The Manufacturers Life Insurance Company Invests $21.56 Million in Electronic Arts Inc. $EA

The Manufacturers Life Insurance Company purchased a new stake in Electronic Arts Inc. (NASDAQ:EA) in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 105,152 shares of the game software company’s stock, valued at approximately $21,560,000.

Other hedge funds also recently added to or reduced their stakes in the company. Brighton Jones LLC lifted its position in Electronic Arts by 9.4% in the fourth quarter. Brighton Jones LLC now owns 3,420 shares of the game software company’s stock valued at $500,000 after acquiring an additional 294 shares during the last quarter. Empowered Funds LLC grew its holdings in shares of Electronic Arts by 167.0% during the first quarter. Empowered Funds LLC now owns 19,306 shares of the game software company’s stock worth $2,790,000 after purchasing an additional 12,076 shares during the last quarter. Geneos Wealth Management Inc. increased its position in shares of Electronic Arts by 150.8% during the first quarter. Geneos Wealth Management Inc. now owns 316 shares of the game software company’s stock worth $46,000 after purchasing an additional 190 shares in the last quarter. Jump Financial LLC acquired a new stake in shares of Electronic Arts during the second quarter worth about $2,323,000. Finally, NewEdge Advisors LLC lifted its holdings in shares of Electronic Arts by 96.4% in the 2nd quarter. NewEdge Advisors LLC now owns 3,067 shares of the game software company’s stock valued at $490,000 after purchasing an additional 1,505 shares during the last quarter. 90.23% of the stock is currently owned by hedge funds and other institutional investors.

Electronic Arts Stock Performance

NASDAQ:EA opened at $209.70 on Friday. The firm has a market cap of $52.93 billion, a P/E ratio of 49.23 and a beta of 0.64. The company has a current ratio of 1.21, a quick ratio of 1.05 and a debt-to-equity ratio of 0.21. The stock’s 50 day simple moving average is $207.82 and its 200-day simple moving average is $203.86. Electronic Arts Inc. has a 12-month low of $159.10 and a 12-month high of $210.20.

Electronic Arts (NASDAQ:EA) last released its quarterly earnings results on Monday, August 3rd. The game software company reported $1.58 EPS for the quarter. Electronic Arts had a return on equity of 22.45% and a net margin of 13.80%.The business had revenue of $1.99 billion during the quarter.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on EA shares. Wall Street Zen upgraded Electronic Arts to a “hold” rating in a research note on Saturday, June 6th. Argus cut Electronic Arts from a “buy” rating to a “hold” rating in a research note on Thursday, May 28th. Weiss Ratings raised Electronic Arts from a “hold (c)” rating to a “hold (c+)” rating in a report on Monday, May 18th. Zacks Research lowered shares of Electronic Arts from a “hold” rating to a “strong sell” rating in a research report on Monday, July 13th. Finally, Citigroup lifted their target price on shares of Electronic Arts from $202.00 to $204.00 and gave the company a “neutral” rating in a report on Thursday, May 7th. One equities research analyst has rated the stock with a Buy rating, thirteen have issued a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Reduce” and an average target price of $206.50.

Insider Buying and Selling at Electronic Arts

In other Electronic Arts news, insider Laura Miele sold 2,500 shares of the company’s stock in a transaction on Monday, June 15th. The shares were sold at an average price of $203.10, for a total transaction of $507,750.00. Following the completion of the transaction, the insider owned 73,513 shares in the company, valued at approximately $14,930,490.30. This represents a 3.29% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Vijayanthimala Singh sold 1,200 shares of the firm’s stock in a transaction 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 sale, the insider owned 26,360 shares of the company’s stock, valued at $5,351,080. This trade represents a 4.35% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders have sold 8,700 shares of company stock valued at $1,766,950. 0.24% of the stock is owned by company insiders.

Electronic Arts Profile

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.