Gallacher Capital Management LLC Buys Shares of 3,215 Electronic Arts Inc. $EA

Gallacher Capital Management LLC purchased a new position in Electronic Arts Inc. (NASDAQ:EAFree Report) in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 3,215 shares of the game software company’s stock, valued at approximately $655,000.

Several other large investors also recently made changes to their positions in EA. Ascentis Independent Advisors bought a new position in shares of Electronic Arts in the 1st quarter valued at approximately $27,000. MV Capital Management Inc. bought a new stake in Electronic Arts during the fourth quarter worth approximately $28,000. Asset Planning Inc bought a new stake in Electronic Arts during the first quarter worth approximately $32,000. Whipplewood Advisors LLC acquired a new position in Electronic Arts during the first quarter valued at approximately $32,000. Finally, Fideuram Asset Management Ireland dac acquired a new position in Electronic Arts during the fourth quarter valued at approximately $44,000. Institutional investors own 90.23% of the company’s stock.

Insider Buying and Selling at Electronic Arts

In related news, CFO Stuart Canfield sold 1,500 shares of the business’s stock in a transaction on Wednesday, May 20th. The stock was sold at an average price of $201.36, for a total value of $302,040.00. Following the sale, 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available 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, EVP Jacob J. Schatz sold 5,000 shares of the stock in a transaction on Wednesday, May 20th. The stock was sold at an average price of $201.19, for a total value of $1,005,950.00. Following the transaction, 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 disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold 31,206 shares of company stock worth $6,292,058 over the last three months. 0.24% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on EA. Citigroup boosted their price objective on shares of Electronic Arts from $202.00 to $204.00 and gave the stock a “neutral” rating in a research note on Thursday, May 7th. Argus lowered shares of Electronic Arts from a “buy” rating to a “hold” rating in a research note on Thursday, May 28th. Wall Street Zen upgraded shares of Electronic Arts to a “hold” rating in a report on Saturday, June 6th. 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, Zacks Research cut shares of Electronic Arts from a “hold” rating to a “strong sell” rating in a report on Monday. Two equities research analysts have rated the stock with a Buy rating, sixteen have given a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $196.64.

Read Our Latest Report on Electronic Arts

Electronic Arts Stock Performance

NASDAQ EA opened at $207.84 on Friday. Electronic Arts Inc. has a twelve month low of $146.97 and a twelve month high of $207.86. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 0.22. The stock has a market cap of $52.12 billion, a P/E ratio of 59.55, a PEG ratio of 2.32 and a beta of 0.64. The company’s 50-day simple moving average is $203.21 and its 200 day simple moving average is $202.59.

Electronic Arts Dividend Announcement

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

About Electronic Arts

(Free Report)

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.

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Institutional Ownership by Quarter for Electronic Arts (NASDAQ:EA)

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