Electronic Arts Inc. (EA) Upgraded by BidaskClub to Hold
BidaskClub upgraded shares of Electronic Arts Inc. (NASDAQ:EA) from a sell rating to a hold rating in a research report released on Tuesday.
A number of other equities research analysts have also commented on EA. Vetr upgraded shares of Electronic Arts from a buy rating to a strong-buy rating and set a $125.00 price target for the company in a report on Tuesday, July 4th. Stifel Nicolaus reiterated a buy rating on shares of Electronic Arts in a report on Monday, July 17th. Needham & Company LLC started coverage on shares of Electronic Arts in a report on Monday, July 17th. They set a buy rating and a $130.00 price target for the company. Bank of America Corporation upgraded shares of Electronic Arts from a neutral rating to a buy rating and set a $131.00 price target for the company in a report on Wednesday, July 26th. Finally, Jefferies Group LLC reiterated a buy rating and set a $135.00 price target (up from $123.00) on shares of Electronic Arts in a report on Friday, July 28th. Four investment analysts have rated the stock with a hold rating, twenty-four have given a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has a consensus rating of Buy and an average target price of $122.86.
Electronic Arts (NASDAQ:EA) traded down 5.52% during midday trading on Tuesday, hitting $113.00. 3,913,530 shares of the stock traded hands. The stock’s 50-day moving average price is $117.27 and its 200 day moving average price is $111.88. Electronic Arts has a 52 week low of $73.74 and a 52 week high of $122.79. The company has a market capitalization of $34.89 billion, a price-to-earnings ratio of 30.25 and a beta of 0.69.
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In other news, Director Lawrence F. Probst III sold 68,072 shares of the firm’s stock in a transaction dated Wednesday, August 16th. The shares were sold at an average price of $118.83, for a total transaction of $8,088,995.76. Following the sale, the director now owns 176,348 shares of the company’s stock, valued at approximately $20,955,432.84. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Andrew Wilson sold 10,058 shares of the firm’s stock in a transaction dated Friday, September 1st. The shares were sold at an average price of $119.56, for a total transaction of $1,202,534.48. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 179,038 shares of company stock worth $21,345,710. Insiders own 2.55% of the company’s stock.
Several hedge funds and other institutional investors have recently made changes to their positions in EA. D. Scott Neal Inc. purchased a new stake in shares of Electronic Arts during the 2nd quarter valued at about $120,000. Tower Research Capital LLC TRC boosted its holdings in shares of Electronic Arts by 310.8% during the 2nd quarter. Tower Research Capital LLC TRC now owns 1,405 shares of the game software company’s stock valued at $149,000 after acquiring an additional 1,063 shares during the last quarter. Dupont Capital Management Corp purchased a new stake in shares of Electronic Arts during the 3rd quarter valued at about $183,000. Captrust Financial Advisors purchased a new stake in shares of Electronic Arts during the 2nd quarter valued at about $195,000. Finally, Ray Gerald L & Associates Ltd. purchased a new stake in shares of Electronic Arts during the 3rd quarter valued at about $208,000. 94.45% of the stock is currently owned by hedge funds and other institutional investors.
Electronic Arts Company Profile
Electronic Arts Inc develops, markets, publishes and distributes games, content and services that can be played by consumers on a range of platforms, which include consoles, personal computers (PCs), mobile phones and tablets. The Company’s games and services are based on a portfolio of intellectual property that includes established brands, such as FIFA, Madden NFL, Star Wars, Battlefield, the Sims and Need for Speed.
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