Electronic Arts (NASDAQ:EA) Stock Rating Lowered by Bank of America

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

A number of other research firms also recently issued reports on EA. BMO Capital Markets reiterated an “outperform” rating and set a $160.00 price target (up from $154.00) on shares of Electronic Arts in a research report on Wednesday, October 30th. Roth Mkm lifted their price objective on Electronic Arts from $154.00 to $158.00 and gave the stock a “neutral” rating in a report on Wednesday, October 30th. DZ Bank raised Electronic Arts from a “hold” rating to a “buy” rating and upped their target price for the company from $135.00 to $177.00 in a report on Thursday, October 31st. UBS Group raised their price target on Electronic Arts from $155.00 to $160.00 and gave the company a “neutral” rating in a research report on Wednesday, October 30th. Finally, StockNews.com upgraded shares of Electronic Arts from a “buy” rating to a “strong-buy” rating in a research report on Thursday, October 31st. Eleven equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat, Electronic Arts presently has an average rating of “Moderate Buy” and a consensus price target of $161.79.

Electronic Arts Trading Down 0.6 %

NASDAQ:EA opened at $142.35 on Thursday. The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.43 and a current ratio of 1.43. Electronic Arts has a 1 year low of $124.92 and a 1 year high of $168.50. The stock has a market cap of $37.33 billion, a P/E ratio of 36.59, a P/E/G ratio of 1.88 and a beta of 0.80. The stock has a 50-day simple moving average of $154.24 and a 200-day simple moving average of $149.20.

Insider Buying and Selling

In other Electronic Arts news, CEO Andrew Wilson sold 2,500 shares of the stock in a transaction on Friday, October 25th. The shares were sold at an average price of $145.87, for a total transaction of $364,675.00. Following the sale, the chief executive officer now directly owns 51,747 shares of the company’s stock, valued at approximately $7,548,334.89. This represents a 4.61 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Vijayanthimala Singh sold 1,000 shares of the business’s stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $150.83, for a total transaction of $150,830.00. Following the sale, the insider now directly owns 28,190 shares of the company’s stock, valued at approximately $4,251,897.70. This represents a 3.43 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 28,500 shares of company stock worth $4,351,060. Insiders own 0.22% of the company’s stock.

Institutional Trading of Electronic Arts

Large investors have recently modified their holdings of the company. D. E. Shaw & Co. Inc. boosted its holdings in shares of Electronic Arts by 43.3% in the second quarter. D. E. Shaw & Co. Inc. now owns 1,390,418 shares of the game software company’s stock valued at $193,727,000 after acquiring an additional 420,382 shares in the last quarter. Robeco Institutional Asset Management B.V. grew its stake in shares of Electronic Arts by 51.5% in the 4th quarter. Robeco Institutional Asset Management B.V. now owns 1,099,746 shares of the game software company’s stock worth $160,893,000 after purchasing an additional 373,730 shares during the last quarter. abrdn plc lifted its stake in Electronic Arts by 59.2% during the third quarter. abrdn plc now owns 858,840 shares of the game software company’s stock valued at $123,484,000 after purchasing an additional 319,335 shares during the last quarter. Caisse DE Depot ET Placement DU Quebec lifted its stake in Electronic Arts by 8,503.9% during the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 318,085 shares of the game software company’s stock valued at $45,626,000 after purchasing an additional 314,388 shares during the last quarter. Finally, Los Angeles Capital Management LLC acquired a new position in Electronic Arts in the third quarter worth approximately $40,154,000. Institutional investors and hedge funds own 90.23% of the company’s stock.

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.