Electronic Arts Inc. $EA Shares Sold by Burgundy Asset Management Ltd.

Burgundy Asset Management Ltd. trimmed its position in Electronic Arts Inc. (NASDAQ:EA) by 1.7% during the third quarter, Holdings Channel.com reports. The firm owned 973,374 shares of the game software company’s stock after selling 17,083 shares during the period. Electronic Arts accounts for approximately 1.9% of Burgundy Asset Management Ltd.’s holdings, making the stock its 18th largest position. Burgundy Asset Management Ltd.’s holdings in Electronic Arts were worth $196,330,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. IFG Advisory LLC purchased a new position in Electronic Arts in the third quarter valued at $222,000. Bellwether Advisors LLC increased its holdings in shares of Electronic Arts by 621,950.0% in the 3rd quarter. Bellwether Advisors LLC now owns 12,441 shares of the game software company’s stock valued at $2,509,000 after acquiring an additional 12,439 shares during the last quarter. Cresset Asset Management LLC raised its position in shares of Electronic Arts by 5.4% during the 3rd quarter. Cresset Asset Management LLC now owns 6,795 shares of the game software company’s stock worth $1,371,000 after acquiring an additional 348 shares in the last quarter. Claro Advisors LLC purchased a new stake in Electronic Arts during the third quarter worth approximately $213,000. Finally, Picton Mahoney Asset Management lifted its stake in Electronic Arts by 4,322.2% during the third quarter. Picton Mahoney Asset Management now owns 75,000 shares of the game software company’s stock worth $15,127,000 after purchasing an additional 73,304 shares during the last quarter. Institutional investors and hedge funds own 90.23% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on EA shares. UBS Group reiterated a “neutral” rating on shares of Electronic Arts in a research note on Wednesday, February 4th. Citigroup dropped their target price on shares of Electronic Arts from $207.00 to $202.00 and set a “neutral” rating on the stock in a research report on Wednesday, February 4th. Finally, Zacks Research cut shares of Electronic Arts from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, November 19th. Three research analysts have rated the stock with a Buy rating, nineteen have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $188.30.

Electronic Arts Stock Performance

Shares of Electronic Arts stock opened at $201.73 on Thursday. The firm’s fifty day simple moving average is $202.63 and its 200-day simple moving average is $195.71. Electronic Arts Inc. has a 12 month low of $131.15 and a 12 month high of $204.88. The stock has a market capitalization of $50.48 billion, a price-to-earnings ratio of 75.84, a PEG ratio of 2.39 and a beta of 0.75. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.93 and a quick ratio of 0.93.

Electronic Arts Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 18th. Shareholders of record on Wednesday, February 25th will be paid a $0.19 dividend. The ex-dividend date is Wednesday, February 25th. This represents a $0.76 dividend on an annualized basis and a yield of 0.4%. Electronic Arts’s payout ratio is currently 28.57%.

Insider Buying and Selling at Electronic Arts

In related news, CFO Stuart Canfield sold 1,500 shares of the business’s stock in a transaction dated Tuesday, February 17th. The stock was sold at an average price of $199.90, for a total value of $299,850.00. Following the transaction, the chief financial officer owned 5,897 shares in the company, valued at $1,178,810.30. The trade was a 20.28% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Laura Miele sold 2,500 shares of the stock in a transaction that occurred on Tuesday, February 17th. The stock was sold at an average price of $199.53, for a total value of $498,825.00. Following the sale, the insider directly owned 48,343 shares of the company’s stock, valued at $9,645,878.79. The trade was a 4.92% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 27,600 shares of company stock valued at $5,589,823 over the last ninety days. 0.24% of the stock is currently owned by corporate insiders.

Electronic Arts Profile

Electronic Arts Inc (NASDAQ: EA) is a global interactive entertainment company headquartered in Redwood City, California. Founded in 1982 by Trip Hawkins, EA develops, publishes and distributes video games and related content for a variety of platforms, including consoles, personal computers and mobile devices. The company combines in-house development, partnerships and studio acquisitions to create and maintain a portfolio of entertainment properties and live-service experiences for players worldwide.

EA’s product lineup spans several well-known franchises and genres.