Electronic Arts SVP Unloads $348,600 in Stock (EA)
Electronic Arts (NASDAQ:EA) SVP Lucy Bradshaw sold 10,000 shares of Electronic Arts stock in a transaction dated Friday, May 30th. The shares were sold at an average price of $34.86, for a total transaction of $348,600.00. Following the transaction, the senior vice president now directly owns 107,639 shares in the company, valued at approximately $3,752,296. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.
A number of research firms have recently commented on EA. Analysts at Zacks upgraded shares of Electronic Arts from a “neutral” rating to an “outperform” rating in a research note on Thursday. They now have a $42.00 price target on the stock. Separately, analysts at Longbow Research raised their price target on shares of Electronic Arts from $36.00 to $39.00 in a research note on Friday, May 16th. They now have a “buy” rating on the stock. Finally, analysts at Needham & Company LLC raised their price target on shares of Electronic Arts from $33.00 to $40.00 in a research note on Monday, May 12th. They now have a “strong-buy” rating on the stock. Six analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. Electronic Arts has a consensus rating of “Buy” and an average target price of $36.18.
Shares of Electronic Arts (NASDAQ:EA) traded up 1.06% on Friday, hitting $35.13. The stock had a trading volume of 2,886,401 shares. Electronic Arts has a 1-year low of $20.47 and a 1-year high of $35.65. The stock’s 50-day moving average is $31.19 and its 200-day moving average is $27.07. The company has a market cap of $11.050 billion and a P/E ratio of 1336.92. Electronic Arts also was the target of a large decline in short interest in May. As of May 15th, there was short interest totalling 16,491,716 shares, a decline of 37.3% from the April 30th total of 26,313,792 shares. Approximately 5.5% of the shares of the company are sold short. Based on an average daily volume of 7,548,627 shares, the days-to-cover ratio is currently 2.2 days.
Electronic Arts (NASDAQ:EA) last announced its earnings results on Tuesday, May 6th. The company reported $0.48 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.11 by $0.37. The company had revenue of $914.00 million for the quarter, compared to the consensus estimate of $812.09 million. During the same quarter in the prior year, the company posted $0.55 earnings per share. The company’s quarterly revenue was down 12.1% on a year-over-year basis. On average, analysts predict that Electronic Arts will post $1.89 earnings per share 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.
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