Manning & Napier Advisors LLC Cuts Stake in Electronic Arts Inc. (NASDAQ:EA)

Manning & Napier Advisors LLC cut its holdings in shares of Electronic Arts Inc. (NASDAQ:EA) by 12.3% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 879,378 shares of the game software company’s stock after selling 122,907 shares during the quarter. Electronic Arts comprises approximately 1.5% of Manning & Napier Advisors LLC’s portfolio, making the stock its 22nd largest holding. Manning & Napier Advisors LLC’s holdings in Electronic Arts were worth $128,653,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently modified their holdings of the business. Ashton Thomas Securities LLC purchased a new position in Electronic Arts in the third quarter worth about $25,000. Pinnacle Bancorp Inc. boosted its position in Electronic Arts by 141.0% in the fourth quarter. Pinnacle Bancorp Inc. now owns 200 shares of the game software company’s stock worth $29,000 after purchasing an additional 117 shares during the last quarter. Reston Wealth Management LLC purchased a new position in Electronic Arts in the third quarter worth about $36,000. Bruce G. Allen Investments LLC boosted its position in Electronic Arts by 156.6% in the third quarter. Bruce G. Allen Investments LLC now owns 272 shares of the game software company’s stock worth $39,000 after purchasing an additional 166 shares during the last quarter. Finally, Larson Financial Group LLC boosted its position in Electronic Arts by 31.8% in the third quarter. Larson Financial Group LLC now owns 290 shares of the game software company’s stock worth $42,000 after purchasing an additional 70 shares during the last quarter. 90.23% of the stock is owned by hedge funds and other institutional investors.

Electronic Arts Price Performance

NASDAQ EA traded up $1.03 during trading on Wednesday, hitting $117.56. 333,505 shares of the stock traded hands, compared to its average volume of 3,697,283. The company has a market capitalization of $30.83 billion, a P/E ratio of 30.15, a price-to-earnings-growth ratio of 1.87 and a beta of 0.80. The company has a quick ratio of 1.43, a current ratio of 1.43 and a debt-to-equity ratio of 0.25. The firm has a 50-day simple moving average of $150.52 and a 200-day simple moving average of $148.52. Electronic Arts Inc. has a 12-month low of $115.21 and a 12-month high of $168.50.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on EA. StockNews.com raised Electronic Arts from a “buy” rating to a “strong-buy” rating in a research note on Thursday, October 31st. Roth Mkm decreased their price objective on Electronic Arts from $158.00 to $134.00 and set a “neutral” rating on the stock in a research note on Thursday, January 23rd. Raymond James downgraded Electronic Arts from an “outperform” rating to a “market perform” rating in a research note on Thursday, January 23rd. Oppenheimer decreased their price objective on Electronic Arts from $170.00 to $165.00 and set an “outperform” rating on the stock in a research note on Tuesday, January 21st. Finally, Argus raised their price objective on Electronic Arts from $161.00 to $183.00 and gave the stock a “buy” rating in a research note on Thursday, November 7th. Twelve equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Electronic Arts has an average rating of “Hold” and an average price target of $158.05.

Insider Buying and Selling at Electronic Arts

In other Electronic Arts news, EVP Jacob J. Schatz sold 1,500 shares of the stock in a transaction dated Wednesday, January 15th. The stock was sold at an average price of $143.45, for a total value of $215,175.00. Following the completion of the sale, the executive vice president now directly owns 23,386 shares in the company, valued at approximately $3,354,721.70. This trade represents a 6.03 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Andrew Wilson sold 5,000 shares of the stock in a transaction dated Wednesday, November 20th. The shares were sold at an average price of $166.47, for a total value of $832,350.00. Following the completion of the transaction, the chief executive officer now directly owns 52,615 shares in the company, valued at $8,758,819.05. This represents a 8.68 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 26,000 shares of company stock valued at $3,986,385 in the last quarter. 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.