Electronic Arts Inc. (NASDAQ:EA) Shares Sold by SouthState Corp

SouthState Corp trimmed its position in shares of Electronic Arts Inc. (NASDAQ:EA) by 19.1% during the 3rd quarter, HoldingsChannel reports. The firm owned 3,551 shares of the game software company’s stock after selling 836 shares during the quarter. SouthState Corp’s holdings in Electronic Arts were worth $509,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Huntington National Bank grew its position 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 worth $36,993,000 after purchasing an additional 234,098 shares in the last quarter. Park Avenue Securities LLC boosted its stake in shares of Electronic Arts by 34.9% during the 2nd quarter. Park Avenue Securities LLC now owns 14,227 shares of the game software company’s stock valued at $1,982,000 after buying an additional 3,681 shares during the period. Greenwood Capital Associates LLC acquired a new stake in shares of Electronic Arts during the 3rd quarter valued at $5,597,000. Bessemer Group Inc. boosted its stake in shares of Electronic Arts by 97.5% during the 1st quarter. Bessemer Group Inc. now owns 19,751 shares of the game software company’s stock valued at $2,620,000 after buying an additional 9,753 shares during the period. Finally, Chesapeake Capital Corp IL acquired a new stake in shares of Electronic Arts during the 3rd quarter valued at $950,000. 90.23% of the stock is currently owned by hedge funds and other institutional investors.

Electronic Arts Stock Performance

NASDAQ EA opened at $166.13 on Wednesday. The stock has a market cap of $43.57 billion, a P/E ratio of 42.71, a PEG ratio of 2.11 and a beta of 0.78. The company has a quick ratio of 1.43, a current ratio of 1.43 and a debt-to-equity ratio of 0.25. Electronic Arts Inc. has a twelve month low of $124.92 and a twelve month high of $166.40. The company’s 50-day simple moving average is $148.01 and its 200 day simple moving average is $143.16.

Electronic Arts Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, December 18th. Stockholders of record on Wednesday, November 27th will be issued a $0.19 dividend. The ex-dividend date is Wednesday, November 27th. This represents a $0.76 dividend on an annualized basis and a dividend yield of 0.46%. Electronic Arts’s payout ratio is presently 19.54%.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the stock. Bank of America lifted their target price on shares of Electronic Arts from $150.00 to $170.00 and gave the company a “buy” rating in a research note on Wednesday, July 31st. Wedbush reissued an “outperform” rating and set a $170.00 target price on shares of Electronic Arts in a research note on Friday, October 25th. DZ Bank raised shares of Electronic Arts from a “hold” rating to a “buy” rating and lifted their target price for the company from $135.00 to $177.00 in a research note on Thursday, October 31st. Benchmark reaffirmed a “buy” rating and issued a $163.00 price objective on shares of Electronic Arts in a research note on Wednesday, October 30th. Finally, BMO Capital Markets reaffirmed an “outperform” rating and issued a $160.00 price objective (up previously from $154.00) on shares of Electronic Arts in a research note on Wednesday, October 30th. Eight analysts have rated the stock with a hold rating, twelve have given a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, Electronic Arts currently has a consensus rating of “Moderate Buy” and a consensus price target of $165.37.

Insiders Place Their Bets

In other Electronic Arts news, CEO Andrew Wilson sold 2,500 shares of the stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $148.88, for a total value of $372,200.00. Following the transaction, the chief executive officer now owns 56,747 shares of the company’s stock, valued at approximately $8,448,493.36. This represents a 4.22 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Vijayanthimala Singh sold 7,384 shares of the firm’s 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 sale, the insider now directly owns 31,190 shares in the company, valued at approximately $4,675,692.90. This represents a 19.14 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 26,384 shares of company stock worth $3,944,285 over the last three months. 0.22% of the stock is currently owned by corporate insiders.

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.