Allspring Global Investments Holdings LLC Sells 166,758 Shares of Electronic Arts Inc. (NASDAQ:EA)

Allspring Global Investments Holdings LLC lowered its stake in shares of Electronic Arts Inc. (NASDAQ:EA) by 39.2% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 258,465 shares of the game software company’s stock after selling 166,758 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Electronic Arts were worth $34,291,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently modified their holdings of the stock. Claro Advisors LLC boosted its stake in Electronic Arts by 5.6% during the first quarter. Claro Advisors LLC now owns 1,881 shares of the game software company’s stock valued at $250,000 after buying an additional 100 shares during the last quarter. Diversified Trust Co boosted its position in shares of Electronic Arts by 90.0% during the 1st quarter. Diversified Trust Co now owns 15,150 shares of the game software company’s stock valued at $2,010,000 after acquiring an additional 7,176 shares during the last quarter. Mirador Capital Partners LP grew its holdings in shares of Electronic Arts by 15.4% in the first quarter. Mirador Capital Partners LP now owns 3,766 shares of the game software company’s stock valued at $500,000 after purchasing an additional 502 shares in the last quarter. KRS Capital Management LLC increased its position in Electronic Arts by 17.1% in the first quarter. KRS Capital Management LLC now owns 1,880 shares of the game software company’s stock worth $249,000 after purchasing an additional 275 shares during the last quarter. Finally, Janiczek Wealth Management LLC raised its stake in Electronic Arts by 15.2% during the first quarter. Janiczek Wealth Management LLC now owns 895 shares of the game software company’s stock valued at $119,000 after purchasing an additional 118 shares in the last quarter. Hedge funds and other institutional investors own 90.23% of the company’s stock.

Electronic Arts Price Performance

Electronic Arts stock opened at $138.67 on Friday. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.37 and a quick ratio of 1.37. The stock has a market cap of $36.85 billion, a price-to-earnings ratio of 29.63, a price-to-earnings-growth ratio of 2.20 and a beta of 0.79. The firm has a 50-day moving average of $133.59 and a two-hundred day moving average of $134.88. Electronic Arts Inc. has a 1 year low of $117.47 and a 1 year high of $144.53.

Electronic Arts (NASDAQ:EA) last announced its quarterly earnings results on Tuesday, May 7th. The game software company reported $0.92 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.09 by ($0.17). The firm had revenue of $1.67 billion during the quarter, compared to analysts’ expectations of $1.78 billion. Electronic Arts had a net margin of 16.83% and a return on equity of 18.81%. On average, research analysts forecast that Electronic Arts Inc. will post 5.72 earnings per share for the current year.

Electronic Arts Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, June 19th. Stockholders of record on Wednesday, May 29th were paid a dividend of $0.19 per share. The ex-dividend date was Wednesday, May 29th. This represents a $0.76 annualized dividend and a dividend yield of 0.55%. Electronic Arts’s dividend payout ratio is currently 16.24%.

Insider Activity at Electronic Arts

In other news, CEO Andrew Wilson sold 4,639 shares of the company’s stock in a transaction that occurred on Wednesday, May 22nd. The shares were sold at an average price of $134.15, for a total value of $622,321.85. Following the completion of the sale, the chief executive officer now owns 66,747 shares of the company’s stock, valued at approximately $8,954,110.05. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, insider Vijayanthimala Singh sold 800 shares of the firm’s stock in a transaction dated Wednesday, May 1st. The stock was sold at an average price of $126.64, for a total transaction of $101,312.00. Following the sale, the insider now owns 26,283 shares of the company’s stock, valued at $3,328,479.12. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Andrew Wilson sold 4,639 shares of the business’s stock in a transaction dated Wednesday, May 22nd. The stock was sold at an average price of $134.15, for a total transaction of $622,321.85. Following the completion of the transaction, the chief executive officer now owns 66,747 shares of the company’s stock, valued at $8,954,110.05. The disclosure for this sale can be found here. Insiders sold 23,039 shares of company stock worth $3,065,356 over the last three months. 0.22% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the stock. Robert W. Baird reduced their target price on shares of Electronic Arts from $160.00 to $150.00 and set an “outperform” rating on the stock in a report on Wednesday, May 8th. Deutsche Bank Aktiengesellschaft decreased their price objective on Electronic Arts from $153.00 to $150.00 and set a “hold” rating on the stock in a research report on Thursday, May 9th. Oppenheimer reiterated an “outperform” rating and issued a $150.00 target price on shares of Electronic Arts in a report on Friday, June 21st. Stifel Nicolaus increased their price target on Electronic Arts from $150.00 to $163.00 and gave the company a “buy” rating in a report on Monday, June 24th. Finally, BMO Capital Markets dropped their price objective on shares of Electronic Arts from $160.00 to $154.00 and set an “outperform” rating for the company in a research note on Thursday, May 9th. Eight research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat.com, Electronic Arts currently has a consensus rating of “Moderate Buy” and a consensus price target of $147.50.

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.