Waverly Advisors LLC Sells 10,662 Shares of Electronic Arts Inc. $EA

Waverly Advisors LLC trimmed its holdings in Electronic Arts Inc. (NASDAQ:EA) by 24.9% in the 2nd quarter, Holdings Channel.com reports. The institutional investor 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.

A number of other hedge funds have also bought and sold shares of EA. Brighton Jones LLC boosted its holdings in shares of Electronic Arts by 9.4% during the 4th quarter. Brighton Jones LLC now owns 3,420 shares of the game software company’s stock valued at $500,000 after acquiring an additional 294 shares during the last quarter. Empowered Funds LLC raised its holdings in shares of Electronic Arts by 167.0% during the first quarter. Empowered Funds LLC now owns 19,306 shares of the game software company’s stock valued at $2,790,000 after purchasing an additional 12,076 shares during the last quarter. Geneos Wealth Management Inc. lifted its position in Electronic Arts by 150.8% during the first quarter. Geneos Wealth Management Inc. now owns 316 shares of the game software company’s stock valued at $46,000 after purchasing an additional 190 shares during the period. Jump Financial LLC purchased a new stake in Electronic Arts in the second quarter worth approximately $2,323,000. Finally, NewEdge Advisors LLC boosted its holdings in Electronic Arts by 96.4% in the second quarter. NewEdge Advisors LLC now owns 3,067 shares of the game software company’s stock worth $490,000 after purchasing an additional 1,505 shares during the last quarter. Hedge funds and other institutional investors own 90.23% of the company’s stock.

Electronic Arts Price Performance

EA stock opened at $209.70 on Friday. The business’s 50-day moving average price is $208.88 and its 200-day moving average price is $204.49. The stock has a market cap of $52.93 billion, a P/E ratio of 49.23 and a beta of 0.64. The company has a quick ratio of 1.05, a current ratio of 1.21 and a debt-to-equity ratio of 0.21. Electronic Arts Inc. has a twelve month low of $159.10 and a twelve month high of $210.20.

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

Insider Transactions at Electronic Arts

In other news, insider Laura Miele sold 2,500 shares of the firm’s stock in a transaction on Monday, June 15th. The shares were sold at an average price of $203.10, for a total transaction of $507,750.00. Following the sale, the insider directly owned 73,513 shares in the company, valued at $14,930,490.30. This trade represents a 3.29% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Andrew Wilson sold 5,000 shares of Electronic Arts stock in a transaction on Monday, June 15th. The shares were sold at an average price of $203.12, for a total transaction of $1,015,600.00. Following the transaction, the chief executive officer owned 80,974 shares in the company, valued at approximately $16,447,438.88. This trade represents a 5.82% 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. Insiders sold a total of 8,700 shares of company stock valued at $1,766,950 over the last three months. Corporate insiders own 0.24% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on EA shares. Argus lowered shares of Electronic Arts from a “buy” rating to a “hold” rating in a research note on Thursday, May 28th. Zacks Research lowered Electronic Arts from a “hold” rating to a “strong sell” rating in a report on Monday, July 13th. Weiss Ratings upgraded Electronic Arts from a “hold (c)” rating to a “hold (c+)” rating in a research report on Monday, May 18th. Finally, Wall Street Zen raised Electronic Arts to a “hold” rating in a report on Saturday, June 6th. One investment 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 data from MarketBeat, Electronic Arts presently has a consensus rating of “Reduce” and a consensus target price of $206.50.

About Electronic Arts

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.