Victory Capital Management Inc. Cuts Position in Electronic Arts Inc. (NASDAQ:EA)

Victory Capital Management Inc. reduced its holdings in shares of Electronic Arts Inc. (NASDAQ:EA) by 26.0% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 231,431 shares of the game software company’s stock after selling 81,166 shares during the quarter. Victory Capital Management Inc. owned approximately 0.09% of Electronic Arts worth $33,196,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of the business. Vanguard Group Inc. grew its position in shares of Electronic Arts by 14.7% during the 1st quarter. Vanguard Group Inc. now owns 29,159,718 shares of the game software company’s stock valued at $3,868,620,000 after acquiring an additional 3,727,251 shares during the period. Price T Rowe Associates Inc. MD grew its holdings in Electronic Arts by 496.9% during the first quarter. Price T Rowe Associates Inc. MD now owns 2,511,250 shares of the game software company’s stock valued at $333,169,000 after purchasing an additional 2,090,504 shares during the period. Swedbank AB bought a new position in Electronic Arts during the first quarter valued at $201,935,000. Jericho Capital Asset Management L.P. bought a new stake in shares of Electronic Arts in the first quarter valued at $189,055,000. Finally, Manning & Napier Advisors LLC purchased a new position in shares of Electronic Arts during the 2nd quarter valued at $188,159,000. Hedge funds and other institutional investors own 90.23% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the company. Roth Mkm lifted their price objective on Electronic Arts from $154.00 to $158.00 and gave the stock a “neutral” rating in a report on Wednesday, October 30th. The Goldman Sachs Group boosted their price target on shares of Electronic Arts from $139.00 to $150.00 and gave the company a “neutral” rating in a research report on Wednesday, July 31st. JPMorgan Chase & Co. cut their price objective on shares of Electronic Arts from $155.00 to $150.00 and set a “neutral” rating for the company in a report on Wednesday, October 30th. BMO Capital Markets restated an “outperform” rating and set a $160.00 target price (up previously from $154.00) on shares of Electronic Arts in a research report on Wednesday, October 30th. Finally, Morgan Stanley reiterated an “equal weight” rating and set a $150.00 price objective on shares of Electronic Arts in a research note on Wednesday, September 18th. Eight equities research analysts have rated the stock with a hold rating, twelve have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $165.37.

Electronic Arts Stock Performance

NASDAQ EA opened at $161.36 on Friday. Electronic Arts Inc. has a 52-week low of $124.92 and a 52-week high of $164.42. The company has a fifty day moving average of $147.17 and a 200-day moving average of $142.55. The company has a market capitalization of $42.32 billion, a P/E ratio of 41.48, a P/E/G ratio of 2.13 and a beta of 0.78. The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.43 and a current ratio of 1.43.

Electronic Arts Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 18th. Stockholders of record on Wednesday, November 27th will be issued a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a dividend yield of 0.47%. The ex-dividend date of this dividend is Wednesday, November 27th. Electronic Arts’s payout ratio is currently 19.54%.

Insider Activity

In other news, CFO Stuart Canfield sold 1,260 shares of the business’s stock in a transaction dated Monday, August 19th. The stock was sold at an average price of $148.37, for a total value of $186,946.20. Following the completion of the sale, the chief financial officer now owns 7,553 shares of the company’s stock, valued at approximately $1,120,638.61. The trade was a 14.30 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Andrew Wilson sold 2,500 shares of the firm’s stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $148.88, for a total value of $372,200.00. Following the transaction, the chief executive officer now owns 56,747 shares in the company, valued at approximately $8,448,493.36. The trade was a 4.22 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 26,144 shares of company stock worth $3,886,282. 0.22% of the stock is currently owned by insiders.

Electronic Arts 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.