Oppenheimer Lowers Electronic Arts (NASDAQ:EA) Price Target to $165.00

Electronic Arts (NASDAQ:EA) had its price objective lowered by analysts at Oppenheimer from $170.00 to $165.00 in a report issued on Tuesday,Benzinga reports. The brokerage presently has an “outperform” rating on the game software company’s stock. Oppenheimer’s price objective points to a potential upside of 15.63% from the company’s previous close.

A number of other brokerages have also recently commented on EA. BNP Paribas raised shares of Electronic Arts to a “strong-buy” rating in a research note on Wednesday, October 9th. Robert W. Baird lifted their price objective on shares of Electronic Arts from $170.00 to $175.00 and gave the company an “outperform” rating in a report on Wednesday, October 30th. UBS Group raised their target price on Electronic Arts from $155.00 to $160.00 and gave the company a “neutral” rating in a research report on Wednesday, October 30th. Stifel Nicolaus reduced their price target on Electronic Arts from $167.00 to $159.00 and set a “hold” rating for the company in a report on Tuesday. Finally, Argus raised their price objective on Electronic Arts from $161.00 to $183.00 and gave the company a “buy” rating in a report on Thursday, November 7th. Eight research analysts have rated the stock with a hold rating, eleven have issued a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $164.68.

Electronic Arts Stock Performance

NASDAQ EA traded up $0.70 on Tuesday, hitting $142.70. 1,050,576 shares of the company’s stock traded hands, compared to its average volume of 2,054,305. The firm has a market capitalization of $37.42 billion, a PE ratio of 36.66, a P/E/G ratio of 1.86 and a beta of 0.80. Electronic Arts has a 1-year low of $124.92 and a 1-year high of $168.50. The firm’s 50-day moving average price is $155.04 and its two-hundred day moving average price is $149.21. The company has a current ratio of 1.43, a quick ratio of 1.43 and a debt-to-equity ratio of 0.25.

Insider Activity at Electronic Arts

In other news, EVP Jacob J. Schatz sold 1,500 shares of the business’s stock in a transaction dated Wednesday, January 15th. The shares were sold at an average price of $143.45, for a total transaction of $215,175.00. Following the transaction, the executive vice president now directly owns 23,386 shares in the company, valued at $3,354,721.70. The trade was a 6.03 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Vijayanthimala Singh sold 1,000 shares of the firm’s stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $150.83, for a total value of $150,830.00. Following the completion of the sale, the insider now directly owns 28,190 shares of the company’s stock, valued at $4,251,897.70. This represents a 3.43 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 23,500 shares of company stock worth $3,637,660 in the last 90 days. 0.22% of the stock is owned by insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Frank Rimerman Advisors LLC grew its position in shares of Electronic Arts by 8,641.4% in the second quarter. Frank Rimerman Advisors LLC now owns 2,535 shares of the game software company’s stock valued at $353,000 after purchasing an additional 2,506 shares during the last quarter. EverSource Wealth Advisors LLC grew its holdings in Electronic Arts by 28.3% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,386 shares of the game software company’s stock valued at $209,000 after buying an additional 306 shares during the last quarter. Public Sector Pension Investment Board lifted its holdings in shares of Electronic Arts by 97.6% during the 2nd quarter. Public Sector Pension Investment Board now owns 7,969 shares of the game software company’s stock worth $1,110,000 after acquiring an additional 3,936 shares during the period. Evergreen Capital Management LLC boosted its position in shares of Electronic Arts by 0.7% in the second quarter. Evergreen Capital Management LLC now owns 22,946 shares of the game software company’s stock worth $3,197,000 after acquiring an additional 159 shares during the last quarter. Finally, Providence Capital Advisors LLC increased its position in Electronic Arts by 0.5% during the second quarter. Providence Capital Advisors LLC now owns 43,315 shares of the game software company’s stock worth $6,035,000 after purchasing an additional 200 shares during the last quarter. 90.23% of the stock is currently owned by institutional investors and hedge funds.

About Electronic Arts

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.