Electronic Arts Inc. (NASDAQ:EA) Shares Sold by Primecap Management Co. CA

Primecap Management Co. CA reduced its holdings in Electronic Arts Inc. (NASDAQ:EA - Free Report) by 4.7% during the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 710,130 shares of the game software company's stock after selling 34,640 shares during the quarter. Primecap Management Co. CA owned 0.27% of Electronic Arts worth $101,861,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Ashton Thomas Securities LLC bought a new stake in Electronic Arts during the third quarter worth about $25,000. Opal Wealth Advisors LLC purchased a new stake in shares of Electronic Arts in the 2nd quarter valued at $28,000. Family Firm Inc. bought a new position in shares of Electronic Arts during the 2nd quarter valued at $33,000. Reston Wealth Management LLC bought a new position in shares of Electronic Arts during the 3rd quarter valued at $36,000. Finally, Gradient Investments LLC raised its position in Electronic Arts by 592.1% in the 2nd quarter. Gradient Investments LLC now owns 263 shares of the game software company's stock worth $37,000 after purchasing an additional 225 shares during the period. 90.23% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, EVP Jacob J. Schatz sold 1,500 shares of the business's stock in a transaction on Wednesday, August 28th. The shares were sold at an average price of $149.32, for a total value of $223,980.00. Following the completion of the sale, the executive vice president now owns 27,860 shares of the company's stock, valued at approximately $4,160,055.20. The trade was a 5.11 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Andrew Wilson sold 2,500 shares of the stock in a transaction on Monday, August 26th. The shares were sold at an average price of $148.88, for a total transaction of $372,200.00. Following the transaction, the chief executive officer now directly owns 56,747 shares in the company, valued at approximately $8,448,493.36. The trade was a 4.22 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 31,384 shares of company stock valued at $4,776,635. Company insiders own 0.22% of the company's stock.

Electronic Arts Stock Performance

Shares of NASDAQ:EA traded down $1.30 on Friday, hitting $166.67. 1,638,033 shares of the company were exchanged, compared to its average volume of 2,049,793. The firm has a market capitalization of $43.71 billion, a P/E ratio of 42.85, a price-to-earnings-growth ratio of 2.17 and a beta of 0.78. The company has a current ratio of 1.43, a quick ratio of 1.43 and a debt-to-equity ratio of 0.25. Electronic Arts Inc. has a 1-year low of $124.92 and a 1-year high of $168.50. The stock's 50 day moving average price is $149.36 and its 200 day moving average price is $143.74.

Electronic Arts Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 18th. Shareholders of record on Wednesday, November 27th will be issued a $0.19 dividend. This represents a $0.76 annualized dividend and a yield of 0.46%. The ex-dividend date of this dividend is Wednesday, November 27th. Electronic Arts's payout ratio is 19.54%.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the stock. UBS Group lifted their target price on shares of Electronic Arts from $155.00 to $160.00 and gave the stock a "neutral" rating in a research note on Wednesday, October 30th. Wedbush reissued an "outperform" rating and issued a $170.00 target price on shares of Electronic Arts in a research note on Friday, October 25th. Argus upped their price target on Electronic Arts from $161.00 to $183.00 and gave the company a "buy" rating in a research report on Thursday, November 7th. DZ Bank upgraded Electronic Arts from a "hold" rating to a "buy" rating and lifted their price objective for the stock from $135.00 to $177.00 in a research report on Thursday, October 31st. Finally, Raymond James raised their price target on Electronic Arts from $155.00 to $170.00 and gave the stock an "outperform" rating in a research note on Wednesday, July 31st. Eight equities research analysts have rated the stock with a hold rating, twelve have issued a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $165.37.

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.