Insider Selling: Electronic Arts CAO Sells 50,000 Shares of Stock (EA)
Electronic Arts (NYSE:EA) CAO Kenneth A. Barker unloaded 50,000 shares of the stock on the open market in a transaction dated Friday, February 7th. The shares were sold at an average price of $26.79, for a total transaction of $1,339,500.00. Following the completion of the transaction, the chief accounting officer now directly owns 57,244 shares of the company’s stock, valued at approximately $1,533,567. The sale was disclosed in a filing with the SEC, which is available at this link.
A number of research firms have recently commented on EA. Analysts at Sterne Agee raised their price target on shares of Electronic Arts from $26.00 to $36.00 in a research note to investors on Wednesday, January 29th. They now have a “buy” rating on the stock. Separately, analysts at Bank of America Corp. upgraded shares of Electronic Arts from a “neutral” rating to a “buy” rating in a research note to investors on Wednesday, January 29th. They now have a $36.00 price target on the stock, up previously from $29.00. Finally, analysts at Hudson Square Research upgraded shares of Electronic Arts from a “sell” rating to a “hold” rating in a research note to investors on Friday, January 24th. Eleven analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the company. The stock has an average rating of “Buy” and an average price target of $27.22.
Electronic Arts (NYSE:EA) traded up 2.80% on Friday, hitting $27.20. 9,205,463 shares of the company’s stock traded hands. Electronic Arts has a 52-week low of $16.65 and a 52-week high of $28.13. The stock’s 50-day moving average is $23.99 and its 200-day moving average is $24.94. The company’s market cap is $8.405 billion.
Electronic Arts (NYSE:EA) last announced its earnings results on Monday, January 27th. The company reported $1.26 earnings per share for the quarter, beating the analysts’ consensus estimate of $1.24 by $0.02. The company had revenue of $1.57 billion for the quarter, compared to the consensus estimate of $1.66 billion. During the same quarter last year, the company posted $0.57 earnings per share. Electronic Arts’s revenue was up 33.0% compared to the same quarter last year. Analysts expect that Electronic Arts will post $1.32 EPS for the current fiscal year.
Electronic Arts Inc develops, markets, publishes and distributes game software content and services that can be played by consumers on a variety of video game machines and electronic devices (NYSE:EA).
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