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

Victory Capital Management Inc. decreased its holdings in Electronic Arts Inc. (NASDAQ:EA) by 26.0% in the third quarter, according to its most recent Form 13F filing with the Securities & 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.’s holdings in Electronic Arts were worth $33,196,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also added to or reduced their stakes in the stock. Ashton Thomas Securities LLC purchased a new position in shares of Electronic Arts during the 3rd quarter worth approximately $25,000. Opal Wealth Advisors LLC purchased a new stake in Electronic Arts in the second quarter worth $28,000. Family Firm Inc. bought a new position in Electronic Arts in the second quarter worth $33,000. New Covenant Trust Company N.A. purchased a new position in Electronic Arts during the first quarter valued at $35,000. Finally, Reston Wealth Management LLC bought a new stake in shares of Electronic Arts during the 3rd quarter valued at $36,000. Institutional investors own 90.23% of the company’s stock.

Electronic Arts Stock Performance

EA stock opened at $161.36 on Friday. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.43 and a quick ratio of 1.43. Electronic Arts Inc. has a 1 year low of $124.92 and a 1 year high of $164.42. The company has a market cap of $42.32 billion, a P/E ratio of 41.48, a price-to-earnings-growth ratio of 2.13 and a beta of 0.78. The stock’s fifty day moving average price is $147.17 and its 200-day moving average price is $142.55.

Electronic Arts Dividend Announcement

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

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on EA shares. BNP Paribas raised shares of Electronic Arts to a “strong-buy” rating in a research report on Wednesday, October 9th. The Goldman Sachs Group boosted their price target on Electronic Arts from $139.00 to $150.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 31st. Raymond James upped their price target on Electronic Arts from $155.00 to $170.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 31st. Robert W. Baird boosted their target price on Electronic Arts from $170.00 to $175.00 and gave the stock an “outperform” rating in a report on Wednesday, October 30th. Finally, Stifel Nicolaus raised their price target on Electronic Arts from $165.00 to $167.00 and gave the company a “buy” rating in a report on Wednesday, July 31st. Eight equities research analysts have rated the stock with a hold rating, twelve have issued a buy rating and two have given a strong buy rating to the company. According to MarketBeat, Electronic Arts currently has a consensus rating of “Moderate Buy” and an average price target of $165.37.

Insider Activity

In other news, CFO Stuart Canfield sold 1,260 shares of Electronic Arts stock in a transaction dated Monday, August 19th. The stock was sold at an average price of $148.37, for a total transaction of $186,946.20. Following the transaction, the chief financial officer now directly owns 7,553 shares of the company’s stock, valued at $1,120,638.61. The trade was a 14.30 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Vijayanthimala Singh sold 7,384 shares of the stock in a transaction that occurred on Wednesday, August 28th. The stock was sold at an average price of $149.91, for a total transaction of $1,106,935.44. Following the completion of the sale, the insider now directly owns 31,190 shares of the company’s stock, valued at $4,675,692.90. This represents a 19.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 26,144 shares of company stock valued at $3,886,282 in the last quarter. 0.22% of the stock is currently owned by insiders.

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.