The Manufacturers Life Insurance Company decreased its holdings in Electronic Arts Inc. (NASDAQ:EA) by 43.2% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 339,138 shares of the game software company’s stock after selling 258,052 shares during the quarter. The Manufacturers Life Insurance Company owned 0.11% of Electronic Arts worth $40,863,000 at the end of the most recent reporting period.
Several other hedge funds also recently bought and sold shares of EA. BlackRock Inc. grew its position in Electronic Arts by 0.5% in the third quarter. BlackRock Inc. now owns 22,521,875 shares of the game software company’s stock worth $2,713,662,000 after acquiring an additional 111,709 shares during the period. Massachusetts Financial Services Co. MA grew its position in Electronic Arts by 31.8% in the third quarter. Massachusetts Financial Services Co. MA now owns 9,697,249 shares of the game software company’s stock worth $1,168,422,000 after acquiring an additional 2,339,158 shares during the period. Bank of New York Mellon Corp lifted its stake in Electronic Arts by 3.7% during the third quarter. Bank of New York Mellon Corp now owns 4,061,892 shares of the game software company’s stock worth $489,417,000 after purchasing an additional 145,570 shares in the last quarter. Brown Advisory Inc. lifted its stake in Electronic Arts by 25.4% during the third quarter. Brown Advisory Inc. now owns 3,666,061 shares of the game software company’s stock worth $441,724,000 after purchasing an additional 742,742 shares in the last quarter. Finally, American Century Companies Inc. lifted its stake in Electronic Arts by 1.0% during the third quarter. American Century Companies Inc. now owns 2,936,888 shares of the game software company’s stock worth $353,866,000 after purchasing an additional 28,127 shares in the last quarter. Institutional investors and hedge funds own 94.78% of the company’s stock.
In other news, insider Laura Miele sold 1,250 shares of the stock in a transaction on Wednesday, January 2nd. The shares were sold at an average price of $79.51, for a total transaction of $99,387.50. Following the transaction, the insider now owns 8,461 shares in the company, valued at approximately $672,734.11. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, General Counsel Jacob J. Schatz sold 1,000 shares of the stock in a transaction on Monday, October 22nd. The stock was sold at an average price of $102.81, for a total transaction of $102,810.00. Following the transaction, the general counsel now owns 17,029 shares in the company, valued at approximately $1,750,751.49. The disclosure for this sale can be found here. In the last 90 days, insiders sold 51,700 shares of company stock valued at $4,525,011. 2.24% of the stock is owned by insiders.
Shares of NASDAQ:EA traded up $2.10 during midday trading on Thursday, hitting $91.01. 4,729,049 shares of the company’s stock traded hands, compared to its average volume of 5,165,646. The company has a current ratio of 3.52, a quick ratio of 3.52 and a debt-to-equity ratio of 0.19. The firm has a market capitalization of $25.51 billion, a price-to-earnings ratio of 26.46, a PEG ratio of 1.45 and a beta of 1.00. Electronic Arts Inc. has a twelve month low of $73.91 and a twelve month high of $151.26.
Electronic Arts (NASDAQ:EA) last issued its quarterly earnings data on Tuesday, October 30th. The game software company reported $0.83 EPS for the quarter, topping analysts’ consensus estimates of $0.37 by $0.46. Electronic Arts had a net margin of 18.76% and a return on equity of 26.01%. The firm had revenue of $1.22 billion for the quarter, compared to analyst estimates of $1.18 billion. During the same quarter in the previous year, the business posted $0.62 EPS. The firm’s revenue was up 3.6% compared to the same quarter last year. On average, analysts predict that Electronic Arts Inc. will post 3.87 earnings per share for the current year.
Several analysts have recently issued reports on the company. Stephens began coverage on Electronic Arts in a research note on Thursday. They issued an “overweight” rating on the stock. SunTrust Banks set a $105.00 target price on Electronic Arts and gave the company a “buy” rating in a report on Tuesday. BidaskClub raised Electronic Arts from a “sell” rating to a “hold” rating in a report on Monday. Wedbush set a $133.00 price objective on Electronic Arts and gave the stock a “buy” rating in a report on Wednesday, October 31st. Finally, Zacks Investment Research reissued a “hold” rating on shares of Electronic Arts in a report on Tuesday, November 13th. Seven research analysts have rated the stock with a hold rating, twenty-two have assigned a buy rating and one has given a strong buy rating to the company. The company presently has an average rating of “Buy” and a consensus target price of $131.63.
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About Electronic Arts
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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