Electronic Arts Inc. (NASDAQ:EA) Shares Sold by Burgundy Asset Management Ltd.

Burgundy Asset Management Ltd. lowered its stake in Electronic Arts Inc. (NASDAQ:EA) by 1.1% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,454,605 shares of the game software company’s stock after selling 15,970 shares during the period. Electronic Arts accounts for 2.1% of Burgundy Asset Management Ltd.’s holdings, making the stock its 10th largest holding. Burgundy Asset Management Ltd.’s holdings in Electronic Arts were worth $202,670,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of EA. Cullen Frost Bankers Inc. raised its holdings in Electronic Arts by 2.9% in the 2nd quarter. Cullen Frost Bankers Inc. now owns 2,828 shares of the game software company’s stock valued at $394,000 after buying an additional 79 shares during the last quarter. Grove Bank & Trust increased its holdings in Electronic Arts by 23.5% in the second quarter. Grove Bank & Trust now owns 494 shares of the game software company’s stock valued at $69,000 after purchasing an additional 94 shares during the period. B. Riley Wealth Advisors Inc. increased its holdings in Electronic Arts by 4.6% in the first quarter. B. Riley Wealth Advisors Inc. now owns 2,194 shares of the game software company’s stock valued at $291,000 after purchasing an additional 97 shares during the period. Claro Advisors LLC raised its position in Electronic Arts by 5.6% during the 1st quarter. Claro Advisors LLC now owns 1,881 shares of the game software company’s stock worth $250,000 after purchasing an additional 100 shares during the last quarter. Finally, Oregon Public Employees Retirement Fund lifted its holdings in Electronic Arts by 0.5% during the 2nd quarter. Oregon Public Employees Retirement Fund now owns 20,909 shares of the game software company’s stock worth $2,913,000 after buying an additional 100 shares during the period. Institutional investors own 90.23% of the company’s stock.

Insiders Place Their Bets

In related news, insider Vijayanthimala Singh sold 800 shares of the stock in a transaction on Monday, July 1st. The stock was sold at an average price of $139.71, for a total value of $111,768.00. Following the completion of the sale, the insider now directly owns 38,574 shares of the company’s stock, valued at approximately $5,389,173.54. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other news, EVP Jacob J. Schatz sold 1,500 shares of the business’s stock in a transaction that occurred on Wednesday, August 28th. The stock was sold at an average price of $149.32, for a total value of $223,980.00. Following the transaction, the executive vice president now owns 27,860 shares in the company, valued at approximately $4,160,055.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Vijayanthimala Singh sold 800 shares of the stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $139.71, for a total value of $111,768.00. Following the sale, the insider now directly owns 38,574 shares of the company’s stock, valued at $5,389,173.54. The disclosure for this sale can be found here. In the last ninety days, insiders sold 28,570 shares of company stock valued at $4,183,508. Corporate insiders own 0.22% of the company’s stock.

Wall Street Analyst Weigh In

EA has been the subject of several recent research reports. Morgan Stanley reissued an “equal weight” rating and issued a $150.00 price target on shares of Electronic Arts in a research note on Wednesday. Benchmark restated a “buy” rating and set a $163.00 price target on shares of Electronic Arts in a report on Wednesday. The Goldman Sachs Group upped their price objective on shares of Electronic Arts from $139.00 to $150.00 and gave the company a “neutral” rating in a research note on Wednesday, July 31st. Raymond James increased their price objective on shares of Electronic Arts from $155.00 to $170.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 31st. Finally, Stifel Nicolaus boosted their target price on shares of Electronic Arts from $165.00 to $167.00 and gave the company a “buy” rating in a report on Wednesday, July 31st. Nine research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $161.83.

Electronic Arts Price Performance

Shares of NASDAQ:EA opened at $140.45 on Thursday. Electronic Arts Inc. has a twelve month low of $117.47 and a twelve month high of $153.51. The stock’s 50 day moving average is $146.44 and its 200-day moving average is $137.66. The company has a quick ratio of 1.45, a current ratio of 1.45 and a debt-to-equity ratio of 0.25. The firm has a market capitalization of $37.32 billion, a price-to-earnings ratio of 30.01, a PEG ratio of 1.97 and a beta of 0.79.

Electronic Arts (NASDAQ:EA) last released its quarterly earnings data on Tuesday, July 30th. The game software company reported $0.09 earnings per share for the quarter, topping the consensus estimate of $0.03 by $0.06. Electronic Arts had a net margin of 15.77% and a return on equity of 16.34%. The firm had revenue of $1.26 billion for the quarter, compared to the consensus estimate of $1.21 billion. Sell-side analysts forecast that Electronic Arts Inc. will post 5.89 EPS for the current fiscal year.

Electronic Arts Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, September 18th. Shareholders of record on Wednesday, August 28th were paid a dividend of $0.19 per share. The ex-dividend date was Wednesday, August 28th. This represents a $0.76 dividend on an annualized basis and a yield of 0.54%. Electronic Arts’s dividend payout ratio (DPR) is currently 16.24%.

Electronic Arts Company Profile

Electronic Arts Inc develops, markets, publishes, and distributes games, content, and services for game consoles, PCs, mobile phones, and tablets worldwide. It develops and publishes games and services across various genres, such as sports, racing, first-person shooter, action, role-playing, and simulation primarily under the Battlefield, The Sims, Apex Legends, Need for Speed, and license games from others, including FIFA, Madden NFL, UFC, and Star Wars brands.