BerganKDV Wealth Management LLC Reduces Position in Electronic Arts Inc. (NASDAQ:EA)

BerganKDV Wealth Management LLC lessened its stake in shares of Electronic Arts Inc. (NASDAQ:EA) by 4.2% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 10,958 shares of the game software company’s stock after selling 476 shares during the quarter. BerganKDV Wealth Management LLC’s holdings in Electronic Arts were worth $1,110,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. FMR LLC boosted its position in shares of Electronic Arts by 10.8% during the first quarter. FMR LLC now owns 16,439,841 shares of the game software company’s stock worth $1,670,780,000 after buying an additional 1,598,653 shares during the period. Marshall Wace North America L.P. raised its stake in Electronic Arts by 1,091.0% in the first quarter. Marshall Wace North America L.P. now owns 1,263,601 shares of the game software company’s stock valued at $128,421,000 after buying an additional 1,157,504 shares during the period. Wells Fargo & Company MN raised its stake in Electronic Arts by 72.9% in the first quarter. Wells Fargo & Company MN now owns 1,748,806 shares of the game software company’s stock valued at $177,732,000 after buying an additional 737,527 shares during the period. Vaughan Nelson Investment Management L.P. raised its stake in Electronic Arts by 71.9% in the first quarter. Vaughan Nelson Investment Management L.P. now owns 1,469,320 shares of the game software company’s stock valued at $149,328,000 after buying an additional 614,455 shares during the period. Finally, TD Asset Management Inc. raised its stake in Electronic Arts by 320.6% in the first quarter. TD Asset Management Inc. now owns 797,388 shares of the game software company’s stock valued at $81,039,000 after buying an additional 607,816 shares during the period. Institutional investors and hedge funds own 92.66% of the company’s stock.

A number of brokerages have recently weighed in on EA. Piper Jaffray Companies set a $112.00 target price on Electronic Arts and gave the stock a “buy” rating in a research note on Wednesday, July 31st. Wedbush reiterated an “outperform” rating and set a $112.00 target price on shares of Electronic Arts in a research note on Wednesday, September 4th. Atlantic Securities upgraded Electronic Arts from a “neutral” rating to an “overweight” rating in a research note on Wednesday, August 7th. Sanford C. Bernstein set a $121.00 target price on Electronic Arts and gave the stock a “buy” rating in a research note on Wednesday, July 31st. Finally, BidaskClub upgraded Electronic Arts from a “sell” rating to a “hold” rating in a research note on Friday, August 23rd. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and twenty-one have issued a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus target price of $110.64.

In other Electronic Arts news, CMO Chris Bruzzo sold 6,000 shares of the business’s stock in a transaction on Tuesday, September 10th. The shares were sold at an average price of $100.00, for a total transaction of $600,000.00. Following the sale, the chief marketing officer now owns 36,771 shares of the company’s stock, valued at approximately $3,677,100. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Blake J. Jorgensen sold 5,200 shares of the company’s stock in a transaction on Tuesday, September 10th. The stock was sold at an average price of $99.52, for a total transaction of $517,504.00. Following the completion of the transaction, the chief financial officer now directly owns 102,475 shares in the company, valued at approximately $10,198,312. The disclosure for this sale can be found here. Insiders have sold a total of 95,074 shares of company stock valued at $9,331,897 in the last quarter. Company insiders own 2.18% of the company’s stock.

EA traded up $0.33 during midday trading on Friday, hitting $98.67. 191,101 shares of the company were exchanged, compared to its average volume of 3,117,635. The firm has a market capitalization of $29.32 billion, a P/E ratio of 25.11, a P/E/G ratio of 2.24 and a beta of 0.97. Electronic Arts Inc. has a 1-year low of $73.91 and a 1-year high of $121.30. The firm’s 50 day moving average price is $92.84 and its 200-day moving average price is $95.09. The company has a quick ratio of 3.52, a current ratio of 3.52 and a debt-to-equity ratio of 0.15.

Electronic Arts (NASDAQ:EA) last announced its earnings results on Tuesday, July 30th. The game software company reported ($0.26) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.16) by ($0.10). The company had revenue of $743.00 million for the quarter, compared to analyst estimates of $724.55 million. Electronic Arts had a return on equity of 19.63% and a net margin of 42.75%. On average, sell-side analysts predict that Electronic Arts Inc. will post 3.74 earnings per share for the current fiscal year.

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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