Electronic Arts (NASDAQ:EA) Cut to “Hold” at Argus

Electronic Arts (NASDAQ:EA) was downgraded by analysts at Argus from a “buy” rating to a “hold” rating in a report released on Thursday.

Several other brokerages also recently weighed in on EA. Weiss Ratings upgraded Electronic Arts from a “hold (c)” rating to a “hold (c+)” rating in a research note on Monday, May 18th. Citigroup lifted their price target on Electronic Arts from $202.00 to $204.00 and gave the company a “neutral” rating in a research note on Thursday, May 7th. Finally, UBS Group restated a “neutral” rating on shares of Electronic Arts in a research note on Wednesday, February 4th. Two investment analysts have rated the stock with a Buy rating, seventeen have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $196.64.

Electronic Arts Trading Down 0.2%

Shares of EA stock opened at $200.68 on Thursday. The business’s 50 day moving average is $202.03 and its two-hundred day moving average is $202.25. Electronic Arts has a twelve month low of $141.19 and a twelve month high of $204.88. The company has a market capitalization of $50.32 billion, a P/E ratio of 57.50, a price-to-earnings-growth ratio of 2.22 and a beta of 0.66. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 0.22.

Insider Transactions at Electronic Arts

In related news, insider Laura Miele sold 2,500 shares of Electronic Arts stock in a transaction on Monday, March 16th. The stock was sold at an average price of $199.95, for a total transaction of $499,875.00. Following the completion of the transaction, the insider directly owned 45,843 shares of the company’s stock, valued at approximately $9,166,307.85. The trade was a 5.17% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO Andrew Wilson sold 5,066 shares of Electronic Arts stock in a transaction on Thursday, May 21st. The stock was sold at an average price of $201.66, for a total value of $1,021,609.56. Following the transaction, the chief executive officer directly owned 85,974 shares of the company’s stock, valued at approximately $17,337,516.84. This represents a 5.56% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last ninety days, insiders sold 39,906 shares of company stock valued at $8,032,336. Company insiders own 0.24% of the company’s stock.

Hedge Funds Weigh In On Electronic Arts

Hedge funds and other institutional investors have recently bought and sold shares of the company. Ascentis Independent Advisors acquired a new position in Electronic Arts during the first quarter worth $27,000. MV Capital Management Inc. acquired a new position in Electronic Arts during the fourth quarter worth $28,000. Ameriflex Group Inc. raised its holdings in Electronic Arts by 100.0% during the third quarter. Ameriflex Group Inc. now owns 138 shares of the game software company’s stock worth $28,000 after purchasing an additional 69 shares during the last quarter. Oakworth Capital Inc. acquired a new position in Electronic Arts during the third quarter worth $30,000. Finally, Asset Planning Inc acquired a new position in Electronic Arts during the first quarter worth $32,000. 90.23% of the stock is owned by institutional investors and hedge funds.

About Electronic Arts

Electronic Arts Inc (NASDAQ: EA) is a global interactive entertainment company headquartered in Redwood City, California. Founded in 1982 by Trip Hawkins, EA develops, publishes and distributes video games and related content for a variety of platforms, including consoles, personal computers and mobile devices. The company combines in-house development, partnerships and studio acquisitions to create and maintain a portfolio of entertainment properties and live-service experiences for players worldwide.

EA’s product lineup spans several well-known franchises and genres.