Gabelli Funds LLC Has $35.05 Million Stake in Electronic Arts Inc. $EA

Gabelli Funds LLC lifted its position in shares of Electronic Arts Inc. (NASDAQ:EA) by 19.5% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 171,950 shares of the game software company’s stock after purchasing an additional 28,050 shares during the period. Gabelli Funds LLC owned about 0.07% of Electronic Arts worth $35,055,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its stake in shares of Electronic Arts by 1.7% in the fourth quarter. Vanguard Group Inc. now owns 28,773,086 shares of the game software company’s stock worth $5,879,205,000 after acquiring an additional 485,030 shares during the period. Pentwater Capital Management LP grew its holdings in Electronic Arts by 128.1% during the 4th quarter. Pentwater Capital Management LP now owns 10,950,000 shares of the game software company’s stock worth $2,237,414,000 after acquiring an additional 6,150,000 shares during the period. Geode Capital Management LLC boosted its position in shares of Electronic Arts by 2.2% during the 4th quarter. Geode Capital Management LLC now owns 6,764,572 shares of the game software company’s stock valued at $1,382,030,000 after purchasing an additional 143,195 shares in the last quarter. Invesco Ltd. grew its stake in Electronic Arts by 4.9% during the third quarter. Invesco Ltd. now owns 4,314,962 shares of the game software company’s stock worth $870,328,000 after purchasing an additional 202,657 shares during the period. Finally, Ameriprise Financial Inc. grew its stake in Electronic Arts by 44.6% during the second quarter. Ameriprise Financial Inc. now owns 4,217,029 shares of the game software company’s stock worth $673,393,000 after purchasing an additional 1,300,336 shares during the period. 90.23% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, CEO Andrew Wilson sold 5,066 shares of the stock in a transaction on Thursday, May 21st. The stock was sold at an average price of $201.66, for a total transaction of $1,021,609.56. Following the completion of the transaction, the chief executive officer owned 85,974 shares in the company, valued at approximately $17,337,516.84. This represents a 5.56% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Vijayanthimala Singh sold 1,200 shares of Electronic Arts stock in a transaction dated Monday, June 15th. The stock was sold at an average price of $203.00, for a total value of $243,600.00. Following the completion of the sale, the insider directly 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. 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. Over the last three months, insiders have sold 31,206 shares of company stock worth $6,292,058. 0.24% of the stock is owned by company insiders.

Electronic Arts Trading Up 0.0%

NASDAQ EA opened at $209.08 on Friday. Electronic Arts Inc. has a one year low of $146.97 and a one year high of $209.34. The business’s fifty day moving average is $204.25 and its 200-day moving average is $202.80. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.05 and a quick ratio of 1.05. The stock has a market capitalization of $52.43 billion, a price-to-earnings ratio of 59.91, a PEG ratio of 2.34 and a beta of 0.64.

Electronic Arts Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, June 17th. Investors of record on Wednesday, May 27th were paid a $0.19 dividend. The ex-dividend date was Wednesday, May 27th. This represents a $0.76 annualized dividend and a yield of 0.4%. Electronic Arts’s dividend payout ratio is presently 21.78%.

Analysts Set New Price Targets

Several brokerages recently issued reports on EA. 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. Zacks Research downgraded Electronic Arts from a “hold” rating to a “strong sell” rating in a report on Monday, July 13th. Argus downgraded shares of Electronic Arts from a “buy” rating to a “hold” rating in a report on Thursday, May 28th. Citigroup boosted their target price on shares of Electronic Arts from $202.00 to $204.00 and gave the stock a “neutral” rating in a research report on Thursday, May 7th. Finally, Wall Street Zen upgraded shares of Electronic Arts to a “hold” rating in a report on Saturday, June 6th. Two analysts have rated the stock with a Buy rating, sixteen have issued a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, Electronic Arts presently has an average rating of “Hold” and an average target price of $196.64.

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.