Wedbush Reiterates Outperform Rating for Electronic Arts (NASDAQ:EA)

Electronic Arts (NASDAQ:EA)‘s stock had its “outperform” rating reaffirmed by Wedbush in a report issued on Thursday,Benzinga reports. They presently have a $173.00 target price on the game software company’s stock. Wedbush’s price target would suggest a potential upside of 48.42% from the stock’s current price.

Several other equities analysts have also weighed in on EA. Stifel Nicolaus dropped their price objective on shares of Electronic Arts from $167.00 to $159.00 and set a “hold” rating on the stock in a research report on Tuesday. JPMorgan Chase & Co. cut their price objective on shares of Electronic Arts from $155.00 to $150.00 and set a “neutral” rating for the company in a research report on Wednesday, October 30th. Argus upped their target price on Electronic Arts from $161.00 to $183.00 and gave the company a “buy” rating in a research report on Thursday, November 7th. Raymond James cut Electronic Arts from an “outperform” rating to a “market perform” rating in a report on Thursday. Finally, UBS Group upped their price objective on Electronic Arts from $155.00 to $160.00 and gave the company a “neutral” rating in a report on Wednesday, October 30th. Eleven equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, Electronic Arts currently has a consensus rating of “Moderate Buy” and an average price target of $159.79.

Electronic Arts Stock Performance

NASDAQ EA opened at $116.56 on Thursday. The firm has a market capitalization of $30.57 billion, a P/E ratio of 29.96, a price-to-earnings-growth 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. The firm’s fifty day moving average price is $152.43 and its two-hundred day moving average price is $148.83. Electronic Arts has a 1 year low of $115.21 and a 1 year high of $168.50.

Insider Buying and Selling

In other news, insider Laura Miele sold 2,500 shares of the company’s stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $158.03, for a total transaction of $395,075.00. Following the transaction, the insider now directly owns 50,433 shares of the company’s stock, valued at $7,969,926.99. This represents a 4.72 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Andrew Wilson sold 5,000 shares of Electronic Arts stock in a transaction 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 completion of the sale, the chief executive officer now directly owns 42,615 shares of the company’s stock, valued at approximately $6,080,308.20. The trade was a 10.50 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 26,000 shares of company stock valued at $3,986,385 over the last quarter. Insiders own 0.22% of the company’s stock.

Institutional Trading of Electronic Arts

Several institutional investors and hedge funds have recently modified their holdings of the stock. D. E. Shaw & Co. Inc. boosted its holdings in Electronic Arts by 43.3% during the second quarter. D. E. Shaw & Co. Inc. now owns 1,390,418 shares of the game software company’s stock worth $193,727,000 after purchasing an additional 420,382 shares during the last quarter. Robeco Institutional Asset Management B.V. boosted its stake in shares of Electronic Arts by 51.5% in the 4th quarter. Robeco Institutional Asset Management B.V. now owns 1,099,746 shares of the game software company’s stock worth $160,893,000 after buying an additional 373,730 shares during the last quarter. abrdn plc grew its holdings in shares of Electronic Arts by 59.2% in the third quarter. abrdn plc now owns 858,840 shares of the game software company’s stock valued at $123,484,000 after acquiring an additional 319,335 shares in the last quarter. Caisse DE Depot ET Placement DU Quebec increased its position in shares of Electronic Arts by 8,503.9% during the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 318,085 shares of the game software company’s stock valued at $45,626,000 after acquiring an additional 314,388 shares during the last quarter. Finally, Los Angeles Capital Management LLC bought a new stake in Electronic Arts during the third quarter worth $40,154,000. 90.23% of the stock is owned by hedge funds and other institutional investors.

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.