Victory Capital Management Inc. Buys 60,709 Shares of Electronic Arts Inc. (NASDAQ:EA)

Victory Capital Management Inc. lifted its stake in Electronic Arts Inc. (NASDAQ:EA - Free Report) by 24.7% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 306,620 shares of the game software company's stock after purchasing an additional 60,709 shares during the quarter. Victory Capital Management Inc. owned 0.12% of Electronic Arts worth $44,313,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also made changes to their positions in the company. Nomura Holdings Inc. raised its position in Electronic Arts by 11.7% during the fourth quarter. Nomura Holdings Inc. now owns 31,208 shares of the game software company's stock valued at $4,566,000 after acquiring an additional 3,259 shares in the last quarter. Huntington National Bank raised its holdings in shares of Electronic Arts by 31.4% during the 4th quarter. Huntington National Bank now owns 338,870 shares of the game software company's stock valued at $49,577,000 after purchasing an additional 80,968 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. lifted its stake in shares of Electronic Arts by 2.1% in the 1st quarter. Sumitomo Mitsui Trust Group Inc. now owns 653,581 shares of the game software company's stock valued at $94,456,000 after purchasing an additional 13,461 shares during the last quarter. GAMMA Investing LLC boosted its holdings in Electronic Arts by 11,587.9% in the first quarter. GAMMA Investing LLC now owns 669,367 shares of the game software company's stock worth $96,737,000 after purchasing an additional 663,640 shares in the last quarter. Finally, Arlington Partners LLC increased its position in Electronic Arts by 23.3% during the first quarter. Arlington Partners LLC now owns 34,536 shares of the game software company's stock worth $4,991,000 after buying an additional 6,532 shares during the last quarter. 90.23% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the company. UBS Group raised their price target on Electronic Arts from $152.00 to $167.00 and gave the company a "neutral" rating in a research report on Wednesday, May 7th. Citigroup reaffirmed a "neutral" rating and issued a $153.00 price target (up from $139.00) on shares of Electronic Arts in a research report on Thursday, May 29th. Wedbush reaffirmed an "outperform" rating and set a $210.00 target price on shares of Electronic Arts in a research report on Tuesday. Robert W. Baird set a $168.00 price target on shares of Electronic Arts in a research report on Wednesday, May 7th. Finally, Oppenheimer upped their price objective on shares of Electronic Arts from $170.00 to $185.00 and gave the company an "outperform" rating in a research report on Wednesday, May 7th. Fourteen equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $162.71.

Insider Transactions at Electronic Arts

In related news, insider Vijayanthimala Singh sold 1,000 shares of the business's stock in a transaction on Tuesday, July 1st. The shares were sold at an average price of $159.53, for a total transaction of $159,530.00. Following the transaction, the insider directly owned 37,131 shares in the company, valued at approximately $5,923,508.43. The trade was a 2.62% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Stuart Canfield sold 1,000 shares of the company's stock in a transaction dated Tuesday, May 20th. The shares were sold at an average price of $151.32, for a total transaction of $151,320.00. Following the completion of the sale, the chief financial officer directly owned 14,533 shares in the company, valued at approximately $2,199,133.56. The trade was a 6.44% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 31,729 shares of company stock worth $4,822,884. Corporate insiders own 0.24% of the company's stock.

Electronic Arts Trading Up 2.5%

Shares of NASDAQ EA traded up $3.83 during midday trading on Tuesday, reaching $157.22. 1,947,430 shares of the stock were exchanged, compared to its average volume of 2,807,581. Electronic Arts Inc. has a 12 month low of $115.21 and a 12 month high of $168.50. The company has a market capitalization of $39.50 billion, a price-to-earnings ratio of 37.08, a P/E/G ratio of 2.04 and a beta of 0.73. The company has a debt-to-equity ratio of 0.23, a current ratio of 0.95 and a quick ratio of 0.95. The business has a 50-day simple moving average of $150.60 and a two-hundred day simple moving average of $142.55.

Electronic Arts Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, June 18th. Investors of record on Wednesday, May 28th were issued a dividend of $0.19 per share. The ex-dividend date of this dividend was Wednesday, May 28th. This represents a $0.76 dividend on an annualized basis and a dividend yield of 0.48%. Electronic Arts's payout ratio is presently 17.92%.

Electronic Arts 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.