NorthCrest Asset Manangement LLC Buys 1,579 Shares of Electronic Arts Inc. (NASDAQ:EA)

NorthCrest Asset Manangement LLC grew its stake in shares of Electronic Arts Inc. (NASDAQ:EA) by 5.0% in the second quarter, Holdings Channel reports. The institutional investor owned 32,967 shares of the game software company’s stock after purchasing an additional 1,579 shares during the period. NorthCrest Asset Manangement LLC’s holdings in Electronic Arts were worth $4,593,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also modified their holdings of the company. BI Asset Management Fondsmaeglerselskab A S grew its stake in shares of Electronic Arts by 82.6% in the 1st quarter. BI Asset Management Fondsmaeglerselskab A S now owns 25,074 shares of the game software company’s stock valued at $3,327,000 after purchasing an additional 11,343 shares during the period. FORA Capital LLC grew its stake in Electronic Arts by 209.7% during the first quarter. FORA Capital LLC now owns 45,985 shares of the game software company’s stock worth $6,101,000 after buying an additional 31,136 shares during the last quarter. Duality Advisers LP bought a new position in shares of Electronic Arts in the first quarter valued at approximately $1,711,000. Eaton Financial Holdings Company LLC bought a new position in shares of Electronic Arts in the fourth quarter valued at approximately $1,259,000. Finally, Teacher Retirement System of Texas boosted its holdings in shares of Electronic Arts by 6.1% in the 4th quarter. Teacher Retirement System of Texas now owns 181,757 shares of the game software company’s stock worth $24,866,000 after acquiring an additional 10,405 shares in the last quarter. 90.23% of the stock is currently owned by institutional investors.

Electronic Arts Price Performance

EA traded down $1.02 on Wednesday, reaching $145.88. The stock had a trading volume of 148,620 shares, compared to its average volume of 2,156,166. The firm has a 50-day moving average of $141.95 and a 200-day moving average of $136.34. Electronic Arts Inc. has a fifty-two week low of $117.47 and a fifty-two week high of $153.51. The company has a market capitalization of $38.77 billion, a price-to-earnings ratio of 31.39, a price-to-earnings-growth ratio of 2.28 and a beta of 0.79. The company has a current ratio of 1.45, a quick ratio of 1.37 and a debt-to-equity ratio of 0.25.

Electronic Arts Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 18th. Stockholders of record on Wednesday, August 28th will be given a $0.19 dividend. The ex-dividend date of this dividend is Wednesday, August 28th. This represents a $0.76 dividend on an annualized basis and a dividend yield of 0.52%. Electronic Arts’s dividend payout ratio (DPR) is currently 16.24%.

Analysts Set New Price Targets

A number of equities analysts have commented on EA shares. BMO Capital Markets reissued an “outperform” rating and issued a $154.00 price objective on shares of Electronic Arts in a research note on Tuesday, July 30th. Raymond James upped their price objective on Electronic Arts from $155.00 to $170.00 and gave the stock an “outperform” rating in a report on Wednesday, July 31st. Robert W. Baird lifted their target price on Electronic Arts from $150.00 to $170.00 and gave the company an “outperform” rating in a research note on Wednesday, July 31st. TD Cowen upped their price target on Electronic Arts from $163.00 to $183.00 and gave the company a “buy” rating in a research note on Wednesday, July 31st. Finally, Deutsche Bank Aktiengesellschaft decreased their price objective on Electronic Arts from $153.00 to $150.00 and set a “hold” rating for the company in a research note on Thursday, May 9th. Nine investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Electronic Arts presently has an average rating of “Moderate Buy” and an average target price of $160.16.

Insider Activity

In related news, CEO Andrew Wilson sold 4,639 shares of the company’s stock in a transaction dated Wednesday, May 22nd. The stock was sold at an average price of $134.15, for a total transaction of $622,321.85. Following the sale, the chief executive officer now owns 66,747 shares in the company, valued at approximately $8,954,110.05. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other Electronic Arts news, Director Luis A. Ubinas sold 2,126 shares of the company’s stock in a transaction on Friday, August 2nd. The stock was sold at an average price of $146.77, for a total value of $312,033.02. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Andrew Wilson sold 4,639 shares of the business’s stock in a transaction dated Wednesday, May 22nd. The stock was sold at an average price of $134.15, for a total transaction of $622,321.85. Following the completion of the transaction, the chief executive officer now directly owns 66,747 shares in the company, valued at $8,954,110.05. The disclosure for this sale can be found here. In the last three months, insiders have sold 24,365 shares of company stock valued at $3,382,352. 0.22% of the stock is currently owned by insiders.

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.