Electronic Arts Inc. (NASDAQ:EA) Shares Sold by Manning & Napier Advisors LLC

Manning & Napier Advisors LLC reduced its holdings in Electronic Arts Inc. (NASDAQ:EA - Free Report) by 99.8% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,567 shares of the game software company's stock after selling 877,811 shares during the period. Manning & Napier Advisors LLC's holdings in Electronic Arts were worth $226,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. Assenagon Asset Management S.A. grew its holdings in Electronic Arts by 689.3% during the first quarter. Assenagon Asset Management S.A. now owns 1,238,496 shares of the game software company's stock worth $178,987,000 after acquiring an additional 1,081,589 shares during the period. Los Angeles Capital Management LLC lifted its holdings in Electronic Arts by 353.4% in the fourth quarter. Los Angeles Capital Management LLC now owns 1,269,258 shares of the game software company's stock valued at $185,692,000 after acquiring an additional 989,319 shares during the period. FMR LLC boosted its position in Electronic Arts by 224.8% in the 4th quarter. FMR LLC now owns 1,207,854 shares of the game software company's stock worth $176,709,000 after purchasing an additional 835,985 shares in the last quarter. Royal Bank of Canada grew its stake in shares of Electronic Arts by 130.0% during the 4th quarter. Royal Bank of Canada now owns 1,201,353 shares of the game software company's stock worth $175,758,000 after purchasing an additional 679,032 shares during the period. Finally, GAMMA Investing LLC grew its stake in shares of Electronic Arts by 11,587.9% during the 1st quarter. GAMMA Investing LLC now owns 669,367 shares of the game software company's stock worth $96,737,000 after purchasing an additional 663,640 shares during the period. Institutional investors and hedge funds own 90.23% of the company's stock.

Electronic Arts Trading Up 2.6%

Shares of EA stock opened at $154.41 on Tuesday. Electronic Arts Inc. has a fifty-two week low of $115.21 and a fifty-two week high of $168.50. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.95 and a current ratio of 0.95. The stock's fifty day moving average is $148.37 and its two-hundred day moving average is $142.39. The firm has a market capitalization of $38.72 billion, a P/E ratio of 36.42, a PEG ratio of 2.07 and a beta of 0.71.

Electronic Arts Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, June 18th. Stockholders of record on Wednesday, May 28th were paid a $0.19 dividend. This represents a $0.76 annualized dividend and a dividend yield of 0.49%. The ex-dividend date of this dividend was Wednesday, May 28th. Electronic Arts's dividend payout ratio is currently 17.92%.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on EA. Hsbc Global Res upgraded shares of Electronic Arts from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, May 7th. Morgan Stanley lifted their price objective on shares of Electronic Arts from $135.00 to $148.00 and gave the company an "equal weight" rating in a report on Wednesday, May 7th. The Goldman Sachs Group increased their target price on shares of Electronic Arts from $135.00 to $155.00 and gave the stock a "neutral" rating in a research note on Thursday, May 8th. UBS Group raised their target price on Electronic Arts from $152.00 to $167.00 and gave the company a "neutral" rating in a research report on Wednesday, May 7th. Finally, HSBC upgraded Electronic Arts from a "hold" rating to a "buy" rating and set a $190.00 price target for the company in a research note on Wednesday, May 7th. Fifteen analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of $161.88.

Insider Buying and Selling

In other Electronic Arts news, insider Vijayanthimala Singh sold 1,000 shares of the company's stock in a transaction on Tuesday, April 1st. The stock was sold at an average price of $145.00, for a total value of $145,000.00. Following the completion of the sale, the insider now directly owns 26,216 shares in the company, valued at $3,801,320. This represents a 3.67% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Andrew Wilson sold 5,000 shares of the firm's stock in a transaction on Friday, June 20th. The stock was sold at an average price of $150.64, for a total value of $753,200.00. Following the completion of the sale, the chief executive officer now directly owns 62,393 shares of the company's stock, valued at $9,398,881.52. This trade represents a 7.42% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 29,229 shares of company stock worth $4,371,399. 0.22% of the stock is owned by insiders.

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. 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.

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