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

Daiichi Life Insurance Co. Ltd. purchased a new position in shares of Electronic Arts Inc. (NASDAQ:EA) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 39,785 shares of the game software company’s stock, valued at approximately $8,158,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of EA. Ascentis Independent Advisors acquired a new stake in Electronic Arts in the first quarter valued at approximately $27,000. Torren Management LLC raised its stake in shares of Electronic Arts by 235.0% during the second quarter. Torren Management LLC now owns 134 shares of the game software company’s stock valued at $27,000 after purchasing an additional 94 shares during the period. MV Capital Management Inc. acquired a new position in shares of Electronic Arts during the fourth quarter worth $28,000. Meeder Asset Management Inc. acquired a new position in shares of Electronic Arts during the second quarter worth $31,000. Finally, Asset Planning Inc purchased a new position in shares of Electronic Arts in the first quarter valued at $32,000. Hedge funds and other institutional investors own 90.23% of the company’s stock.

Electronic Arts Stock Performance

Electronic Arts stock opened at $209.70 on Friday. The stock 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 has a 50 day moving average of $207.27 and a 200-day moving average of $203.56. Electronic Arts Inc. has a 52 week low of $159.10 and a 52 week 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 earnings per share for the quarter. The business had revenue of $1.99 billion during the quarter. Electronic Arts had a net margin of 13.80% and a return on equity of 22.45%.

Wall Street Analysts Forecast Growth

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

Insider Buying and Selling at Electronic Arts

In other Electronic Arts news, CEO Andrew Wilson sold 5,000 shares of the firm’s stock in a transaction on Monday, June 15th. The shares were sold at an average price of $203.12, for a total transaction of $1,015,600.00. Following the completion of the transaction, the chief executive officer directly owned 80,974 shares of the company’s stock, valued at $16,447,438.88. This trade represents a 5.82% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Laura Miele sold 2,500 shares of the business’s stock in a transaction dated Monday, June 15th. The stock was sold at an average price of $203.10, for a total transaction of $507,750.00. Following the completion of the sale, the insider directly owned 73,513 shares of the company’s stock, valued at $14,930,490.30. The trade was a 3.29% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 8,700 shares of company stock worth $1,766,950 in the last ninety days. 0.24% of the stock is owned by 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.