Electronic Arts (NASDAQ:EA) had its price target boosted by analysts at Morgan Stanley from $120.00 to $126.00 in a research report issued to clients and investors on Wednesday. The firm presently has an “equal weight” rating on the game software company’s stock. Morgan Stanley’s target price would suggest a potential downside of 0.76% from the stock’s previous close.
A number of other equities analysts have also issued reports on the stock. Goldman Sachs Group lowered shares of Electronic Arts from a “conviction-buy” rating to a “buy” rating in a research report on Tuesday, December 12th. BMO Capital Markets reduced their price target on shares of Electronic Arts from $100.00 to $97.00 and set a “market perform” rating for the company in a research report on Thursday, November 2nd. Piper Jaffray Companies reissued a “buy” rating and set a $128.00 price target on shares of Electronic Arts in a research report on Thursday, October 12th. KeyCorp reissued a “buy” rating and set a $134.00 price target on shares of Electronic Arts in a research report on Sunday, November 19th. Finally, Buckingham Research set a $143.00 price target on shares of Electronic Arts and gave the stock a “buy” rating in a research report on Sunday, November 19th. Two analysts have rated the stock with a sell rating, five have assigned a hold rating and twenty-four have issued a buy rating to the stock. The stock currently has an average rating of “Buy” and an average price target of $127.21.
Shares of Electronic Arts (NASDAQ:EA) traded up $8.26 during trading on Wednesday, hitting $126.96. 14,730,000 shares of the company traded hands, compared to its average volume of 3,780,000. The stock has a market cap of $39,200.00, a price-to-earnings ratio of 33.50, a P/E/G ratio of 1.94 and a beta of 0.61. The company has a quick ratio of 2.38, a current ratio of 2.38 and a debt-to-equity ratio of 0.23. Electronic Arts has a 52-week low of $80.40 and a 52-week high of $131.01.
In related news, SVP Jacob J. Schatz sold 1,000 shares of Electronic Arts stock in a transaction on Monday, January 22nd. The shares were sold at an average price of $116.32, for a total value of $116,320.00. Following the sale, the senior vice president now owns 17,950 shares of the company’s stock, valued at approximately $2,087,944. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Chris Bruzzo sold 1,500 shares of Electronic Arts stock in a transaction on Friday, December 1st. The shares were sold at an average price of $105.80, for a total transaction of $158,700.00. Following the completion of the sale, the executive vice president now directly owns 38,562 shares in the company, valued at approximately $4,079,859.60. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 55,958 shares of company stock valued at $6,044,744. Insiders own 2.55% of the company’s stock.
A number of institutional investors have recently added to or reduced their stakes in the stock. Bank of New York Mellon Corp grew its stake in Electronic Arts by 0.6% in the 3rd quarter. Bank of New York Mellon Corp now owns 4,203,946 shares of the game software company’s stock valued at $496,317,000 after acquiring an additional 25,397 shares during the period. American Century Companies Inc. grew its stake in Electronic Arts by 7.8% in the 3rd quarter. American Century Companies Inc. now owns 2,712,104 shares of the game software company’s stock valued at $320,191,000 after acquiring an additional 196,228 shares during the period. Wells Fargo & Company MN grew its stake in Electronic Arts by 16.7% in the 3rd quarter. Wells Fargo & Company MN now owns 1,886,592 shares of the game software company’s stock valued at $222,730,000 after acquiring an additional 269,834 shares during the period. Nordea Investment Management AB grew its stake in Electronic Arts by 2.9% in the 3rd quarter. Nordea Investment Management AB now owns 1,618,094 shares of the game software company’s stock valued at $191,032,000 after acquiring an additional 45,446 shares during the period. Finally, Point72 Asset Management L.P. grew its stake in Electronic Arts by 49.6% in the 3rd quarter. Point72 Asset Management L.P. now owns 1,570,034 shares of the game software company’s stock valued at $185,358,000 after acquiring an additional 520,560 shares during the period. 93.15% of the stock is currently owned by hedge funds and other institutional investors.
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About Electronic Arts
Electronic Arts Inc develops, markets, publishes and distributes games, content and services that can be played by consumers on a range of platforms, which include consoles, personal computers (PCs), mobile phones and tablets. The Company’s games and services are based on a portfolio of intellectual property that includes established brands, such as FIFA, Madden NFL, Star Wars, Battlefield, the Sims and Need for Speed.
