Electronic Arts (NASDAQ:EA) Hits New 52-Week Low on Insider Selling

Shares of Electronic Arts Inc. (NASDAQ:EA) hit a new 52-week low during trading on Thursday after an insider sold shares in the company. The company traded as low as $117.56 and last traded at $119.27, with a volume of 844228 shares changing hands. The stock had previously closed at $142.35.

Specifically, CEO Andrew Wilson sold 5,000 shares of the company’s stock in a transaction on Tuesday, January 21st. The stock was sold at an average price of $142.68, for a total transaction of $713,400.00. Following the transaction, the chief executive officer now owns 42,615 shares of the company’s stock, valued at $6,080,308.20. This represents a 10.50 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

Wall Street Analyst Weigh In

EA has been the subject of several analyst reports. Oppenheimer cut their target price on Electronic Arts from $170.00 to $165.00 and set an “outperform” rating for the company in a research note on Tuesday. DZ Bank upgraded shares of Electronic Arts from a “hold” rating to a “buy” rating and raised their price objective for the company from $135.00 to $177.00 in a research report on Thursday, October 31st. Roth Mkm decreased their target price on shares of Electronic Arts from $158.00 to $134.00 and set a “neutral” rating on the stock in a report on Thursday. BMO Capital Markets downgraded shares of Electronic Arts from an “outperform” rating to a “market perform” rating and cut their price target for the company from $160.00 to $145.00 in a report on Thursday. Finally, Bank of America cut shares of Electronic Arts from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $170.00 to $130.00 in a report on Thursday. Eleven investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat, Electronic Arts presently has a consensus rating of “Moderate Buy” and an average price target of $159.79.

Electronic Arts Price Performance

The stock has a market cap of $30.57 billion, a P/E ratio of 29.96, a price-to-earnings-growth ratio of 1.87 and a beta of 0.80. The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.43 and a current ratio of 1.43. The firm has a 50-day moving average price of $152.43 and a 200-day moving average price of $148.83.

Electronic Arts Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, December 18th. Shareholders of record on Wednesday, November 27th were paid a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a dividend yield of 0.65%. The ex-dividend date was Wednesday, November 27th. Electronic Arts’s dividend payout ratio is 19.54%.

Institutional Trading of Electronic Arts

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Robeco Institutional Asset Management B.V. raised its holdings in Electronic Arts by 51.5% in the fourth quarter. Robeco Institutional Asset Management B.V. now owns 1,099,746 shares of the game software company’s stock worth $160,893,000 after buying an additional 373,730 shares during the last quarter. abrdn plc increased its position in shares of Electronic Arts by 59.2% during the third quarter. abrdn plc now owns 858,840 shares of the game software company’s stock valued at $123,484,000 after acquiring an additional 319,335 shares in the last quarter. Caisse DE Depot ET Placement DU Quebec raised its holdings in Electronic Arts by 8,503.9% in the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 318,085 shares of the game software company’s stock worth $45,626,000 after acquiring an additional 314,388 shares during the last quarter. Los Angeles Capital Management LLC bought a new position in Electronic Arts in the 3rd quarter valued at approximately $40,154,000. Finally, Huntington National Bank boosted its stake in Electronic Arts by 983.4% during the 3rd quarter. Huntington National Bank now owns 257,902 shares of the game software company’s stock valued at $36,993,000 after purchasing an additional 234,098 shares during the last quarter. Hedge funds and other institutional investors own 90.23% of the company’s stock.

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.