Victory Capital Management Inc. Has $23.38 Million Position in Electronic Arts Inc. (NASDAQ:EA)

Victory Capital Management Inc. raised its holdings in Electronic Arts Inc. (NASDAQ:EA – Get Rating) by 4.3% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 198,048 shares of the game software company’s stock after buying an additional 8,128 shares during the period. Victory Capital Management Inc. owned 0.07% of Electronic Arts worth $23,380,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. GYL Financial Synergies LLC grew its position in shares of Electronic Arts by 2.0% in the 4th quarter. GYL Financial Synergies LLC now owns 3,900 shares of the game software company’s stock valued at $514,000 after acquiring an additional 77 shares during the period. Bradley Foster & Sargent Inc. CT grew its position in shares of Electronic Arts by 2.1% in the 4th quarter. Bradley Foster & Sargent Inc. CT now owns 4,096 shares of the game software company’s stock valued at $540,000 after acquiring an additional 85 shares during the period. Family Legacy Inc. boosted its holdings in shares of Electronic Arts by 2.8% during the 1st quarter. Family Legacy Inc. now owns 3,171 shares of the game software company’s stock worth $401,000 after buying an additional 85 shares during the period. Prime Capital Investment Advisors LLC boosted its holdings in shares of Electronic Arts by 0.8% during the 4th quarter. Prime Capital Investment Advisors LLC now owns 10,891 shares of the game software company’s stock worth $1,437,000 after buying an additional 91 shares during the period. Finally, Midwest Professional Planners LTD. boosted its holdings in shares of Electronic Arts by 3.2% during the 4th quarter. Midwest Professional Planners LTD. now owns 2,954 shares of the game software company’s stock worth $390,000 after buying an additional 91 shares during the period. 89.28% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages recently commented on EA. Robert W. Baird reduced their target price on shares of Electronic Arts from $165.00 to $140.00 in a report on Wednesday, May 11th. Truist Financial reduced their target price on shares of Electronic Arts to $154.00 and set a “buy” rating for the company in a report on Sunday. Stifel Nicolaus reduced their target price on shares of Electronic Arts from $155.00 to $153.00 and set a “buy” rating for the company in a report on Monday, July 25th. Ascendiant Capital Markets set a $160.00 target price on shares of Electronic Arts in a report on Monday, June 20th. Finally, Raymond James cut their price objective on shares of Electronic Arts from $158.00 to $150.00 in a report on Wednesday, May 11th. Five research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $153.70.

Insider Buying and Selling at Electronic Arts

In other news, insider Chris Bruzzo sold 2,000 shares of the company’s stock in a transaction on Wednesday, May 18th. The shares were sold at an average price of $128.39, for a total value of $256,780.00. Following the sale, the insider now directly owns 27,524 shares of the company’s stock, valued at approximately $3,533,806.36. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, insider Chris Bruzzo sold 2,000 shares of the company’s stock in a transaction on Wednesday, May 18th. The shares were sold at an average price of $128.39, for a total value of $256,780.00. Following the sale, the insider now directly owns 27,524 shares of the company’s stock, valued at approximately $3,533,806.36. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Andrew Wilson sold 4,056 shares of the company’s stock in a transaction on Monday, May 23rd. The shares were sold at an average price of $133.88, for a total transaction of $543,017.28. Following the completion of the sale, the chief executive officer now directly owns 110,669 shares in the company, valued at $14,816,365.72. The disclosure for this sale can be found here. In the last ninety days, insiders sold 58,895 shares of company stock worth $7,692,454. 0.37% of the stock is currently owned by company insiders.

Electronic Arts Price Performance

EA stock opened at $133.28 on Thursday. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.18 and a quick ratio of 1.18. Electronic Arts Inc. has a 1 year low of $109.24 and a 1 year high of $147.76. The company has a 50 day simple moving average of $129.91 and a 200 day simple moving average of $128.32. The stock has a market cap of $37.26 billion, a price-to-earnings ratio of 48.29, a P/E/G ratio of 2.13 and a beta of 0.84.

Electronic Arts (NASDAQ:EA – Get Rating) last announced its quarterly earnings results on Tuesday, May 10th. The game software company reported $0.82 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.04 by ($0.22). Electronic Arts had a net margin of 11.29% and a return on equity of 18.99%. The business had revenue of $1.75 billion during the quarter, compared to analyst estimates of $1.77 billion. During the same quarter last year, the company posted $0.72 earnings per share. The company’s revenue was up 17.5% compared to the same quarter last year. Research analysts anticipate that Electronic Arts Inc. will post 5.49 EPS for the current fiscal year.

Electronic Arts Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 21st. Shareholders of record on Wednesday, August 31st will be given a $0.19 dividend. This represents a $0.76 annualized dividend and a yield of 0.57%. Electronic Arts’s dividend payout ratio (DPR) is currently 27.54%.

About Electronic Arts

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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.