)
Redpoint Investment Management Pty Ltd reduced its position in shares of Electronic Arts Inc. (NASDAQ:EA – Get Rating) by 16.9% in the 1st quarter, reports HoldingsChannel.com. The company held 6,720 shares of the gaming software company after selling 1,368 shares during the quarter. Redpoint Investment Management Pty Ltd’s holdings in Electronic Arts were worth $850,000 at the end of the last quarter.
Other major investors have also recently changed their positions in the company. Equitec Proprietary Markets LLC acquired a new stake in Electronic Arts during the 4th quarter for a value of approximately $25,000. Industrial Alliance Investment Management Inc. acquired a new stake in Electronic Arts during Q4 worth approximately $28,000. Old North State Trust LLC increased its stake in Electronic Arts by 59.2% during the fourth quarter. Old North State Trust LLC now owns 242 shares of the gaming software company worth $32,000 after buying 90 more shares in the last quarter. Tyler Stone Wealth Management acquired a new position in Electronic Arts stock during Q4 worth approximately $33,000. Finally, Amplius Wealth Advisors LLC acquired a new position in Electronic Arts stock during Q4 worth approximately $34,000. 89.28% of the shares are held by hedge funds and other institutional investors.
In other news, insider Jacob J. Schatz sold 1,000 shares of the company in a trade that took place on Monday, April 18. The stock was sold at an average price of $122.34, for a total transaction of $122,340.00. Following the sale, the insider now owns 14,468 shares of the company, valued at approximately $1,770,015.12. The sale was disclosed in a filing with the SEC, which is available on the SEC’s website. Additionally, insider Vijayanthimala Singh sold 800 shares of the company in a trade that took place on Monday, June 13. The stock was sold at an average price of $131.26, for a total value of $105,008.00. Following the sale, the insider now owns 29,314 shares of the company, valued at approximately $3,847,755.64. The disclosure of this sale can be found here. In the past ninety days, insiders have sold 53,438 shares of the company valued at $6,968,072. Insiders own 0.65% of the shares of the company.
EA has been the subject of several analyst reports. Cowen lowered his target price on Electronic Arts from $180.00 to $158.00 in a Wednesday, May 11 research report. Robert W. Baird reduced his target price on Electronic Arts from $165.00 to $140.00 in a Wednesday, May 11 research report. Raymond James lowered his target price on Electronic Arts from $158.00 to $150.00 in a Wednesday, May 11 research report. Cowen lowered his target price on Electronic Arts from $180.00 to $158.00 in a Wednesday, May 11 research report. Finally, Goldman Sachs Group raised its target price on Electronic Arts from $125.00 to $133.00 and gave the stock a “neutral” rating in a Thursday, June 9 research report. Five equity research analysts gave the stock a hold rating and sixteen gave the company a buy rating. According to MarketBeat, Electronic Arts has an average rating of “Moderate Buy” and an average price target of $155.75.
NASDAQ: EA opened at $130.20 on Friday. Electronic Arts Inc. has a 12-month low of $109.24 and a 12-month high of $147.76. The company has a quick ratio of 1.18, a current ratio of 1.18 and a leverage ratio of 0.25. The company has a 50-day moving average price of $128.73 and a two-hundred-day moving average price of $129.15. The company has a market capitalization of $36.44 billion, a P/E ratio of 47.17, a price-to-earnings growth ratio of 2.09 and a beta of 0.81.
Electronic Arts (NASDAQ:EA – Get Rating) last released its quarterly results on Tuesday, May 10. The gaming software company reported earnings per share of $0.82 for the quarter, missing analyst consensus estimates of $1.04 per ($0.22). Electronic Arts achieved a return on equity of 18.99% and a net margin of 11.29%. The company posted revenue of $1.75 billion for the quarter, compared to analysts’ estimates of $1.77 billion. During the same period last year, the company achieved EPS of $0.72. The company’s revenue increased by 17.5% compared to the same quarter last year. As a group, analysts expect Electronic Arts Inc. to post earnings per share of 5.51 for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Wednesday, June 22. Shareholders of record on Wednesday, June 8 received a dividend of $0.19 per share. The ex-dividend date was Tuesday, June 7. This represents a dividend of $0.76 on an annualized basis and a yield of 0.58%. This is an increase from Electronic Arts’ previous quarterly dividend of $0.17. Electronic Arts’ dividend payout rate is 27.54%.
Electronic Arts Company Profile (Get an evaluation)
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 in various genres, such as sports, racing, first-person shooter, action, role-playing and simulation, mainly under Battlefield, The Sims, Apex Legends, Need for Speed and other licensed games. , including FIFA, Madden NFL, UFC and Star Wars brands.
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