ValuEngine cut shares of Electronic Arts (NASDAQ:EA) from a buy rating to a hold rating in a research report released on Wednesday morning.
Several other research firms have also recently commented on EA. Wedbush reissued a buy rating and set a $138.00 price target on shares of Electronic Arts in a research note on Wednesday, January 31st. Stifel Nicolaus reissued a buy rating and set a $129.00 price target (up from $128.00) on shares of Electronic Arts in a research note on Friday, January 26th. Oppenheimer reissued a buy rating and set a $130.00 price target on shares of Electronic Arts in a research note on Wednesday, January 17th. Goldman Sachs Group cut shares of Electronic Arts from a conviction-buy rating to a buy rating in a research note on Tuesday, December 12th. Finally, Morgan Stanley cut shares of Electronic Arts from an overweight rating to an equal weight rating and increased their price target for the company from $112.00 to $126.00 in a research note on Friday, January 12th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and twenty-three have assigned a buy rating to the company. The company presently has an average rating of Buy and a consensus target price of $132.18.
Shares of Electronic Arts (NASDAQ:EA) opened at $128.49 on Wednesday. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.92 and a current ratio of 1.92. The firm has a market cap of $39,410.00, a PE ratio of 34.92, a price-to-earnings-growth ratio of 2.34 and a beta of 0.76. Electronic Arts has a 52 week low of $87.90 and a 52 week high of $131.01.
In related news, CEO Andrew Wilson sold 9,000 shares of the stock in a transaction that occurred on Tuesday, January 2nd. The shares were sold at an average price of $108.69, for a total value of $978,210.00. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CFO Blake J. Jorgensen sold 10,500 shares of the stock in a transaction that occurred on Tuesday, January 9th. The shares were sold at an average price of $112.85, for a total transaction of $1,184,925.00. Following the completion of the transaction, the chief financial officer now owns 159,114 shares in the company, valued at $17,956,014.90. The disclosure for this sale can be found here. Insiders sold 81,279 shares of company stock worth $9,809,588 over the last 90 days. 2.55% of the stock is currently owned by company insiders.
A number of institutional investors and hedge funds have recently bought and sold shares of EA. Brown Advisory Inc. raised its holdings in Electronic Arts by 25,746.6% in the fourth quarter. Brown Advisory Inc. now owns 2,096,933 shares of the game software company’s stock worth $220,305,000 after purchasing an additional 2,088,820 shares during the period. Egerton Capital UK LLP acquired a new stake in Electronic Arts in the fourth quarter worth $184,412,000. Flossbach Von Storch AG acquired a new stake in Electronic Arts in the fourth quarter worth $139,782,000. Old Mutual Global Investors UK Ltd. raised its holdings in Electronic Arts by 161.6% in the fourth quarter. Old Mutual Global Investors UK Ltd. now owns 1,542,907 shares of the game software company’s stock worth $162,097,000 after purchasing an additional 953,148 shares during the period. Finally, BlackRock Inc. raised its holdings in Electronic Arts by 4.4% in the fourth quarter. BlackRock Inc. now owns 21,297,293 shares of the game software company’s stock worth $2,237,493,000 after purchasing an additional 904,557 shares during the period. Institutional investors own 94.45% of the company’s stock.
ILLEGAL ACTIVITY WARNING: “Electronic Arts (EA) Cut to “Hold” at ValuEngine” was posted by Sports Perspectives and is the sole property of of Sports Perspectives. If you are accessing this story on another website, it was stolen and republished in violation of United States & international copyright & trademark legislation. The correct version of this story can be accessed at https://sportsperspectives.com/2018/03/11/electronic-arts-ea-cut-to-hold-at-valuengine.html.
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.
To view ValuEngine’s full report, visit ValuEngine’s official website.
Receive News & Ratings for Electronic Arts Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Electronic Arts and related companies with MarketBeat.com's FREE daily email newsletter.