Martingale Asset Management L P Cuts Holdings in Electronic Arts Inc. (NASDAQ:EA)

Martingale Asset Management L P trimmed its position in shares of Electronic Arts Inc. (NASDAQ:EA) by 13.7% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 213,441 shares of the game software company’s stock after selling 33,873 shares during the quarter. Martingale Asset Management L P owned 0.08% of Electronic Arts worth $30,616,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Ashton Thomas Securities LLC bought a new position in shares of Electronic Arts during the 3rd quarter valued at $25,000. Opal Wealth Advisors LLC bought a new position in Electronic Arts in the 2nd quarter worth $28,000. Family Firm Inc. bought a new position in Electronic Arts in the 2nd quarter worth $33,000. Reston Wealth Management LLC bought a new position in Electronic Arts in the 3rd quarter worth $36,000. Finally, Gradient Investments LLC raised its holdings in Electronic Arts by 592.1% in the 2nd quarter. Gradient Investments LLC now owns 263 shares of the game software company’s stock worth $37,000 after purchasing an additional 225 shares during the period. 90.23% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on EA shares. Wedbush reissued an “outperform” rating and set a $170.00 price target on shares of Electronic Arts in a report on Friday, October 25th. Roth Mkm raised their price target on Electronic Arts from $154.00 to $158.00 and gave the company a “neutral” rating in a report on Wednesday, October 30th. StockNews.com raised Electronic Arts from a “buy” rating to a “strong-buy” rating in a report on Thursday, October 31st. UBS Group raised their price objective on Electronic Arts from $155.00 to $160.00 and gave the company a “neutral” rating in a research report on Wednesday, October 30th. Finally, Robert W. Baird raised their price objective on Electronic Arts from $170.00 to $175.00 and gave the company an “outperform” rating in a research report on Wednesday, October 30th. Eight equities research 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 MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $165.37.

Insider Activity at Electronic Arts

In other news, 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 of the company’s stock, valued at $3,863,848.80. This represents a 5.38 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Andrew Wilson sold 5,000 shares of the stock in a transaction dated Wednesday, November 20th. The stock was sold at an average price of $166.47, for a total transaction of $832,350.00. Following the sale, the chief executive officer now directly owns 52,615 shares in the company, valued at approximately $8,758,819.05. The trade was a 8.68 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 20,000 shares of company stock valued at $3,073,520 in the last ninety days. Company insiders own 0.22% of the company’s stock.

Electronic Arts Stock Performance

Shares of EA opened at $163.10 on Friday. Electronic Arts Inc. has a 12 month low of $124.92 and a 12 month high of $168.50. The stock has a fifty day moving average price of $150.61 and a 200-day moving average price of $144.63. The company has a current ratio of 1.43, a quick ratio of 1.43 and a debt-to-equity ratio of 0.25. The firm has a market cap of $42.78 billion, a PE ratio of 41.93, a P/E/G ratio of 2.13 and a beta of 0.78.

Electronic Arts Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 18th. Investors of record on Wednesday, November 27th will be given a $0.19 dividend. This represents a $0.76 annualized dividend and a dividend yield of 0.47%. The ex-dividend date of this dividend is Wednesday, November 27th. Electronic Arts’s payout ratio is 19.54%.

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.