Electronic Arts Inc . (NASDAQ:EA) Chief People Officer Vijayanthimala Singh has sold a total of 800 shares of company stock, netting a total of $106,304 at a price of $132.88 per share. The sale took place on June 3, 2024, and was reported in a recent filing with the Securities and Exchange Commission.
The transaction was carried out under a prearranged 10b5-1 trading plan, which allows company insiders to set up a schedule for selling stocks they own in advance, at a time when they are not in possession of material non-public information. This plan had been established by Singh and the Singh-Force Family Trust on May 11, 2023.
Following the sale, the Singh-Force Family Trust continues to hold 39,374 shares of Electronic Arts stock. The trust, in which Singh has investment control and pecuniary interest, maintains ownership of these shares. The reporting document was signed by Deborah Berenjfoorosh, Attorney-in-Fact for Singh, on June 4, 2024.
This recent sale by a high-ranking executive at Electronic Arts provides investors with insight into insider transactions at the company, which is known for its portfolio of popular video games and services in the prepackaged software industry.
InvestingPro Insights
Amidst the news of Electronic Arts Inc. (NASDAQ:EA) Chief People Officer's stock sale, investors might be keen to understand the broader financial context of the company. According to InvestingPro data, EA holds a market capitalization of $36.44 billion, with a P/E ratio standing at 28.77. The company's stability can be inferred from its PEG ratio of 0.45, which suggests that its earnings growth is potentially undervalued. Additionally, EA's revenue for the last twelve months as of Q4 2024 was $7.562 billion, reflecting a modest growth of 1.83%.
Two notable InvestingPro Tips highlight the company's financial health and investor sentiment. Electronic Arts boasts a perfect Piotroski Score of 9, indicating high financial strength across several measures. Moreover, it has successfully raised its dividend for 4 consecutive years, an encouraging sign for income-focused investors. These aspects may provide some assurance following insider transactions, which can sometimes raise concerns amongst shareholders.
For those looking to delve deeper into Electronic Arts' financials and future prospects, InvestingPro offers additional insights. There are 11 more InvestingPro Tips available, which can be accessed by visiting https://www.investing.com/pro/EA. To enhance your investing toolkit, use the coupon code PRONEWS24 to receive an additional 10% off a yearly or biyearly Pro and Pro+ subscription.
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