Daiichi Life Insurance Co. Ltd. Buys New Shares in Electronic Arts Inc. $EA

Daiichi Life Insurance Co. Ltd. bought a new position in shares of Electronic Arts Inc. (NASDAQ:EA) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 39,785 shares of the game software company’s stock, valued at approximately $8,158,000.

A number of other hedge funds have also recently added to or reduced their stakes in the business. Ascentis Independent Advisors purchased a new stake in Electronic Arts in the 1st quarter valued at about $27,000. Torren Management LLC lifted its holdings in shares of Electronic Arts by 235.0% during the 2nd quarter. Torren Management LLC now owns 134 shares of the game software company’s stock worth $27,000 after acquiring an additional 94 shares during the period. MV Capital Management Inc. purchased a new position in shares of Electronic Arts during the 4th quarter worth about $28,000. Meeder Asset Management Inc. acquired a new stake in shares of Electronic Arts in the second quarter worth approximately $31,000. Finally, Asset Planning Inc acquired a new stake in shares of Electronic Arts in the first quarter worth approximately $32,000. 90.23% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages recently commented on EA. Zacks Research lowered shares of Electronic Arts from a “hold” rating to a “strong sell” rating in a research report on Monday, July 13th. Citigroup increased 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. Weiss Ratings raised shares of Electronic Arts from a “hold (c)” rating to a “hold (c+)” rating in a research note on Monday, May 18th. Argus cut shares of Electronic Arts from a “buy” rating to a “hold” rating in a research note on Thursday, May 28th. Finally, Wall Street Zen upgraded Electronic Arts to a “hold” rating in a report on Saturday, June 6th. One equities research analyst has rated the stock with a Buy rating, thirteen have assigned a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, Electronic Arts has an average rating of “Reduce” and a consensus target price of $206.50.

Insiders Place Their Bets

In other news, insider Vijayanthimala Singh sold 1,200 shares of the firm’s stock in a transaction on Monday, June 15th. The shares were sold at an average price of $203.00, for a total value of $243,600.00. Following the transaction, the insider owned 26,360 shares of the company’s stock, valued at approximately $5,351,080. This trade represents a 4.35% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Andrew Wilson sold 5,000 shares of the company’s stock in a transaction on Monday, June 15th. The stock was sold at an average price of $203.12, for a total transaction of $1,015,600.00. Following the sale, the chief executive officer directly owned 80,974 shares of the company’s stock, valued at approximately $16,447,438.88. This trade represents a 5.82% decrease in their ownership of the stock. 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 sold a total of 8,700 shares of company stock worth $1,766,950 over the last ninety days. 0.24% of the stock is owned by company insiders.

Electronic Arts Stock Performance

NASDAQ EA opened at $209.70 on Friday. 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 1-year low of $159.10 and a 1-year high of $210.20. The firm has a market capitalization of $52.93 billion, a P/E ratio of 49.23 and a beta of 0.64. The business’s 50-day simple moving average is $207.27 and its 200-day simple moving average is $203.56.

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

Electronic Arts Company 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.