Electronic Arts (NASDAQ:EA) Cut to Neutral at Bank of America

Electronic Arts (NASDAQ:EA) was downgraded by research analysts at Bank of America from a “buy” rating to a “neutral” rating in a research note issued to investors on Thursday,Briefing.com Automated Import reports. They currently have a $130.00 price target on the game software company’s stock, down from their prior price target of $170.00. Bank of America‘s price target suggests a potential downside of 8.68% from the company’s previous close.

A number of other research firms have also commented on EA. Roth Mkm raised their price objective on shares of Electronic Arts from $154.00 to $158.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 30th. Robert W. Baird raised their target price on Electronic Arts from $170.00 to $175.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 30th. DZ Bank raised Electronic Arts from a “hold” rating to a “buy” rating and upped their price target for the company from $135.00 to $177.00 in a research report on Thursday, October 31st. UBS Group raised their price objective on Electronic Arts from $155.00 to $160.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 30th. Finally, Oppenheimer dropped their target price on Electronic Arts from $170.00 to $165.00 and set an “outperform” rating on the stock in a report on Tuesday. Eleven investment analysts have rated the stock with a hold rating, eight have given a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, Electronic Arts currently has an average rating of “Moderate Buy” and a consensus price target of $161.79.

Electronic Arts Stock Performance

Shares of EA opened at $142.35 on Thursday. The company has a 50-day moving average of $154.24 and a two-hundred day moving average of $149.20. The stock has a market cap of $37.33 billion, a price-to-earnings ratio of 36.59, a PEG ratio of 1.88 and a beta of 0.80. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.43 and a quick ratio of 1.43. Electronic Arts has a one year low of $124.92 and a one year high of $168.50.

Insider Activity

In other Electronic Arts news, CEO Andrew Wilson sold 2,500 shares of the company’s stock in a transaction dated Friday, October 25th. The shares were sold at an average price of $145.87, for a total transaction of $364,675.00. Following the completion of the sale, the chief executive officer now directly owns 51,747 shares in the company, valued at $7,548,334.89. This represents a 4.61 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Jacob J. Schatz sold 1,500 shares of the firm’s stock in a transaction dated Wednesday, January 15th. The shares were sold at an average price of $143.45, for a total value of $215,175.00. Following the completion of the sale, the executive vice president now directly owns 23,386 shares in the company, valued at approximately $3,354,721.70. This represents a 6.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 28,500 shares of company stock valued at $4,351,060. Insiders own 0.22% of the company’s stock.

Institutional Investors Weigh In On Electronic Arts

Several hedge funds have recently modified their holdings of EA. Ashton Thomas Securities LLC bought a new stake in shares of Electronic Arts in the third quarter valued at about $25,000. Pinnacle Bancorp Inc. lifted its position in shares of Electronic Arts by 141.0% in the 4th quarter. Pinnacle Bancorp Inc. now owns 200 shares of the game software company’s stock worth $29,000 after acquiring an additional 117 shares during the period. Reston Wealth Management LLC acquired a new stake in shares of Electronic Arts during the 3rd quarter worth approximately $36,000. Bruce G. Allen Investments LLC increased its position in shares of Electronic Arts by 156.6% during the third quarter. Bruce G. Allen Investments LLC now owns 272 shares of the game software company’s stock valued at $39,000 after purchasing an additional 166 shares during the period. Finally, Larson Financial Group LLC raised its stake in shares of Electronic Arts by 31.8% in the third quarter. Larson Financial Group LLC now owns 290 shares of the game software company’s stock valued at $42,000 after purchasing an additional 70 shares in the last quarter. 90.23% of the stock is owned by institutional investors.

Electronic Arts Company Profile

Electronic Arts Inc develops, markets, publishes, and distributes games, content, and services for game consoles, PCs, mobile phones, and tablets worldwide. It develops and publishes games and services across various genres, such as sports, racing, first-person shooter, action, role-playing, and simulation primarily under the Battlefield, The Sims, Apex Legends, Need for Speed, and license games from others, including FIFA, Madden NFL, UFC, and Star Wars brands.