Electronic Arts Inc. (NASDAQ:EA) Shares Purchased by RBA Wealth Management LLC

22 Oct 2024, 20:22 by Sarita Garza · The Markets Daily

RBA Wealth Management LLC increased its position in shares of Electronic Arts Inc. (NASDAQ:EA – Free Report) by 1.5% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 26,791 shares of the game software company’s stock after acquiring an additional 408 shares during the period. RBA Wealth Management LLC’s holdings in Electronic Arts were worth $3,843,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the company. North Star Investment Management Corp. raised its position in Electronic Arts by 333.3% in the 1st quarter. North Star Investment Management Corp. now owns 195 shares of the game software company’s stock valued at $26,000 after purchasing an additional 150 shares in the last quarter. Redmont Wealth Advisors LLC acquired a new stake in Electronic Arts in the 1st quarter valued at about $27,000. Opal Wealth Advisors LLC acquired a new stake in Electronic Arts in the 2nd quarter valued at about $28,000. Family Firm Inc. acquired a new stake in Electronic Arts in the 2nd quarter valued at about $33,000. Finally, New Covenant Trust Company N.A. acquired a new stake in Electronic Arts in the 1st quarter valued at about $35,000. Institutional investors and hedge funds own 90.23% of the company’s stock.

Insiders Place Their Bets

In other Electronic Arts news, EVP Jacob J. Schatz sold 1,500 shares of the firm’s stock in a transaction on Tuesday, October 15th. The stock was sold at an average price of $144.72, for a total transaction of $217,080.00. Following the completion of the transaction, the executive vice president now owns 24,860 shares of the company’s stock, valued at approximately $3,597,739.20. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In other news, EVP Jacob J. Schatz sold 1,500 shares of Electronic Arts stock in a transaction on Tuesday, October 15th. The stock was sold at an average price of $144.72, for a total value of $217,080.00. Following the completion of the sale, the executive vice president now owns 24,860 shares of the company’s stock, valued at $3,597,739.20. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Andrew Wilson sold 2,500 shares of Electronic Arts stock in a transaction on Thursday, July 25th. The shares were sold at an average price of $142.42, for a total value of $356,050.00. Following the completion of the sale, the chief executive officer now directly owns 59,247 shares of the company’s stock, valued at approximately $8,437,957.74. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 24,770 shares of company stock valued at $3,643,785. Corporate insiders own 0.22% of the company’s stock.

Electronic Arts Price Performance

EA stock traded up $0.27 during midday trading on Tuesday, hitting $145.98. 809,777 shares of the stock were exchanged, compared to its average volume of 2,052,021. The stock’s 50-day moving average price is $145.16 and its 200-day moving average price is $139.23. The stock has a market cap of $38.79 billion, a price-to-earnings ratio of 31.19, a PEG ratio of 1.95 and a beta of 0.79. Electronic Arts Inc. has a fifty-two week low of $119.92 and a fifty-two week high of $153.51. The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.45 and a current ratio of 1.45.

Electronic Arts (NASDAQ:EA – Get Free Report) last issued its quarterly earnings data on Tuesday, July 30th. The game software company reported $0.09 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.03 by $0.06. The firm had revenue of $1.26 billion during the quarter, compared to analysts’ expectations of $1.21 billion. Electronic Arts had a return on equity of 16.34% and a net margin of 15.77%. Research analysts predict that Electronic Arts Inc. will post 5.93 earnings per share for the current year.

Electronic Arts Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, September 18th. Shareholders of record on Wednesday, August 28th were given a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a yield of 0.52%. The ex-dividend date was Wednesday, August 28th. Electronic Arts’s payout ratio is 16.24%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on EA shares. JPMorgan Chase & Co. increased their price objective on Electronic Arts from $148.00 to $155.00 and gave the company a “neutral” rating in a report on Monday, July 15th. The Goldman Sachs Group increased their price objective on Electronic Arts from $139.00 to $150.00 and gave the company a “neutral” rating in a report on Wednesday, July 31st. Benchmark reiterated a “buy” rating and issued a $163.00 price objective on shares of Electronic Arts in a report on Wednesday, September 18th. UBS Group increased their price objective on Electronic Arts from $143.00 to $155.00 and gave the company a “neutral” rating in a report on Wednesday, July 31st. Finally, Wedbush increased their price objective on Electronic Arts from $162.00 to $170.00 and gave the company an “outperform” rating in a report on Wednesday, July 31st. Nine analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Electronic Arts has a consensus rating of “Moderate Buy” and a consensus target price of $161.94.

Check Out Our Latest Research Report on Electronic Arts

About Electronic Arts

(Free Report)

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.