Seven Eight Capital LP Sells 2,077 Shares of Electronic Arts Inc. (NASDAQ:EA)

Seven Eight Capital LP cut its stake in shares of Electronic Arts Inc. (NASDAQ:EA) by 14.3% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 12,481 shares of the game software company’s stock after selling 2,077 shares during the quarter. Seven Eight Capital LP’s holdings in Electronic Arts were worth $1,739,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also bought and sold shares of EA. North Star Investment Management Corp. raised its holdings in shares of Electronic Arts by 333.3% during the 1st quarter. North Star Investment Management Corp. now owns 195 shares of the game software company’s stock valued at $26,000 after buying an additional 150 shares in the last quarter. Cape Investment Advisory Inc. grew its position in Electronic Arts by 102.0% during the fourth quarter. Cape Investment Advisory Inc. now owns 200 shares of the game software company’s stock valued at $27,000 after acquiring an additional 101 shares during the last quarter. Redmont Wealth Advisors LLC purchased a new position in shares of Electronic Arts during the first quarter worth approximately $27,000. Opal Wealth Advisors LLC bought a new stake in shares of Electronic Arts in the 2nd quarter worth approximately $28,000. Finally, YHB Investment Advisors Inc. purchased a new stake in shares of Electronic Arts in the 1st quarter valued at $30,000. Hedge funds and other institutional investors own 90.23% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the stock. Raymond James lifted their target price on shares of Electronic Arts from $155.00 to $170.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 31st. The Goldman Sachs Group boosted their target price on Electronic Arts from $139.00 to $150.00 and gave the company a “neutral” rating in a research note on Wednesday, July 31st. BMO Capital Markets restated an “outperform” rating and set a $154.00 price target on shares of Electronic Arts in a research report on Tuesday, July 30th. Bank of America lifted their price target on Electronic Arts from $150.00 to $170.00 and gave the stock a “buy” rating in a research note on Wednesday, July 31st. Finally, Wedbush increased their price objective on Electronic Arts from $162.00 to $170.00 and gave the company an “outperform” rating in a research note on Wednesday, July 31st. Nine investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $161.83.

Insider Transactions at Electronic Arts

In other Electronic Arts news, EVP Jacob J. Schatz sold 1,500 shares of the firm’s stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $146.58, for a total transaction of $219,870.00. Following the completion of the transaction, the executive vice president now owns 26,360 shares of the company’s stock, valued at $3,863,848.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, insider Vijayanthimala Singh sold 7,384 shares of Electronic Arts stock in a transaction dated Wednesday, August 28th. The stock was sold at an average price of $149.91, for a total value of $1,106,935.44. Following the completion of the transaction, the insider now owns 31,190 shares of the company’s stock, valued at approximately $4,675,692.90. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP Jacob J. Schatz sold 1,500 shares of the stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $146.58, for a total transaction of $219,870.00. Following the sale, the executive vice president now directly owns 26,360 shares in the company, valued at $3,863,848.80. The disclosure for this sale can be found here. Insiders have sold 28,570 shares of company stock valued at $4,183,508 in the last three months. 0.22% of the stock is currently owned by company insiders.

Electronic Arts Price Performance

EA stock opened at $140.45 on Thursday. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.45 and a quick ratio of 1.45. Electronic Arts Inc. has a 1 year low of $117.47 and a 1 year high of $153.51. The firm has a 50-day moving average of $146.44 and a 200 day moving average of $137.66. The company has a market cap of $37.32 billion, a P/E ratio of 30.01, a PEG ratio of 1.97 and a beta of 0.79.

Electronic Arts (NASDAQ:EA) last announced its earnings results on Tuesday, July 30th. The game software company reported $0.09 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.03 by $0.06. Electronic Arts had a return on equity of 16.34% and a net margin of 15.77%. The firm had revenue of $1.26 billion during the quarter, compared to analyst estimates of $1.21 billion. On average, sell-side analysts forecast that Electronic Arts Inc. will post 5.89 EPS for the current year.

Electronic Arts Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, September 18th. Stockholders of record on Wednesday, August 28th were issued a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a dividend yield of 0.54%. The ex-dividend date of this dividend was Wednesday, August 28th. Electronic Arts’s dividend payout ratio (DPR) is presently 16.24%.

Electronic Arts Profile

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.