Burgundy Asset Management Ltd. Has $202.67 Million Position in Electronic Arts Inc. (NASDAQ:EA)

Burgundy Asset Management Ltd. lowered its stake in shares of Electronic Arts Inc. (NASDAQ:EA) by 1.1% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,454,605 shares of the game software company’s stock after selling 15,970 shares during the period. Electronic Arts makes up 2.1% of Burgundy Asset Management Ltd.’s portfolio, making the stock its 10th biggest position. Burgundy Asset Management Ltd. owned approximately 0.55% of Electronic Arts worth $202,670,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently modified their holdings of EA. XTX Topco Ltd lifted its holdings in shares of Electronic Arts by 104.5% in the second quarter. XTX Topco Ltd now owns 11,695 shares of the game software company’s stock valued at $1,629,000 after purchasing an additional 5,975 shares in the last quarter. Palouse Capital Management Inc. raised its position in Electronic Arts by 22.8% in the 2nd quarter. Palouse Capital Management Inc. now owns 9,477 shares of the game software company’s stock valued at $1,320,000 after buying an additional 1,759 shares during the last quarter. Mondrian Investment Partners LTD lifted its stake in Electronic Arts by 28.0% in the 2nd quarter. Mondrian Investment Partners LTD now owns 4,532 shares of the game software company’s stock valued at $684,000 after acquiring an additional 991 shares in the last quarter. Vanguard Personalized Indexing Management LLC boosted its position in Electronic Arts by 8.9% during the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 25,079 shares of the game software company’s stock worth $3,446,000 after acquiring an additional 2,049 shares during the last quarter. Finally, Meiji Yasuda Asset Management Co Ltd. grew its stake in shares of Electronic Arts by 13.9% during the 2nd quarter. Meiji Yasuda Asset Management Co Ltd. now owns 6,264 shares of the game software company’s stock worth $873,000 after acquiring an additional 765 shares in the last quarter. 90.23% of the stock is currently owned by institutional investors and hedge funds.

Electronic Arts Stock Performance

Shares of EA stock opened at $140.45 on Thursday. Electronic Arts Inc. has a 52 week low of $117.47 and a 52 week high of $153.51. The company 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. The company has a 50-day simple moving average of $146.44 and a 200 day simple moving average of $137.66. The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.45 and a current ratio of 1.45.

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

Electronic Arts Announces Dividend

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

Insider Transactions at Electronic Arts

In other Electronic Arts news, EVP Jacob J. Schatz sold 1,500 shares of the business’s stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $146.58, for a total value of $219,870.00. Following the completion of the sale, the executive vice president now owns 26,360 shares of the company’s stock, valued at approximately $3,863,848.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, insider Vijayanthimala Singh sold 7,384 shares of the business’s stock in a transaction dated Wednesday, August 28th. The stock was sold at an average price of $149.91, for a total value of $1,106,935.44. Following the completion of the transaction, the insider now owns 31,190 shares of the company’s stock, valued at $4,675,692.90. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, EVP Jacob J. Schatz sold 1,500 shares of the company’s stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $146.58, for a total transaction of $219,870.00. Following the sale, the executive vice president now directly owns 26,360 shares of the company’s stock, valued at approximately $3,863,848.80. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 28,570 shares of company stock valued at $4,183,508. 0.22% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

EA has been the topic of a number of research reports. Raymond James boosted 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. Jefferies Financial Group began coverage on shares of Electronic Arts in a research note on Thursday, July 11th. They set a “buy” rating and a $165.00 price objective for the company. Wedbush lifted their target price on Electronic Arts from $162.00 to $170.00 and gave the company an “outperform” rating in a research report on Wednesday, July 31st. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and set a $160.00 target price on shares of Electronic Arts in a report on Wednesday. Finally, Bank of America raised their price target on Electronic Arts from $150.00 to $170.00 and gave the company a “buy” rating in a research note on Wednesday, July 31st. Nine research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $161.83.

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.