Waverly Advisors LLC Trims Stake in Electronic Arts Inc. $EA

Waverly Advisors LLC trimmed its holdings in shares of Electronic Arts Inc. (NASDAQ:EA) by 9.1% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. 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 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of EA. Kryger Capital LLC acquired a new stake in Electronic Arts in the 1st quarter valued at approximately $103,619,000. Healthcare of Ontario Pension Plan Trust Fund lifted its stake in Electronic Arts by 121.6% during the 1st quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 372,273 shares of the game software company’s stock worth $75,895,000 after acquiring an additional 204,307 shares in the last quarter. Gabelli Funds LLC grew its position in Electronic Arts by 19.5% in the 1st quarter. Gabelli Funds LLC now owns 171,950 shares of the game software company’s stock valued at $35,055,000 after acquiring an additional 28,050 shares in the last quarter. GABELLI & Co INVESTMENT ADVISERS INC. increased its stake in Electronic Arts by 9.2% during the first quarter. GABELLI & Co INVESTMENT ADVISERS INC. now owns 137,950 shares of the game software company’s stock worth $28,124,000 after purchasing an additional 11,650 shares during the period. Finally, Compound Planning Inc. grew its holdings in shares of Electronic Arts by 8.1% in the first quarter. Compound Planning Inc. now owns 3,671 shares of the game software company’s stock valued at $748,000 after purchasing an additional 274 shares in the last quarter. Hedge funds and other institutional investors own 90.23% of the company’s stock.

Electronic Arts Stock Up 0.0%

EA opened at $209.07 on Tuesday. The business’s fifty day simple moving average is $204.41 and its 200 day simple moving average is $202.83. Electronic Arts Inc. has a 52 week low of $146.97 and a 52 week high of $209.34. The firm has a market cap of $52.42 billion, a P/E ratio of 59.91, a PEG ratio of 2.34 and a beta of 0.64. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 0.22.

Electronic Arts Dividend Announcement

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

Insider Buying and Selling

In other Electronic Arts news, CFO Stuart Canfield sold 1,500 shares of the stock in a transaction that occurred on Wednesday, May 20th. The shares were sold at an average price of $201.36, for a total value of $302,040.00. Following the completion of the sale, the chief financial officer owned 25,991 shares of the company’s stock, valued at $5,233,547.76. This trade represents a 5.46% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 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 that occurred on Monday, June 15th. The shares were sold at an average price of $203.00, for a total transaction of $243,600.00. Following the sale, the insider owned 26,360 shares in the company, valued at $5,351,080. This represents a 4.35% decrease in their position. The disclosure for this sale is available in the SEC filing. 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 valued at $6,292,058. 0.24% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on EA shares. Wall Street Zen raised Electronic Arts to a “hold” rating in a research report on Saturday, June 6th. Argus downgraded shares of Electronic Arts from a “buy” rating to a “hold” rating in a research report on Thursday, May 28th. Weiss Ratings upgraded Electronic Arts from a “hold (c)” rating to a “hold (c+)” rating in a research note on Monday, May 18th. Zacks Research cut Electronic Arts from a “hold” rating to a “strong sell” rating in a research report on Monday, July 13th. Finally, Citigroup upped their price target on Electronic Arts from $202.00 to $204.00 and gave the company a “neutral” rating in a report on Thursday, May 7th. Two equities research analysts have rated the stock with a Buy rating, fifteen have issued a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $198.85.

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.