Telemark Asset Management LLC Buys Shares of 50,000 Electronic Arts Inc. (NASDAQ:EA)

Telemark Asset Management LLC purchased a new position in shares of Electronic Arts Inc. (NASDAQ:EA) in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 50,000 shares of the game software company’s stock, valued at approximately $7,172,000.

A number of other institutional investors have also modified their holdings of EA. Ashton Thomas Securities LLC purchased a new stake in shares of Electronic Arts in the 3rd quarter valued at approximately $25,000. Opal Wealth Advisors LLC acquired a new position in shares of Electronic Arts during the 2nd quarter worth about $28,000. Family Firm Inc. purchased a new position in shares of Electronic Arts in the 2nd quarter valued at about $33,000. New Covenant Trust Company N.A. acquired a new stake in shares of Electronic Arts during the 1st quarter worth about $35,000. Finally, Reston Wealth Management LLC acquired a new position in Electronic Arts in the third quarter valued at approximately $36,000. 90.23% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, CEO Andrew Wilson sold 2,500 shares of the company’s stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $148.88, for a total value of $372,200.00. Following the sale, the chief executive officer now owns 56,747 shares in the company, valued at $8,448,493.36. This represents a 4.22 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Vijayanthimala Singh sold 7,384 shares of the firm’s stock in a transaction on Wednesday, August 28th. The shares were sold at an average price of $149.91, for a total value of $1,106,935.44. Following the completion of the transaction, the insider now owns 31,190 shares of the company’s stock, 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 31,384 shares of company stock worth $4,776,635 in the last 90 days. 0.22% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the stock. JPMorgan Chase & Co. cut their price objective on shares of Electronic Arts from $155.00 to $150.00 and set a “neutral” rating on the stock in a report on Wednesday, October 30th. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and set a $160.00 price target on shares of Electronic Arts in a research note on Wednesday, September 18th. Stifel Nicolaus lifted their price target on Electronic Arts from $165.00 to $167.00 and gave the stock a “buy” rating in a research report on Wednesday, July 31st. BNP Paribas upgraded shares of Electronic Arts to a “strong-buy” rating in a research report on Wednesday, October 9th. Finally, Morgan Stanley reiterated an “equal weight” rating and issued a $150.00 price target on shares of Electronic Arts in a research report on Wednesday, September 18th. Eight equities research analysts have rated the stock with a hold rating, twelve have issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $165.37.

Electronic Arts Stock Performance

NASDAQ EA opened at $168.08 on Friday. The business’s 50 day moving average is $148.94 and its two-hundred day moving average is $143.49. The stock has a market capitalization of $44.08 billion, a price-to-earnings ratio of 43.21, a PEG ratio of 2.17 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 12-month low of $124.92 and a 12-month high of $168.07.

Electronic Arts Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 18th. Stockholders of record on Wednesday, November 27th will be paid a dividend of $0.19 per share. The ex-dividend date of this dividend is Wednesday, November 27th. This represents a $0.76 dividend on an annualized basis and a dividend yield of 0.45%. Electronic Arts’s dividend payout ratio (DPR) is presently 19.54%.

Electronic Arts Company 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.