Mirae Asset Global Investments Co. Ltd. Raises Stake in Electronic Arts Inc. (NASDAQ:EA)

Mirae Asset Global Investments Co. Ltd. boosted its position in Electronic Arts Inc. (NASDAQ:EA) by 3.1% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 93,921 shares of the game software company’s stock after purchasing an additional 2,835 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in Electronic Arts were worth $13,878,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently bought and sold shares of the company. Robeco Institutional Asset Management B.V. lifted its holdings in Electronic Arts by 51.5% in the fourth 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. abrdn plc lifted its holdings in Electronic Arts by 59.2% in the third quarter. abrdn plc now owns 858,840 shares of the game software company’s stock valued at $123,484,000 after acquiring an additional 319,335 shares during the period. Caisse DE Depot ET Placement DU Quebec lifted its holdings in Electronic Arts by 8,503.9% in the third 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. Los Angeles Capital Management LLC acquired a new position in Electronic Arts in the third quarter valued at approximately $40,154,000. Finally, Huntington National Bank lifted its holdings in Electronic Arts by 983.4% in the third 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. Hedge funds and other institutional investors own 90.23% of the company’s stock.

Electronic Arts Stock Performance

Shares of EA opened at $132.00 on Friday. The stock has a 50-day simple moving average of $144.69 and a 200-day simple moving average of $147.43. The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.43 and a current ratio of 1.43. The stock has a market capitalization of $34.62 billion, a PE ratio of 33.93, a PEG ratio of 2.50 and a beta of 0.79. Electronic Arts Inc. has a 1 year low of $115.21 and a 1 year high of $168.50.

Electronic Arts (NASDAQ:EA) last posted its earnings results on Tuesday, February 4th. The game software company reported $2.34 earnings per share for the quarter, missing the consensus estimate of $3.41 by ($1.07). Electronic Arts had a return on equity of 18.56% and a net margin of 14.12%. On average, analysts predict that Electronic Arts Inc. will post 5.02 earnings per share for the current fiscal year.

Electronic Arts Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 19th. Shareholders 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 0.58%. The ex-dividend date is Wednesday, February 26th. Electronic Arts’s dividend payout ratio is currently 19.34%.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the company. BMO Capital Markets decreased their price target on Electronic Arts from $145.00 to $142.00 and set a “market perform” rating for the company in a report on Wednesday. Moffett Nathanson raised Electronic Arts from a “neutral” rating to a “buy” rating and set a $145.00 target price for the company in a research note on Friday, January 31st. Robert W. Baird reduced their target price on Electronic Arts from $175.00 to $158.00 and set an “outperform” rating for the company in a research note on Thursday, January 23rd. Oppenheimer reduced their price objective on Electronic Arts from $170.00 to $165.00 and set an “outperform” rating for the company in a research note on Tuesday, January 21st. Finally, DZ Bank raised Electronic Arts from a “hold” rating to a “buy” rating and raised their target price for the stock from $135.00 to $177.00 in a research note on Thursday, October 31st. Twelve research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $155.24.

Insider Buying and Selling at Electronic Arts

In related news, insider Vijayanthimala Singh sold 1,000 shares of the company’s stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $164.45, for a total transaction of $164,450.00. Following the transaction, the insider now owns 30,216 shares of the company’s stock, valued at $4,969,021.20. This represents a 3.20 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Jacob J. Schatz sold 1,500 shares of the company’s stock in a transaction on Friday, November 15th. The stock was sold at an average price of $163.30, for a total value of $244,950.00. Following the transaction, the executive vice president now directly owns 23,360 shares in the company, valued at $3,814,688. This represents a 6.03 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 23,500 shares of company stock worth $3,562,510. 0.22% of the stock is 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.