GAM Holding AG Decreases Holdings in Electronic Arts Inc. (NASDAQ:EA)

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GAM Holding AG reduced its stake in Electronic Arts Inc. (NASDAQ:EA) by 89.1% in the first quarter, HoldingsChannel.com reports. The fund owned 5,500 shares of the game software company’s stock after selling 44,755 shares during the quarter. GAM Holding AG’s holdings in Electronic Arts were worth $559,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently modified their holdings of the company. Massachusetts Financial Services Co. MA boosted its position in shares of Electronic Arts by 20.1% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 11,650,029 shares of the game software company’s stock worth $919,303,000 after buying an additional 1,952,780 shares during the period. Brown Advisory Inc. boosted its position in shares of Electronic Arts by 15.4% during the fourth quarter. Brown Advisory Inc. now owns 4,230,653 shares of the game software company’s stock worth $333,840,000 after buying an additional 564,592 shares during the period. Geode Capital Management LLC boosted its position in shares of Electronic Arts by 4.8% during the fourth quarter. Geode Capital Management LLC now owns 3,613,795 shares of the game software company’s stock worth $284,619,000 after buying an additional 164,030 shares during the period. Northern Trust Corp boosted its position in shares of Electronic Arts by 7.7% during the fourth quarter. Northern Trust Corp now owns 3,588,533 shares of the game software company’s stock worth $283,172,000 after buying an additional 256,711 shares during the period. Finally, Amundi Pioneer Asset Management Inc. boosted its position in shares of Electronic Arts by 39.7% during the fourth quarter. Amundi Pioneer Asset Management Inc. now owns 3,577,578 shares of the game software company’s stock worth $282,307,000 after buying an additional 1,016,222 shares during the period. Institutional investors own 93.61% of the company’s stock.

EA has been the subject of several analyst reports. Stifel Nicolaus reiterated a “buy” rating and set a $109.00 price objective on shares of Electronic Arts in a research report on Thursday, February 14th. BMO Capital Markets boosted their price objective on Electronic Arts from $96.00 to $116.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 13th. Nomura initiated coverage on Electronic Arts in a research report on Thursday, June 6th. They set a “buy” rating and a $120.00 price objective for the company. BidaskClub downgraded Electronic Arts from a “hold” rating to a “sell” rating in a research report on Friday, April 5th. Finally, Bank of America boosted their target price on Electronic Arts from $110.00 to $118.00 and gave the stock a “buy” rating in a report on Tuesday, February 19th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and twenty-one have issued a buy rating to the stock. The company currently has an average rating of “Buy” and an average target price of $111.30.

In other Electronic Arts news, insider Laura Miele sold 1,250 shares of the company’s stock in a transaction on Monday, June 3rd. The stock was sold at an average price of $92.20, for a total value of $115,250.00. Following the transaction, the insider now owns 15,504 shares of the company’s stock, valued at $1,429,468.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Andrew Wilson sold 29,000 shares of the company’s stock in a transaction 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 completion of the transaction, the chief executive officer now directly owns 20,000 shares in the company, valued at approximately $2,060,000. The disclosure for this sale can be found here. Insiders sold 77,044 shares of company stock worth $7,571,564 in the last ninety days. 2.24% of the stock is owned by corporate insiders.

Shares of NASDAQ:EA opened at $92.67 on Thursday. The company has a market cap of $28.11 billion, a P/E ratio of 23.94, a PEG ratio of 1.52 and a beta of 1.03. Electronic Arts Inc. has a 12 month low of $73.91 and a 12 month high of $151.26. 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 (NASDAQ:EA) last posted its quarterly earnings results on Tuesday, May 7th. The game software company reported $1.21 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.78 by $0.43. The company had revenue of $1.36 billion for the quarter, compared to analysts’ expectations of $1.20 billion. Electronic Arts had a return on equity of 22.62% and a net margin of 20.59%. The firm’s revenue was up 8.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.31 earnings per share. As a group, analysts anticipate that Electronic Arts Inc. will post 3.77 earnings per share for the current fiscal year.

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Electronic Arts Company 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.

Further Reading: Cost of Capital

Want to see what other hedge funds are holding EA? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Electronic Arts Inc. (NASDAQ:EA).

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

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