Entropy Technologies LP Makes New Investment in Electronic Arts Inc. (NASDAQ:EA)

Entropy Technologies LP purchased a new position in shares of Electronic Arts Inc. (NASDAQ:EA) during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 20,231 shares of the game software company’s stock, valued at approximately $2,902,000.

A number of other institutional investors also recently made changes to their positions in EA. Vanguard Group Inc. grew its position in shares of Electronic Arts by 14.7% in the 1st quarter. Vanguard Group Inc. now owns 29,159,718 shares of the game software company’s stock worth $3,868,620,000 after buying an additional 3,727,251 shares during the last quarter. Price T Rowe Associates Inc. MD raised its holdings in Electronic Arts by 496.9% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 2,511,250 shares of the game software company’s stock worth $333,169,000 after purchasing an additional 2,090,504 shares in the last quarter. Swedbank AB purchased a new stake in shares of Electronic Arts in the 1st quarter worth about $201,935,000. Jericho Capital Asset Management L.P. bought a new stake in shares of Electronic Arts during the 1st quarter valued at about $189,055,000. Finally, Manning & Napier Advisors LLC purchased a new position in shares of Electronic Arts during the second quarter valued at about $188,159,000. Hedge funds and other institutional investors own 90.23% of the company’s stock.

Electronic Arts Stock Performance

Shares of NASDAQ EA opened at $159.39 on Tuesday. The firm’s 50-day moving average price is $145.82 and its 200-day moving average price is $141.66. Electronic Arts Inc. has a 52-week low of $124.92 and a 52-week high of $160.31. The company has a market cap of $41.80 billion, a PE ratio of 40.97, a PEG ratio of 2.06 and a beta of 0.78. The company has a quick ratio of 1.45, a current ratio of 1.43 and a debt-to-equity ratio of 0.25.

Electronic Arts Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, December 18th. Shareholders of record on Wednesday, November 27th will be given a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a yield of 0.48%. The ex-dividend date is Wednesday, November 27th. Electronic Arts’s dividend payout ratio (DPR) is presently 19.54%.

Analyst Ratings Changes

A number of research analysts have recently commented on EA shares. TD Cowen raised their target price on Electronic Arts from $163.00 to $183.00 and gave the company a “buy” rating in a research note on Wednesday, July 31st. Benchmark reissued a “buy” rating and set a $163.00 price objective on shares of Electronic Arts in a research report on Wednesday, October 30th. BMO Capital Markets reaffirmed an “outperform” rating and issued a $160.00 target price (up from $154.00) on shares of Electronic Arts in a research report on Wednesday, October 30th. DZ Bank raised shares of Electronic Arts from a “hold” rating to a “buy” rating and lifted their price target for the company from $135.00 to $177.00 in a research report on Thursday, October 31st. Finally, BNP Paribas upgraded shares of Electronic Arts to a “strong-buy” rating in a report on Wednesday, October 9th. Eight investment analysts have rated the stock with a hold rating, twelve have given a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $165.37.

Insiders Place Their Bets

In related news, insider Laura Miele sold 2,500 shares of the company’s stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $158.03, for a total transaction of $395,075.00. Following the completion of the sale, the insider now owns 50,433 shares in the company, valued at approximately $7,969,926.99. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, insider Vijayanthimala Singh sold 1,000 shares of Electronic Arts stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $151.70, for a total transaction of $151,700.00. Following the transaction, the insider now owns 30,190 shares in the company, valued at $4,579,823. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Laura Miele sold 2,500 shares of the business’s stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $158.03, for a total transaction of $395,075.00. Following the sale, the insider now directly owns 50,433 shares of the company’s stock, valued at approximately $7,969,926.99. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 26,144 shares of company stock valued at $3,886,282. Company insiders own 0.22% of the company’s stock.

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.