Summit X LLC Invests $206,000 in Electronic Arts Inc. (NASDAQ:EA)

Summit X LLC purchased a new position in shares of Electronic Arts Inc. (NASDAQ:EA) during the fourth quarter, HoldingsChannel.com reports. The fund purchased 1,407 shares of the game software company’s stock, valued at approximately $206,000.

A number of other large investors have also made changes to their positions in the business. Los Angeles Capital Management LLC increased its position in shares of Electronic Arts by 353.4% in the 4th quarter. Los Angeles Capital Management LLC now owns 1,269,258 shares of the game software company’s stock valued at $185,692,000 after acquiring an additional 989,319 shares during the period. Robeco Institutional Asset Management B.V. increased its position in shares of Electronic Arts by 51.5% in the 4th quarter. Robeco Institutional Asset Management B.V. now owns 1,099,746 shares of the game software company’s stock valued at $160,893,000 after acquiring an additional 373,730 shares during the period. Caisse DE Depot ET Placement DU Quebec increased its position in shares of Electronic Arts by 8,503.9% in the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 318,085 shares of the game software company’s stock valued at $45,626,000 after acquiring an additional 314,388 shares during the period. Raymond James Financial Inc. acquired a new position in shares of Electronic Arts in the 4th quarter valued at $34,334,000. Finally, Huntington National Bank increased its position in shares of Electronic Arts by 983.4% in the 3rd quarter. Huntington National Bank now owns 257,902 shares of the game software company’s stock valued at $36,993,000 after acquiring an additional 234,098 shares during the period. 90.23% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms recently issued reports on EA. BNP Paribas downgraded Electronic Arts from an “outperform” rating to a “neutral” rating and set a $125.00 target price on the stock. in a research report on Monday, January 27th. Robert W. Baird lowered their price target on shares of Electronic Arts from $175.00 to $158.00 and set an “outperform” rating on the stock in a report on Thursday, January 23rd. Bank of America upped their price target on shares of Electronic Arts from $130.00 to $132.00 and gave the company a “neutral” rating in a report on Wednesday, February 5th. BMO Capital Markets lowered their price target on shares of Electronic Arts from $145.00 to $142.00 and set a “market perform” rating on the stock in a report on Wednesday, February 5th. Finally, Raymond James lowered shares of Electronic Arts from an “outperform” rating to a “market perform” rating in a report on Thursday, January 23rd. Thirteen research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to MarketBeat, Electronic Arts has an average rating of “Hold” and an average price target of $154.78.

Electronic Arts Trading Down 1.3 %

Shares of Electronic Arts stock opened at $136.12 on Thursday. The firm has a market capitalization of $35.48 billion, a PE ratio of 34.64, a P/E/G ratio of 3.58 and a beta of 0.78. Electronic Arts Inc. has a twelve month low of $115.21 and a twelve month high of $168.50. The firm’s 50-day moving average price is $133.17 and its 200 day moving average price is $145.03. The company has a current ratio of 1.38, a quick ratio of 1.38 and a debt-to-equity ratio of 0.25.

Electronic Arts (NASDAQ:EA) last issued its quarterly earnings results on Tuesday, February 4th. The game software company reported $2.34 earnings per share for the quarter, missing analysts’ consensus estimates of $3.41 by ($1.07). Electronic Arts had a net margin of 14.28% and a return on equity of 17.80%. On average, sell-side analysts predict that Electronic Arts Inc. will post 4.71 EPS for the current fiscal year.

Electronic Arts Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, March 19th. Investors of record on Wednesday, February 26th will be paid a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a yield of 0.56%. The ex-dividend date of this dividend is Wednesday, February 26th. Electronic Arts’s dividend payout ratio is presently 19.34%.

Insider Activity at Electronic Arts

In other Electronic Arts news, insider Vijayanthimala Singh sold 1,000 shares of the stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $147.57, for a total value of $147,570.00. Following the completion of the sale, the insider now owns 29,216 shares in the company, valued at approximately $4,311,405.12. This represents a 3.31 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Jacob J. Schatz sold 1,500 shares of the stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $156.27, for a total transaction of $234,405.00. Following the completion of the sale, the executive vice president now owns 24,886 shares of the company’s stock, valued at approximately $3,888,935.22. The trade was a 5.68 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 24,500 shares of company stock valued at $3,428,645. 0.22% of the stock is owned by corporate insiders.

Electronic Arts 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.