The Manufacturers Life Insurance Company purchased a new stake in shares of Electronic Arts Inc. (NASDAQ:EA – Free Report) in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 105,152 shares of the game software company’s stock, valued at approximately $21,560,000.
A number of other institutional investors and hedge funds have also made changes to their positions in EA. Cornerstone Planning Group LLC boosted its position in shares of Electronic Arts by 26.7% during the 1st quarter. Cornerstone Planning Group LLC now owns 242 shares of the game software company’s stock worth $49,000 after purchasing an additional 51 shares during the period. Optas LLC raised its position in Electronic Arts by 4.2% in the first quarter. Optas LLC now owns 1,332 shares of the game software company’s stock valued at $272,000 after purchasing an additional 54 shares during the period. Macroview Investment Management LLC lifted its stake in Electronic Arts by 6.2% during the fourth quarter. Macroview Investment Management LLC now owns 1,065 shares of the game software company’s stock worth $218,000 after purchasing an additional 62 shares in the last quarter. Candriam S.C.A. lifted its stake in Electronic Arts by 0.3% during the first quarter. Candriam S.C.A. now owns 24,685 shares of the game software company’s stock worth $5,033,000 after purchasing an additional 65 shares in the last quarter. Finally, Parkside Financial Bank & Trust boosted its position in shares of Electronic Arts by 8.0% during the fourth quarter. Parkside Financial Bank & Trust now owns 931 shares of the game software company’s stock worth $190,000 after buying an additional 69 shares during the period. 90.23% of the stock is owned by hedge funds and other institutional investors.
Analyst Ratings Changes
A number of brokerages have recently weighed in on EA. Wall Street Zen raised Electronic Arts to a “hold” rating in a research note on Saturday, June 6th. Zacks Research lowered Electronic Arts from a “hold” rating to a “strong sell” rating in a research note on Monday, July 13th. Weiss Ratings upgraded Electronic Arts from a “hold (c)” rating to a “hold (c+)” rating in a report on Monday, May 18th. Argus downgraded Electronic Arts from a “buy” rating to a “hold” rating in a research report on Thursday, May 28th. Finally, Citigroup boosted their price target on shares of Electronic Arts from $202.00 to $204.00 and gave the stock a “neutral” rating in a research note on Thursday, May 7th. One research analyst has rated the stock with a Buy rating, thirteen have given a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat.com, Electronic Arts currently has a consensus rating of “Reduce” and a consensus target price of $206.50.
Electronic Arts Stock Performance
EA opened at $209.70 on Friday. The business has a fifty day moving average price of $207.82 and a 200 day moving average price of $203.86. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.21 and a quick ratio of 1.05. Electronic Arts Inc. has a 12 month low of $159.10 and a 12 month high of $210.20. The stock has a market capitalization of $52.93 billion, a price-to-earnings ratio of 49.23 and a beta of 0.64.
Electronic Arts (NASDAQ:EA – Get Free Report) last posted its quarterly earnings results on Monday, August 3rd. The game software company reported $1.58 earnings per share (EPS) for the quarter. The company had revenue of $1.99 billion for the quarter. Electronic Arts had a return on equity of 22.45% and a net margin of 13.80%.
Insider Activity at Electronic Arts
In related news, insider Laura Miele sold 2,500 shares of the firm’s stock in a transaction that occurred on Monday, June 15th. The shares were sold at an average price of $203.10, for a total value of $507,750.00. Following the sale, the insider owned 73,513 shares of the company’s stock, valued at $14,930,490.30. This trade represents a 3.29% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Vijayanthimala Singh sold 1,200 shares of Electronic Arts stock in a transaction that occurred on Monday, June 15th. The stock was sold at an average price of $203.00, for a total transaction of $243,600.00. Following the completion of the transaction, the insider owned 26,360 shares of the company’s stock, valued at $5,351,080. This represents a 4.35% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 8,700 shares of company stock valued at $1,766,950 over the last 90 days. 0.24% of the stock is owned by corporate insiders.
About Electronic Arts
Electronic Arts Inc (NASDAQ: EA) is a global interactive entertainment company headquartered in Redwood City, California. Founded in 1982 by Trip Hawkins, EA develops, publishes and distributes video games and related content for a variety of platforms, including consoles, personal computers and mobile devices. The company combines in-house development, partnerships and studio acquisitions to create and maintain a portfolio of entertainment properties and live-service experiences for players worldwide.
EA’s product lineup spans several well-known franchises and genres.
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