Electronic Arts Inc. (NASDAQ:EA) Shares Sold by Meritage Portfolio Management

Meritage Portfolio Management reduced its position in shares of Electronic Arts Inc. (NASDAQ:EA) by 1.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 42,050 shares of the game software company’s stock after selling 502 shares during the period. Meritage Portfolio Management’s holdings in Electronic Arts were worth $6,152,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. Choreo LLC lifted its holdings in shares of Electronic Arts by 17.8% in the fourth quarter. Choreo LLC now owns 4,041 shares of the game software company’s stock valued at $592,000 after purchasing an additional 610 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. increased its holdings in shares of Electronic Arts by 3.1% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 93,921 shares of the game software company’s stock valued at $13,878,000 after acquiring an additional 2,835 shares during the last quarter. Ninety One SA PTY Ltd lifted its stake in shares of Electronic Arts by 6.3% in the fourth quarter. Ninety One SA PTY Ltd now owns 14,449 shares of the game software company’s stock worth $2,114,000 after buying an additional 858 shares during the last quarter. Greenwood Capital Associates LLC grew its position in shares of Electronic Arts by 1.5% in the fourth quarter. Greenwood Capital Associates LLC now owns 39,614 shares of the game software company’s stock valued at $5,796,000 after purchasing an additional 592 shares during the last quarter. Finally, E. Ohman J or Asset Management AB increased its position in Electronic Arts by 0.6% in the 4th quarter. E. Ohman J or Asset Management AB now owns 186,030 shares of the game software company’s stock worth $27,216,000 after buying an additional 1,200 shares during the period. 90.23% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the company. UBS Group upped their target price on Electronic Arts from $155.00 to $160.00 and gave the company a “neutral” rating in a research note on Wednesday, October 30th. BMO Capital Markets cut shares of Electronic Arts from an “outperform” rating to a “market perform” rating and cut their target price for the company from $160.00 to $145.00 in a research note on Thursday, January 23rd. JPMorgan Chase & Co. reduced their price target on shares of Electronic Arts from $155.00 to $150.00 and set a “neutral” rating on the stock in a research report on Wednesday, October 30th. Benchmark reissued a “buy” rating and issued a $163.00 target price on shares of Electronic Arts in a research note on Wednesday, October 30th. Finally, StockNews.com upgraded shares of Electronic Arts from a “buy” rating to a “strong-buy” rating in a report on Thursday, October 31st. Twelve research analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $156.48.

Electronic Arts Stock Performance

NASDAQ:EA opened at $121.25 on Wednesday. The company has a quick ratio of 1.43, a current ratio of 1.43 and a debt-to-equity ratio of 0.25. Electronic Arts Inc. has a twelve month low of $115.21 and a twelve month high of $168.50. The stock has a market cap of $31.80 billion, a P/E ratio of 31.17, a price-to-earnings-growth ratio of 2.50 and a beta of 0.79. The firm’s fifty day simple moving average is $145.96 and its 200 day simple moving average is $147.66.

Electronic Arts (NASDAQ:EA) last issued its quarterly earnings results on Tuesday, February 4th. The game software company reported $2.34 earnings per share for the quarter, missing the consensus estimate of $3.41 by ($1.07). Electronic Arts had a return on equity of 18.56% and a net margin of 14.12%. As a group, research analysts predict that Electronic Arts Inc. will post 5.02 EPS for the current year.

Insider Buying and Selling at Electronic Arts

In related news, insider Vijayanthimala Singh sold 1,000 shares of the stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $122.03, for a total transaction of $122,030.00. Following the sale, the insider now directly owns 28,216 shares of the company’s stock, valued at $3,443,198.48. This trade represents a 3.42 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Andrew Wilson sold 5,000 shares of the business’s stock in a transaction that occurred on Wednesday, November 20th. The shares were sold at an average price of $166.47, for a total transaction of $832,350.00. Following the transaction, the chief executive officer now directly owns 52,615 shares of the company’s stock, valued at $8,758,819.05. The trade was a 8.68 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 23,500 shares of company stock worth $3,562,510. 0.22% of the stock is owned by insiders.

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.