Electronic Arts (NASDAQ:EA) Stock Rating Lowered by Bank of America

Electronic Arts (NASDAQ:EA) was downgraded by equities research analysts at Bank of America from a “buy” rating to a “neutral” rating in a report issued on Thursday, Marketbeat reports. They presently have a $130.00 price target on the game software company’s stock, down from their previous price target of $170.00. Bank of America‘s target price points to a potential upside of 11.53% from the stock’s current price.

A number of other research analysts have also recently issued reports on EA. Wedbush reaffirmed an “outperform” rating and issued a $170.00 target price on shares of Electronic Arts in a report on Friday, October 25th. Argus boosted their target price on Electronic Arts from $161.00 to $183.00 and gave the stock a “buy” rating in a research report on Thursday, November 7th. BNP Paribas upgraded shares of Electronic Arts to a “strong-buy” rating in a research report on Wednesday, October 9th. Roth Mkm raised their target price on shares of Electronic Arts from $154.00 to $158.00 and gave the company a “neutral” rating in a report on Wednesday, October 30th. Finally, StockNews.com raised shares of Electronic Arts from a “buy” rating to a “strong-buy” rating in a report on Thursday, October 31st. Eleven research analysts have rated the stock with a hold rating, eight have given a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat, Electronic Arts presently has a consensus rating of “Moderate Buy” and a consensus target price of $159.79.

Electronic Arts Stock Performance

NASDAQ EA opened at $116.56 on Thursday. The business’s 50 day moving average is $152.43 and its two-hundred day moving average is $148.83. Electronic Arts has a 12-month low of $115.21 and a 12-month high of $168.50. The stock has a market capitalization of $30.57 billion, a price-to-earnings ratio of 29.96, a PEG ratio of 1.87 and a beta of 0.80. The company has a current ratio of 1.43, a quick ratio of 1.43 and a debt-to-equity ratio of 0.25.

Insider Activity at Electronic Arts

In related news, EVP Jacob J. Schatz sold 1,500 shares of the firm’s stock in a transaction that occurred on Wednesday, January 15th. The shares were sold at an average price of $143.45, for a total value of $215,175.00. Following the transaction, the executive vice president now owns 23,386 shares in the company, valued at approximately $3,354,721.70. This trade represents a 6.03 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Andrew Wilson sold 5,000 shares of Electronic Arts stock in a transaction that occurred on Tuesday, January 21st. The shares were sold at an average price of $142.68, for a total transaction of $713,400.00. Following the transaction, the chief executive officer now directly owns 42,615 shares in the company, valued at approximately $6,080,308.20. This trade represents a 10.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 26,000 shares of company stock worth $3,986,385. 0.22% of the stock is owned by company insiders.

Hedge Funds Weigh In On Electronic Arts

Hedge funds and other institutional investors have recently made changes to their positions in the business. Huntington National Bank boosted its holdings in Electronic Arts by 983.4% in the 3rd quarter. Huntington National Bank now owns 257,902 shares of the game software company’s stock worth $36,993,000 after acquiring an additional 234,098 shares during the period. Dai ichi Life Insurance Company Ltd grew its holdings in Electronic Arts by 20.8% during the 3rd quarter. Dai ichi Life Insurance Company Ltd now owns 64,170 shares of the game software company’s stock valued at $9,205,000 after purchasing an additional 11,058 shares in the last quarter. Nomura Asset Management Co. Ltd. increased its stake in Electronic Arts by 5.9% during the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 84,200 shares of the game software company’s stock worth $12,078,000 after buying an additional 4,702 shares during the period. Greenwood Capital Associates LLC acquired a new position in Electronic Arts in the 3rd quarter worth $5,597,000. Finally, Chesapeake Capital Corp IL purchased a new position in Electronic Arts in the 3rd quarter valued at about $950,000. Institutional investors and hedge funds own 90.23% of the company’s stock.

About Electronic Arts

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.