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

Waverly Advisors LLC lowered its holdings in shares of Electronic Arts Inc. (NASDAQ:EA) by 24.9% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 32,223 shares of the game software company’s stock after selling 10,662 shares during the period. Waverly Advisors LLC’s holdings in Electronic Arts were worth $6,607,000 as of its most recent filing with the SEC.

Other hedge funds have also added to or reduced their stakes in the company. Nykredit A S bought a new stake in Electronic Arts in the second quarter worth $14,230,000. Amundi grew its stake in shares of Electronic Arts by 39.0% during the second quarter. Amundi now owns 1,934,012 shares of the game software company’s stock valued at $396,550,000 after buying an additional 542,861 shares during the last quarter. California State Teachers Retirement System increased its holdings in shares of Electronic Arts by 19,439.0% in the second quarter. California State Teachers Retirement System now owns 74,736,875 shares of the game software company’s stock worth $15,324,049,000 after buying an additional 74,354,374 shares during the period. Wedmont Private Capital lifted its stake in shares of Electronic Arts by 24.0% in the 2nd quarter. Wedmont Private Capital now owns 3,671 shares of the game software company’s stock valued at $758,000 after acquiring an additional 711 shares during the last quarter. Finally, HB Wealth Management LLC boosted its holdings in Electronic Arts by 1.9% during the 2nd quarter. HB Wealth Management LLC now owns 7,134 shares of the game software company’s stock valued at $1,463,000 after acquiring an additional 134 shares during the period. 90.23% of the stock is owned by institutional investors.

Analysts Set New Price Targets

EA has been the subject of a number of recent analyst reports. Weiss Ratings upgraded shares of Electronic Arts from a “hold (c)” rating to a “hold (c+)” rating in a report on Monday, May 18th. Wall Street Zen raised shares of Electronic Arts to a “hold” rating in a research report on Saturday, June 6th. Zacks Research cut shares of Electronic Arts from a “hold” rating to a “strong sell” rating in a research report on Monday, July 13th. Finally, Argus cut shares of Electronic Arts from a “buy” rating to a “hold” rating in a research report on Thursday, May 28th. One research analyst has rated the stock with a Buy rating, thirteen have given a Hold rating and two have given a Sell rating to the company. According to MarketBeat, Electronic Arts has an average rating of “Reduce” and a consensus price target of $206.50.

Insider Transactions at Electronic Arts

In other news, insider Vijayanthimala Singh sold 1,200 shares of the firm’s stock in a transaction on Monday, June 15th. The stock was sold at an average price of $203.00, for a total transaction of $243,600.00. Following the completion of the transaction, the insider directly owned 26,360 shares in the company, valued at $5,351,080. This trade represents a 4.35% 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. Also, insider Laura Miele sold 2,500 shares of Electronic Arts stock in a transaction dated Monday, June 15th. The stock was sold at an average price of $203.10, for a total value of $507,750.00. Following the completion of the transaction, the insider directly owned 73,513 shares of the company’s stock, valued at approximately $14,930,490.30. This represents a 3.29% 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 8,700 shares of company stock valued at $1,766,950. Insiders own 0.24% of the company’s stock.

Electronic Arts Price Performance

EA stock opened at $209.70 on Friday. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.05 and a current ratio of 1.21. The firm has a 50 day moving average price of $208.88 and a 200-day moving average price of $204.49. Electronic Arts Inc. has a 52-week low of $159.10 and a 52-week high of $210.20. The firm has a market capitalization of $52.93 billion, a price-to-earnings ratio of 49.23 and a beta of 0.64.

Electronic Arts (NASDAQ:EA) last posted its quarterly earnings results on Monday, August 3rd. The game software company reported $1.58 earnings per share for the quarter. Electronic Arts had a return on equity of 22.45% and a net margin of 13.80%.The company had revenue of $1.99 billion for the quarter.

Electronic Arts Profile

Electronic Arts Inc (NASDAQ:EA) is a global developer and publisher of interactive entertainment. The company creates and distributes games for consoles, personal computers, mobile devices and online platforms, with business activities spanning full-game sales, downloadable content, subscriptions and live services.

Electronic Arts’ portfolio includes sports franchises such as EA Sports FC, Madden NFL, College Football, NHL and UFC, as well as entertainment and action titles including The Sims, Battlefield, Apex Legends, Need for Speed and Plants vs.