Primecap Management Co. CA Decreases Holdings in Electronic Arts Inc. (NASDAQ:EA)

Primecap Management Co. CA trimmed its holdings in shares of Electronic Arts Inc. (NASDAQ:EA) by 11.4% in the 1st quarter, HoldingsChannel.com reports. The fund owned 989,925 shares of the game software company’s stock after selling 127,500 shares during the quarter. Primecap Management Co. CA’s holdings in Electronic Arts were worth $100,606,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Wetherby Asset Management Inc. lifted its stake in shares of Electronic Arts by 2.4% in the 1st quarter. Wetherby Asset Management Inc. now owns 4,521 shares of the game software company’s stock valued at $459,000 after purchasing an additional 107 shares during the period. Resources Investment Advisors Inc. lifted its stake in shares of Electronic Arts by 9.8% in the 1st quarter. Resources Investment Advisors Inc. now owns 1,293 shares of the game software company’s stock valued at $131,000 after purchasing an additional 115 shares during the period. Bronfman E.L. Rothschild L.P. lifted its stake in shares of Electronic Arts by 4.8% in the 4th quarter. Bronfman E.L. Rothschild L.P. now owns 2,715 shares of the game software company’s stock valued at $214,000 after purchasing an additional 124 shares during the period. Signaturefd LLC lifted its stake in shares of Electronic Arts by 5.4% in the 1st quarter. Signaturefd LLC now owns 2,578 shares of the game software company’s stock valued at $262,000 after purchasing an additional 132 shares during the period. Finally, Berman Capital Advisors LLC raised its position in Electronic Arts by 70.6% during the first quarter. Berman Capital Advisors LLC now owns 343 shares of the game software company’s stock worth $34,000 after acquiring an additional 142 shares during the period. Institutional investors and hedge funds own 93.61% of the company’s stock.

A number of equities analysts have weighed in on the stock. BidaskClub upgraded shares of Electronic Arts from a “sell” rating to a “hold” rating in a research report on Tuesday. Barclays set a $102.00 price objective on shares of Electronic Arts and gave the stock a “buy” rating in a research report on Wednesday, May 8th. Citigroup assumed coverage on shares of Electronic Arts in a research report on Friday, June 7th. They set a “neutral” rating and a $102.00 price objective for the company. UBS Group upped their price objective on shares of Electronic Arts from $115.00 to $120.00 and gave the stock a “buy” rating in a research report on Wednesday, May 8th. Finally, Piper Jaffray Companies restated an “overweight” rating and set a $114.00 price objective (up from $111.00) on shares of Electronic Arts in a research report on Wednesday, April 3rd. One analyst has rated the stock with a sell rating, eight have given a hold rating and twenty-one have issued a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average target price of $111.30.

In related news, CEO Andrew Wilson sold 29,000 shares of the firm’s stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $103.00, for a total value of $2,987,000.00. Following the sale, the chief executive officer now owns 20,000 shares of the company’s stock, valued at $2,060,000. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Chris Bruzzo sold 3,000 shares of the firm’s stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $103.00, for a total transaction of $309,000.00. Following the completion of the sale, the insider now directly owns 35,271 shares in the company, valued at approximately $3,632,913. The disclosure for this sale can be found here. Insiders sold 82,244 shares of company stock worth $8,066,500 in the last ninety days. 2.24% of the stock is currently owned by corporate insiders.

Shares of EA traded down $2.15 during mid-day trading on Friday, reaching $91.42. The stock had a trading volume of 566,505 shares, compared to its average volume of 2,617,897. The company has a current ratio of 2.82, a quick ratio of 2.82 and a debt-to-equity ratio of 0.19. Electronic Arts Inc. has a 52-week low of $73.91 and a 52-week high of $151.26. The firm has a market capitalization of $27.87 billion, a P/E ratio of 23.26, a P/E/G ratio of 1.49 and a beta of 1.03.

Electronic Arts (NASDAQ:EA) last announced its quarterly earnings data on Tuesday, May 7th. The game software company reported $1.21 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.78 by $0.43. Electronic Arts had a net margin of 20.59% and a return on equity of 22.62%. The firm had revenue of $1.36 billion during the quarter, compared to analyst estimates of $1.20 billion. During the same quarter in the prior year, the firm posted $1.31 earnings per share. Electronic Arts’s quarterly revenue was up 8.7% on a year-over-year basis. Equities research analysts predict that Electronic Arts Inc. will post 3.77 earnings per share for the current fiscal year.

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Electronic Arts Profile

Electronic Arts Inc develops, markets, publishes, and distributes games, content, and services for game consoles, PCs, mobile phones, and tablets worldwide. The company develops and publishes games and services across various genres, such as sports, first-person shooter, action, role-playing, and simulation primarily under the Battlefield, Mass Effect, Need for Speed, The Sims, and Plants v.

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Institutional Ownership by Quarter for Electronic Arts (NASDAQ:EA)

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