Harvest Fund Management Co. Ltd Boosts Stake in Electronic Arts Inc. (NASDAQ:EA)

Harvest Fund Management Co. Ltd boosted its stake in shares of Electronic Arts Inc. (NASDAQ:EA) by 51.0% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 12,170 shares of the game software company’s stock after purchasing an additional 4,110 shares during the period. Harvest Fund Management Co. Ltd’s holdings in Electronic Arts were worth $1,746,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of the stock. Ashton Thomas Securities LLC purchased a new stake in shares of Electronic Arts in the third quarter worth $25,000. Opal Wealth Advisors LLC purchased a new stake in Electronic Arts in the 2nd quarter worth $28,000. Family Firm Inc. bought a new stake in Electronic Arts during the second quarter valued at about $33,000. Reston Wealth Management LLC purchased a new position in shares of Electronic Arts in the third quarter valued at about $36,000. Finally, Gradient Investments LLC boosted its stake in shares of Electronic Arts by 592.1% in the second quarter. Gradient Investments LLC now owns 263 shares of the game software company’s stock worth $37,000 after acquiring an additional 225 shares during the period. Institutional investors own 90.23% of the company’s stock.

Insider Buying and Selling at Electronic Arts

In other news, EVP Jacob J. Schatz sold 1,500 shares of the firm’s stock in a transaction that occurred on Wednesday, August 28th. The shares were sold at an average price of $149.32, for a total transaction of $223,980.00. Following the transaction, the executive vice president now directly owns 27,860 shares of the company’s stock, valued at approximately $4,160,055.20. This trade represents a 5.11 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Andrew Wilson sold 2,500 shares of Electronic Arts stock in a transaction that occurred on Wednesday, September 25th. The shares were sold at an average price of $141.50, for a total transaction of $353,750.00. Following the sale, the chief executive officer now directly owns 54,247 shares of the company’s stock, valued at $7,675,950.50. This represents a 4.41 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 28,884 shares of company stock worth $4,404,435 over the last 90 days. Company insiders own 0.22% of the company’s stock.

Electronic Arts Trading Down 1.5 %

Shares of EA opened at $164.14 on Tuesday. The company’s fifty day simple moving average is $149.71 and its 200-day simple moving average is $144.23. The company has a market cap of $43.05 billion, a P/E ratio of 42.20, a P/E/G ratio of 2.18 and a beta of 0.78. The company has a current ratio of 1.43, a quick 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 $168.50.

Electronic Arts Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 18th. Shareholders of record on Wednesday, November 27th will be paid a $0.19 dividend. This represents a $0.76 annualized dividend and a yield of 0.46%. The ex-dividend date is Wednesday, November 27th. Electronic Arts’s payout ratio is currently 19.54%.

Analyst Ratings Changes

Several brokerages recently issued reports on EA. JPMorgan Chase & Co. decreased their target price on Electronic Arts from $155.00 to $150.00 and set a “neutral” rating on the stock in a research note on Wednesday, October 30th. BMO Capital Markets restated an “outperform” rating and set a $160.00 target price (up previously from $154.00) on shares of Electronic Arts in a research report on Wednesday, October 30th. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and issued a $160.00 price target on shares of Electronic Arts in a report on Wednesday, September 18th. UBS Group increased their price objective on shares of Electronic Arts from $155.00 to $160.00 and gave the company a “neutral” rating in a report on Wednesday, October 30th. Finally, The Goldman Sachs Group lifted their target price on Electronic Arts from $139.00 to $150.00 and gave the stock a “neutral” rating in a report on Wednesday, July 31st. Eight research analysts have rated the stock with a hold rating, twelve have given a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $165.37.

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.