Investors Buy Electronic Arts (EA) on Weakness Following Insider Selling

Traders bought shares of Electronic Arts Inc. (NASDAQ:EA) on weakness during trading on Friday following insider selling activity. $62.38 million flowed into the stock on the tick-up and $45.00 million flowed out of the stock on the tick-down, for a money net flow of $17.38 million into the stock. Of all equities tracked, Electronic Arts had the 24th highest net in-flow for the day. Electronic Arts traded down ($1.95) for the day and closed at $106.02Specifically, EVP Chris Bruzzo sold 1,500 shares of the firm’s stock in a transaction on Monday, October 2nd. The shares were sold at an average price of $118.10, for a total value of $177,150.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Andrew Wilson sold 10,058 shares of the firm’s stock in a transaction on Monday, October 2nd. The stock was sold at an average price of $118.04, for a total transaction of $1,187,246.32. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 67,874 shares of company stock valued at $7,559,021. 2.55% of the stock is owned by insiders.

EA has been the subject of several recent research reports. KeyCorp reissued a “buy” rating and set a $134.00 target price on shares of Electronic Arts in a report on Friday, August 25th. Jefferies Group restated a “buy” rating and set a $135.00 price target on shares of Electronic Arts in a research report on Thursday, August 31st. BidaskClub upgraded shares of Electronic Arts from a “buy” rating to a “strong-buy” rating in a research report on Friday, September 1st. Cowen restated a “hold” rating and set a $106.00 price target on shares of Electronic Arts in a research report on Friday, September 8th. Finally, Goldman Sachs Group began coverage on shares of Electronic Arts in a research report on Friday, September 8th. They set a “buy” rating and a $136.00 price target on the stock. Six research analysts have rated the stock with a hold rating and twenty-four have given a buy rating to the stock. Electronic Arts presently has a consensus rating of “Buy” and an average target price of $123.19.

The stock has a market capitalization of $33,394.51, a PE ratio of 27.90, a price-to-earnings-growth ratio of 1.78 and a beta of 0.61. The company has a quick ratio of 2.38, a current ratio of 2.38 and a debt-to-equity ratio of 0.23.

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Bessemer Group Inc. raised its stake in Electronic Arts by 144.5% during the third quarter. Bessemer Group Inc. now owns 1,325 shares of the game software company’s stock worth $157,000 after purchasing an additional 783 shares during the period. Tower Research Capital LLC TRC raised its stake in Electronic Arts by 310.8% during the second quarter. Tower Research Capital LLC TRC now owns 1,405 shares of the game software company’s stock worth $149,000 after purchasing an additional 1,063 shares during the period. Dupont Capital Management Corp purchased a new position in Electronic Arts during the third quarter worth about $183,000. GHP Investment Advisors Inc. purchased a new position in Electronic Arts during the third quarter worth about $202,000. Finally, Texas Yale Capital Corp. purchased a new position in Electronic Arts during the third quarter worth about $205,000. Hedge funds and other institutional investors own 93.51% of the company’s stock.

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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.

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