Electronic Arts (NASDAQ:EA) Reaches New 1-Year High – Here’s What Happened

Electronic Arts Inc. (NASDAQ:EA) hit a new 52-week high on Monday . The company traded as high as $209.27 and last traded at $209.04, with a volume of 112446 shares traded. The stock had previously closed at $208.90.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on the company. Wall Street Zen raised Electronic Arts to a “hold” rating in a report on Saturday, June 6th. Weiss Ratings raised Electronic Arts from a “hold (c)” rating to a “hold (c+)” rating in a report on Monday, May 18th. Zacks Research downgraded shares of Electronic Arts from a “hold” rating to a “strong sell” rating in a report on Monday, July 13th. Argus lowered shares of Electronic Arts from a “buy” rating to a “hold” rating in a research report on Thursday, May 28th. Finally, Citigroup upped their price objective on shares of Electronic Arts from $202.00 to $204.00 and gave the company a “neutral” rating in a report on Thursday, May 7th. Two research analysts have rated the stock with a Buy rating, sixteen have given a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $196.64.

Electronic Arts Stock Performance

The company has a market capitalization of $52.42 billion, a PE ratio of 59.90, a PEG ratio of 2.35 and a beta of 0.64. The firm has a 50-day moving average of $203.74 and a two-hundred day moving average of $202.69. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 0.22.

Electronic Arts Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, June 17th. Investors of record on Wednesday, May 27th were paid a $0.19 dividend. This represents a $0.76 annualized dividend and a dividend yield of 0.4%. The ex-dividend date was Wednesday, May 27th. Electronic Arts’s payout ratio is currently 21.78%.

Insider Activity at Electronic Arts

In other news, CEO Andrew Wilson sold 5,000 shares of the stock in a transaction dated Monday, June 15th. The shares were sold at an average price of $203.12, for a total transaction of $1,015,600.00. Following the sale, the chief executive officer directly owned 80,974 shares of the company’s stock, valued at $16,447,438.88. This represents a 5.82% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Jacob J. Schatz sold 5,000 shares of the firm’s stock in a transaction dated Wednesday, May 20th. The shares were sold at an average price of $201.19, for a total value of $1,005,950.00. Following the sale, the executive vice president owned 42,287 shares in the company, valued at $8,507,721.53. This trade represents a 10.57% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold 31,206 shares of company stock valued at $6,292,058 in the last quarter. 0.24% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Electronic Arts

Hedge funds have recently bought and sold shares of the business. Ascentis Independent Advisors purchased a new stake in shares of Electronic Arts in the first quarter valued at approximately $27,000. Torren Management LLC lifted its position in shares of Electronic Arts by 235.0% during the 2nd quarter. Torren Management LLC now owns 134 shares of the game software company’s stock valued at $27,000 after buying an additional 94 shares in the last quarter. MV Capital Management Inc. purchased a new stake in shares of Electronic Arts during the fourth quarter worth about $28,000. Asset Planning Inc purchased a new position in shares of Electronic Arts in the first quarter valued at approximately $32,000. Finally, Whipplewood Advisors LLC acquired a new stake in shares of Electronic Arts in the first quarter worth approximately $32,000. Hedge funds and other institutional investors own 90.23% of the company’s stock.

Electronic Arts Company Profile

Electronic Arts Inc (NASDAQ: EA) is a global interactive entertainment company headquartered in Redwood City, California. Founded in 1982 by Trip Hawkins, EA develops, publishes and distributes video games and related content for a variety of platforms, including consoles, personal computers and mobile devices. The company combines in-house development, partnerships and studio acquisitions to create and maintain a portfolio of entertainment properties and live-service experiences for players worldwide.

EA’s product lineup spans several well-known franchises and genres.