Insider Selling: Joel Linzner Sells 25,000 Shares of Electronic Arts Stock (EA)
Electronic Arts (NASDAQ:EA) EVP Joel Linzner sold 25,000 shares of the stock in a transaction dated Friday, August 22nd. The shares were sold at an average price of $37.69, for a total transaction of $942,250.00. Following the sale, the executive vice president now directly owns 186,520 shares in the company, valued at approximately $7,029,939. The sale was disclosed in a filing with the SEC, which can be accessed through this link.
Shares of Electronic Arts (NASDAQ:EA) traded up 1.06% on Friday, hitting $38.16. The stock had a trading volume of 3,312,348 shares. Electronic Arts has a 1-year low of $20.47 and a 1-year high of $38.64. The stock’s 50-day moving average is $35.9 and its 200-day moving average is $32.33. The company has a market cap of $11.929 billion and a P/E ratio of 97.82.
Electronic Arts (NASDAQ:EA) last announced its earnings results on Tuesday, July 22nd. The company reported $0.19 EPS for the quarter, beating the Thomson Reuters consensus estimate of ($0.04) by $0.23. The company had revenue of $775.00 million for the quarter, compared to the consensus estimate of $709.15 million. During the same quarter in the prior year, the company posted ($0.40) earnings per share. The company’s quarterly revenue was up 56.6% on a year-over-year basis. Analysts expect that Electronic Arts will post $1.92 EPS for the current fiscal year.
A number of analysts have recently weighed in on EA shares. Analysts at Wedbush raised their price target on shares of Electronic Arts from $43.00 to $49.00 in a research note on Wednesday, July 23rd. They now have an “outperform” rating on the stock. Separately, analysts at BMO Capital Markets raised their price target on shares of Electronic Arts from $40.00 to $46.00 in a research note on Wednesday, July 23rd. They now have an “outperform” rating on the stock. Finally, analysts at Cowen and Company raised their price target on shares of Electronic Arts from $38.00 to $44.00 in a research note on Wednesday, July 23rd. They now have an “outperform” rating on the stock. Six investment analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company. The company has an average rating of “Buy” and a consensus target price of $41.49.
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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