Cullinan Associates Inc. Sells 17,637 Shares of Electronic Arts Inc. (NASDAQ:EA)

Cullinan Associates Inc. lowered its holdings in Electronic Arts Inc. (NASDAQ:EA) by 9.5% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 167,581 shares of the game software company’s stock after selling 17,637 shares during the quarter. Electronic Arts makes up 1.3% of Cullinan Associates Inc.’s portfolio, making the stock its 19th biggest position. Cullinan Associates Inc. owned 0.06% of Electronic Arts worth $24,395,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of the business. Janiczek Wealth Management LLC grew its stake in Electronic Arts by 15.2% in the first quarter. Janiczek Wealth Management LLC now owns 895 shares of the game software company’s stock valued at $119,000 after purchasing an additional 118 shares during the last quarter. KRS Capital Management LLC raised its stake in shares of Electronic Arts by 17.1% during the 1st quarter. KRS Capital Management LLC now owns 1,880 shares of the game software company’s stock worth $249,000 after acquiring an additional 275 shares in the last quarter. Mirador Capital Partners LP raised its stake in shares of Electronic Arts by 15.4% during the 1st quarter. Mirador Capital Partners LP now owns 3,766 shares of the game software company’s stock worth $500,000 after acquiring an additional 502 shares in the last quarter. Diversified Trust Co lifted its position in Electronic Arts by 90.0% during the first quarter. Diversified Trust Co now owns 15,150 shares of the game software company’s stock valued at $2,010,000 after acquiring an additional 7,176 shares during the last quarter. Finally, Claro Advisors LLC boosted its stake in Electronic Arts by 5.6% in the first quarter. Claro Advisors LLC now owns 1,881 shares of the game software company’s stock valued at $250,000 after acquiring an additional 100 shares in the last quarter. Hedge funds and other institutional investors own 90.23% of the company’s stock.

Insider Buying and Selling at Electronic Arts

In related news, insider Vijayanthimala Singh sold 7,384 shares of Electronic Arts stock in a transaction that occurred on Wednesday, August 28th. The stock was sold at an average price of $149.91, for a total transaction of $1,106,935.44. Following the transaction, the insider now owns 31,190 shares in the company, valued at approximately $4,675,692.90. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other news, EVP Jacob J. Schatz sold 1,500 shares of the stock in a transaction that occurred on Wednesday, August 28th. The shares were sold at an average price of $149.32, for a total value of $223,980.00. Following the completion of the sale, the executive vice president now owns 27,860 shares of the company’s stock, valued at $4,160,055.20. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Vijayanthimala Singh sold 7,384 shares of Electronic Arts stock in a transaction that occurred on Wednesday, August 28th. The shares were sold at an average price of $149.91, for a total transaction of $1,106,935.44. Following the sale, the insider now directly owns 31,190 shares in the company, valued at approximately $4,675,692.90. 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 22,270 shares of company stock worth $3,287,735. Insiders own 0.22% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on EA shares. Morgan Stanley reissued an “equal weight” rating and issued a $150.00 price target on shares of Electronic Arts in a report on Wednesday, September 18th. The Goldman Sachs Group boosted their target price on shares of Electronic Arts from $139.00 to $150.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 31st. Benchmark reaffirmed a “buy” rating and issued a $163.00 price target on shares of Electronic Arts in a report on Wednesday, September 18th. Roth Mkm reissued a “neutral” rating and set a $154.00 price objective on shares of Electronic Arts in a report on Thursday, September 19th. Finally, Deutsche Bank Aktiengesellschaft restated a “hold” rating and issued a $160.00 target price on shares of Electronic Arts in a research note on Wednesday, September 18th. Nine equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, Electronic Arts has a consensus rating of “Moderate Buy” and an average target price of $161.94.

Electronic Arts Price Performance

Electronic Arts stock traded up $1.97 during trading on Friday, reaching $147.00. The company had a trading volume of 46,941 shares, compared to its average volume of 2,040,849. The firm has a market capitalization of $39.06 billion, a PE ratio of 30.99, a price-to-earnings-growth ratio of 1.95 and a beta of 0.79. The firm’s 50-day simple moving average is $145.07 and its 200 day simple moving average is $139.41. 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 Inc. has a 1-year low of $119.92 and a 1-year high of $153.51.

Electronic Arts (NASDAQ:EA) last issued its quarterly earnings results on Tuesday, July 30th. The game software company reported $0.09 earnings per share for the quarter, beating analysts’ consensus estimates of $0.03 by $0.06. Electronic Arts had a net margin of 15.77% and a return on equity of 16.34%. The firm had revenue of $1.26 billion for the quarter, compared to analyst estimates of $1.21 billion. As a group, equities research analysts anticipate that Electronic Arts Inc. will post 5.93 earnings per share for the current fiscal year.

Electronic Arts Dividend Announcement

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

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.