Electronic Arts Inc. $EA Shares Sold by Waverly Advisors LLC

Waverly Advisors LLC reduced its stake in shares of Electronic Arts Inc. (NASDAQ:EA) by 9.1% in the 1st quarter, Holdings Channel.com reports. The fund owned 42,885 shares of the game software company’s stock after selling 4,288 shares during the quarter. Waverly Advisors LLC’s holdings in Electronic Arts were worth $8,743,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of EA. Resona Asset Management Co. Ltd. grew its position in shares of Electronic Arts by 12.5% during the 1st quarter. Resona Asset Management Co. Ltd. now owns 108,908 shares of the game software company’s stock valued at $22,185,000 after buying an additional 12,095 shares during the last quarter. Nisa Investment Advisors LLC lifted its stake in shares of Electronic Arts by 9.2% in the 4th quarter. Nisa Investment Advisors LLC now owns 110,851 shares of the game software company’s stock worth $22,650,000 after acquiring an additional 9,297 shares during the period. Swiss National Bank increased its stake in shares of Electronic Arts by 8.0% during the first quarter. Swiss National Bank now owns 704,400 shares of the game software company’s stock valued at $143,606,000 after acquiring an additional 51,900 shares during the period. OFI Invest Asset Management acquired a new stake in Electronic Arts in the fourth quarter worth approximately $8,745,000. Finally, Tokio Marine Asset Management Co. Ltd. boosted its stake in Electronic Arts by 500.3% during the 4th quarter. Tokio Marine Asset Management Co. Ltd. now owns 47,805 shares of the game software company’s stock valued at $9,768,000 after purchasing an additional 39,841 shares in the last quarter. 90.23% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

EA has been the subject of several recent analyst reports. Argus cut shares of Electronic Arts from a “buy” rating to a “hold” rating in a report on Thursday, May 28th. Wall Street Zen raised Electronic Arts to a “hold” rating in a research note on Saturday, June 6th. Zacks Research lowered shares of Electronic Arts from a “hold” rating to a “strong sell” rating in a research report on Monday, July 13th. Weiss Ratings raised shares of Electronic Arts from a “hold (c)” rating to a “hold (c+)” rating in a research report on Monday, May 18th. Finally, Citigroup lifted their price objective on shares of Electronic Arts from $202.00 to $204.00 and gave the company a “neutral” rating in a research note on Thursday, May 7th. Two research analysts have rated the stock with a Buy rating, fifteen have assigned a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $198.85.

Electronic Arts Stock Up 0.0%

NASDAQ EA opened at $209.07 on Tuesday. The stock has a market capitalization of $52.42 billion, a P/E ratio of 59.91, a price-to-earnings-growth ratio of 2.34 and a beta of 0.64. Electronic Arts Inc. has a 52 week low of $146.97 and a 52 week high of $209.34. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.05 and a current ratio of 1.05. The stock has a fifty day moving average of $204.41 and a 200-day moving average of $202.83.

Electronic Arts Announces Dividend

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

Insider Activity at Electronic Arts

In other news, EVP Jacob J. Schatz sold 5,000 shares of the stock in a transaction on Wednesday, May 20th. The shares were sold at an average price of $201.19, for a total transaction of $1,005,950.00. Following the completion of the sale, the executive vice president owned 42,287 shares of the company’s stock, valued at $8,507,721.53. This represents a 10.57% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO Stuart Canfield sold 1,500 shares of the stock in a transaction on Wednesday, May 20th. The stock was sold at an average price of $201.36, for a total transaction of $302,040.00. Following the transaction, the chief financial officer owned 25,991 shares of the company’s stock, valued at $5,233,547.76. The trade was a 5.46% 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. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold a total of 31,206 shares of company stock valued at $6,292,058 over the last 90 days. Insiders own 0.24% of the company’s stock.

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.