Meritage Portfolio Management Sells 444 Shares of Electronic Arts Inc. (NASDAQ:EA)

Meritage Portfolio Management lowered its stake in Electronic Arts Inc. (NASDAQ:EA) by 0.9% during the 4th quarter, Holdings Channel reports. The institutional investor owned 47,097 shares of the game software company’s stock after selling 444 shares during the quarter. Meritage Portfolio Management’s holdings in Electronic Arts were worth $6,443,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently bought and sold shares of the company. Jennison Associates LLC increased its holdings in shares of Electronic Arts by 1.3% in the fourth quarter. Jennison Associates LLC now owns 6,339 shares of the game software company’s stock worth $867,000 after purchasing an additional 84 shares during the last quarter. Knights of Columbus Asset Advisors LLC raised its stake in Electronic Arts by 0.3% during the third quarter. Knights of Columbus Asset Advisors LLC now owns 34,102 shares of the game software company’s stock valued at $4,106,000 after purchasing an additional 86 shares in the last quarter. Van Lanschot Kempen Investment Management N.V. lifted its position in Electronic Arts by 0.3% during the third quarter. Van Lanschot Kempen Investment Management N.V. now owns 27,085 shares of the game software company’s stock valued at $3,261,000 after purchasing an additional 87 shares during the last quarter. Mirador Capital Partners LP increased its holdings in shares of Electronic Arts by 2.9% in the 4th quarter. Mirador Capital Partners LP now owns 3,264 shares of the game software company’s stock worth $447,000 after buying an additional 91 shares during the last quarter. Finally, Whittier Trust Co. raised its position in shares of Electronic Arts by 4.1% during the 4th quarter. Whittier Trust Co. now owns 2,355 shares of the game software company’s stock valued at $322,000 after buying an additional 93 shares in the last quarter. Institutional investors own 90.23% of the company’s stock.

Insider Activity

In related news, insider Vijayanthimala Singh sold 800 shares of Electronic Arts stock in a transaction on Thursday, February 1st. The shares were sold at an average price of $137.43, for a total transaction of $109,944.00. Following the transaction, the insider now owns 28,683 shares in the company, valued at approximately $3,941,904.69. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, insider Vijayanthimala Singh sold 800 shares of the business’s stock in a transaction that occurred on Thursday, February 1st. The stock was sold at an average price of $137.43, for a total transaction of $109,944.00. Following the completion of the transaction, the insider now directly owns 28,683 shares in the company, valued at $3,941,904.69. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Jacob J. Schatz sold 1,000 shares of the business’s stock in a transaction on Monday, April 15th. The stock was sold at an average price of $128.21, for a total value of $128,210.00. Following the completion of the sale, the insider now directly owns 18,426 shares in the company, valued at approximately $2,362,397.46. The disclosure for this sale can be found here. Insiders sold a total of 34,644 shares of company stock valued at $4,796,360 over the last quarter. Company insiders own 0.20% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on EA shares. BMO Capital Markets began coverage on Electronic Arts in a research note on Tuesday, January 9th. They set an “outperform” rating and a $160.00 price target for the company. Stifel Nicolaus increased their price objective on shares of Electronic Arts from $152.00 to $155.00 and gave the company a “buy” rating in a research note on Thursday, January 18th. Benchmark reiterated a “buy” rating and issued a $153.00 price target on shares of Electronic Arts in a report on Thursday, April 18th. Wedbush reaffirmed an “outperform” rating and set a $162.00 price objective on shares of Electronic Arts in a research report on Wednesday, January 31st. Finally, UBS Group lowered their price target on Electronic Arts from $146.00 to $143.00 and set a “neutral” rating for the company in a report on Wednesday, March 27th. Eight investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Electronic Arts currently has a consensus rating of “Moderate Buy” and an average price target of $147.00.

Electronic Arts Stock Up 0.6 %

NASDAQ:EA traded up $0.76 during trading hours on Friday, hitting $128.07. The company’s stock had a trading volume of 547,499 shares, compared to its average volume of 1,988,711. The stock has a fifty day moving average of $133.67 and a 200-day moving average of $134.48. Electronic Arts Inc. has a 52-week low of $117.47 and a 52-week high of $144.53. The company has a current ratio of 1.33, a quick ratio of 1.33 and a debt-to-equity ratio of 0.25. The stock has a market capitalization of $34.24 billion, a P/E ratio of 32.07, a price-to-earnings-growth ratio of 1.78 and a beta of 0.76.

Electronic Arts (NASDAQ:EA) last posted its earnings results on Tuesday, January 30th. The game software company reported $1.07 EPS for the quarter, missing analysts’ consensus estimates of $2.45 by ($1.38). Electronic Arts had a return on equity of 20.58% and a net margin of 14.09%. The firm had revenue of $2.37 billion for the quarter, compared to analysts’ expectations of $2.40 billion. During the same quarter in the previous year, the firm posted $2.29 earnings per share. The firm’s revenue for the quarter was up 1.0% compared to the same quarter last year. On average, equities analysts forecast that Electronic Arts Inc. will post 5.35 earnings per share for the current 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. 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.