Burgundy Asset Management Ltd. Sells 178,375 Shares of Electronic Arts Inc. (NASDAQ:EA)

Burgundy Asset Management Ltd. lowered its position in Electronic Arts Inc. (NASDAQ:EA) by 13.6% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,128,733 shares of the game software company’s stock after selling 178,375 shares during the quarter. Electronic Arts makes up approximately 1.7% of Burgundy Asset Management Ltd.’s portfolio, making the stock its 22nd biggest position. Burgundy Asset Management Ltd. owned about 0.43% of Electronic Arts worth $163,124,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Vanguard Group Inc. lifted its stake in Electronic Arts by 0.5% in the first quarter. Vanguard Group Inc. now owns 29,052,085 shares of the game software company’s stock worth $4,198,607,000 after acquiring an additional 150,438 shares during the period. Invesco Ltd. boosted its position in shares of Electronic Arts by 15.6% during the first quarter. Invesco Ltd. now owns 3,733,481 shares of the game software company’s stock valued at $539,563,000 after buying an additional 504,760 shares during the last quarter. Northern Trust Corp boosted its position in shares of Electronic Arts by 12.4% during the fourth quarter. Northern Trust Corp now owns 3,257,281 shares of the game software company’s stock valued at $476,540,000 after buying an additional 360,563 shares during the last quarter. Goldman Sachs Group Inc. boosted its position in Electronic Arts by 62.7% in the first quarter. Goldman Sachs Group Inc. now owns 3,253,505 shares of the game software company’s stock worth $470,197,000 after purchasing an additional 1,254,194 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in Electronic Arts by 5.2% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,663,957 shares of the game software company’s stock worth $389,737,000 after purchasing an additional 132,703 shares during the last quarter. Hedge funds and other institutional investors own 90.23% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have recently weighed in on EA shares. JPMorgan Chase & Co. lifted their price objective on Electronic Arts from $135.00 to $160.00 and gave the company a “neutral” rating in a research report on Wednesday, May 7th. Benchmark lifted their price objective on Electronic Arts from $160.00 to $180.00 and gave the company a “buy” rating in a research report on Wednesday, May 7th. Wall Street Zen cut Electronic Arts from a “buy” rating to a “hold” rating in a research report on Saturday, August 2nd. UBS Group set a $167.00 target price on Electronic Arts and gave the company a “neutral” rating in a research note on Friday, August 1st. Finally, DA Davidson lifted their target price on Electronic Arts from $150.00 to $160.00 and gave the company a “neutral” rating in a research note on Monday, August 11th. Sixteen investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $167.12.

Insiders Place Their Bets

In related news, CFO Stuart Canfield sold 1,000 shares of the firm’s stock in a transaction dated Tuesday, May 20th. The stock was sold at an average price of $151.32, for a total transaction of $151,320.00. Following the sale, the chief financial officer directly owned 14,533 shares of the company’s stock, valued at $2,199,133.56. This trade represents a 6.44% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Vijayanthimala Singh sold 1,000 shares of the firm’s stock in a transaction dated Tuesday, July 1st. The stock was sold at an average price of $159.53, for a total value of $159,530.00. Following the sale, the insider directly owned 37,131 shares in the company, valued at approximately $5,923,508.43. This trade represents a 2.62% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 29,229 shares of company stock valued at $4,452,664. Insiders own 0.24% of the company’s stock.

Electronic Arts Trading Down 2.4%

Electronic Arts stock opened at $174.67 on Friday. The stock has a 50-day moving average of $156.13 and a two-hundred day moving average of $146.04. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.84 and a current ratio of 0.84. Electronic Arts Inc. has a one year low of $115.21 and a one year high of $180.90. The stock has a market cap of $43.70 billion, a PE ratio of 43.78, a price-to-earnings-growth ratio of 2.25 and a beta of 0.72.

Electronic Arts Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 17th. Stockholders of record on Wednesday, August 27th will be issued a $0.19 dividend. The ex-dividend date of this dividend is Wednesday, August 27th. This represents a $0.76 dividend on an annualized basis and a dividend yield of 0.4%. Electronic Arts’s dividend payout ratio is currently 19.05%.

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.