Cullinan Associates Inc. Reduces Position in Electronic Arts Inc. (NASDAQ:EA)

Cullinan Associates Inc. cut its holding in Electronic Arts Inc. (NASDAQ:EA – Get Rating) by 10.4% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 153,261 shares of the gaming software company after selling 17,784 shares during the quarter. Electronic Arts makes up 1.0% of Cullinan Associates Inc.’s portfolio, making the stock its 18th-largest position. Cullinan Associates Inc. owned 0.06% of Electronic Arts worth $18,725,000 at the time of its most recent SEC filing.

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Other major investors have also recently changed their stakes in the company. Checchi Capital Advisers LLC increased its holdings of Electronic Arts stock by 2.2% in the third quarter. Checchi Capital Advisers LLC now owns 3,820 shares of the gaming software company valued at $442,000 after purchasing an additional 83 shares during the period. Synovus Financial Corp increased its position in Electronic Arts by 1.5% in the third quarter. Synovus Financial Corp now owns 5,673 shares of the gaming software company valued at $654,000 after purchasing an additional 85 shares during the period. Moody National Bank’s Trust Division increased its position in Electronic Arts by 1.3% in the fourth quarter. Moody National Bank’s Trust Division now owns 7,430 shares of the gaming software company, valued at $908,000, after purchasing an additional 92 shares during the period. Flputnam Investment Management Co. increased its holding in Electronic Arts by 4.3% in the third quarter. Flputnam Investment Management Co. now owns 2,373 shares of the $275,000 gaming software company after purchasing an additional 98 shares during the period. Finally, Mission Wealth Management LP increased its holding in Electronic Arts by 1.6% during the third quarter. Mission Wealth Management LP now owns 6,183 shares of the gaming software company, valued at $715,000, after purchasing an additional 99 shares during the period. Institutional investors own 89.46% of the company’s shares.

Changes in analyst ratings

Several equity analysts have published reports on the stock. Credit Suisse Group lowered its target price on Electronic Arts shares to $132.00 from $154.00 in a report on Wednesday, February 1. StockNews.com began reporting shares of Electronic Arts in a research note Thursday. They gave the stock a “buy” rating. Deutsche Bank Aktiengesellschaft has downgraded Electronic Arts shares from a “buy” rating to a “hold” rating and has set a price target of $125.00 for the stock. in a research note on Thursday, February 16. Ascendiant Capital Markets lowered its target price on Electronic Arts shares to $152.00 from $156.00 and gave the stock a “buy” rating in a research note on Monday, December 19. Finally, Morgan Stanley lowered its price target on Electronic Arts shares to $130.00 from $140.00 and issued a research note on Wednesday, February 1st, giving the stock an “Equal Weight” rating. Ten research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to MarketBeat, Electronic Arts has an average rating of “Moderate Buy” and an average price target of $135.54.

Electronic Arts stock performance

Shares of EA opened at $113.35 on Friday. The company has a gearing ratio of 0.25, a current ratio of 1.23 and a quick ratio of 1.23. The stock has a market cap of $31.29 billion, a P/E of 30.55, a price-to-earnings-to-growth ratio of 8.46, and a beta of 0.86. The stock has a 50-day moving average of $117.00 and a 200-day moving average of $122.04. Electronic Arts Inc. has a yearly low of $108.53 and a yearly high of $142.79.

Electronic Arts (NASDAQ:EA – Get Rating) last reported its quarterly earnings results on Tuesday, January 31st. The gaming software company reported earnings per share of $0.73 for the quarter, missing analyst consensus estimates of $2.62 ($1.89). Electronic Arts had a net margin of 14.08% and a return on equity of 14.38%. The company had revenue of $2.34 billion for the quarter, compared to the consensus estimate of $2.50 billion. For the same period last year, the company generated earnings per share of $2.80. The company’s revenue fell 9.1% compared to the prior-year quarter. As a group, sell-side analysts expect Electronic Arts Inc. to report year-to-date earnings per share of 4.44.

Electronic Arts dividend announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, March 22nd. Investors of record on Wednesday, March 1st will receive a dividend of $0.19 per share. The ex-dividend date is Tuesday February 28th. That equates to an annual dividend of $0.76 and a yield of 0.67%. Electronic Arts’ RTP is 20.49%.

Insider buying and selling

In other news, insider Vijayanthimala Singh sold 800 shares of the company in a transaction that took place on Wednesday, February 1st. The shares sold at an average price of $116.78 for a total transaction of $93,424.00. Upon closing of the transaction, the insider now directly owns 25,355 shares of the company, valued at approximately $2,960,956.90. The sale was disclosed in a document filed with the Securities & Exchange Commission, available at this hyperlink. In other news, insider Vijayanthimala Singh sold 800 shares of the company in a transaction that took place on Wednesday, February 1st. The shares sold at an average price of $116.78 for a total transaction of $93,424.00. Upon closing of the transaction, the insider now directly owns 25,355 shares of the company, valued at approximately $2,960,956.90. The sale was disclosed in a document filed with the Securities & Exchange Commission, available at this hyperlink. In addition, CEO Andrew Wilson sold 5,000 shares of the company’s stock in a transaction that took place on Monday, January 30th. The stock sold at an average price of $129.00 for a total transaction of $645,000.00. Following the transaction, the Chief Executive Officer now directly owns 80,274 shares of the Company, valued at $10,355,346. The disclosure for this sale can be found here. Over the past three months, insiders sold 13,100 shares of the company’s shares, valued at $1,626,881. 0.37% of the shares are owned by company insiders.

Electronic Arts profile

(received rating)

Electronic Arts, Inc develops, markets, publishes, and distributes games, content, and services for gaming consoles, personal computers, mobile phones, and tablets worldwide. The company develops and publishes games and services from various genres, such as sports, first-person shooter, action, role-playing and simulation, mainly under the titles Battlefield, The Sims, Apex Legends, Anthem, Need for Speed ​​​​and Plants v.

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