Summit Global Investments Has $984,000 Holdings in Electronic Arts Inc. (NASDAQ:EA)

Summit Global Investments lessened its stake in Electronic Arts Inc. (NASDAQ:EA) by 22.8% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 6,728 shares of the game software company’s stock after selling 1,985 shares during the quarter. Summit Global Investments’ holdings in Electronic Arts were worth $984,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in the stock. Teacher Retirement System of Texas lifted its holdings in Electronic Arts by 165.7% during the 4th quarter. Teacher Retirement System of Texas now owns 417,817 shares of the game software company’s stock valued at $61,127,000 after purchasing an additional 260,567 shares during the last quarter. Royal London Asset Management Ltd. lifted its holdings in Electronic Arts by 6.1% during the 4th quarter. Royal London Asset Management Ltd. now owns 116,824 shares of the game software company’s stock valued at $17,091,000 after purchasing an additional 6,706 shares during the last quarter. Harvest Fund Management Co. Ltd lifted its holdings in Electronic Arts by 63.7% during the 4th quarter. Harvest Fund Management Co. Ltd now owns 19,923 shares of the game software company’s stock valued at $2,918,000 after purchasing an additional 7,753 shares during the last quarter. Vinva Investment Management Ltd lifted its holdings in Electronic Arts by 41.1% during the 4th quarter. Vinva Investment Management Ltd now owns 151,313 shares of the game software company’s stock valued at $22,173,000 after purchasing an additional 44,056 shares during the last quarter. Finally, West Tower Group LLC acquired a new stake in Electronic Arts during the 4th quarter valued at $585,000. Institutional investors and hedge funds own 90.23% of the company’s stock.

Insider Buying and Selling

In other Electronic Arts news, CEO Andrew Wilson sold 5,000 shares of the business’s stock in a transaction that occurred on Thursday, March 20th. The stock was sold at an average price of $142.50, for a total value of $712,500.00. Following the transaction, the chief executive officer now directly owns 32,615 shares of the company’s stock, valued at approximately $4,647,637.50. The trade was a 13.29 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Vijayanthimala Singh sold 1,000 shares of the business’s stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $147.57, for a total value of $147,570.00. Following the completion of the transaction, the insider now directly owns 29,216 shares in the company, valued at approximately $4,311,405.12. This trade represents a 3.31 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 23,000 shares of company stock valued at $3,166,740 over the last ninety days. 0.22% of the stock is owned by company insiders.

Electronic Arts Stock Performance

NASDAQ:EA opened at $144.30 on Friday. The stock has a market cap of $37.61 billion, a P/E ratio of 36.72, a price-to-earnings-growth ratio of 3.58 and a beta of 0.78. The company has a current ratio of 1.38, a quick ratio of 1.38 and a debt-to-equity ratio of 0.25. The stock’s 50-day moving average is $132.76 and its 200-day moving average is $144.64. Electronic Arts Inc. has a 1-year low of $115.21 and a 1-year high of $168.50.

Electronic Arts (NASDAQ:EA) last released its quarterly earnings results on Tuesday, February 4th. The game software company reported $2.34 earnings per share for the quarter, missing the consensus estimate of $3.41 by ($1.07). Electronic Arts had a return on equity of 17.80% and a net margin of 14.28%. Equities research analysts anticipate that Electronic Arts Inc. will post 4.71 earnings per share for the current year.

Electronic Arts Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, March 19th. Investors of record on Wednesday, February 26th were paid a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a dividend yield of 0.53%. The ex-dividend date was Wednesday, February 26th. Electronic Arts’s dividend payout ratio is currently 19.34%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on EA shares. Raymond James downgraded Electronic Arts from an “outperform” rating to a “market perform” rating in a report on Thursday, January 23rd. BNP Paribas downgraded Electronic Arts from an “outperform” rating to a “neutral” rating and set a $125.00 target price for the company. in a report on Monday, January 27th. Oppenheimer decreased their price target on Electronic Arts from $170.00 to $165.00 and set an “outperform” rating on the stock in a research report on Tuesday, January 21st. DA Davidson started coverage on Electronic Arts in a research report on Wednesday, February 19th. They issued a “neutral” rating and a $140.00 price target on the stock. Finally, Benchmark decreased their price target on Electronic Arts from $163.00 to $140.00 and set a “buy” rating on the stock in a research report on Wednesday, February 5th. Thirteen investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $154.78.

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.