Electronic Arts (EA) Lowered to “Strong Sell” at Vetr

Vetr cut shares of Electronic Arts (NASDAQ:EA) from a sell rating to a strong sell rating in a research report sent to investors on Monday morning. Vetr currently has $99.63 target price on the game software company’s stock.

Other analysts have also issued research reports about the stock. Buckingham Research initiated coverage on shares of Electronic Arts in a research report on Wednesday, September 20th. They issued a buy rating and a $143.00 target price on the stock. Benchmark raised their target price on shares of Electronic Arts from $136.00 to $142.00 and gave the company a buy rating in a research report on Wednesday, September 13th. BidaskClub lowered shares of Electronic Arts from a strong-buy rating to a buy rating in a research report on Tuesday, September 12th. Wedbush set a $136.00 target price on shares of Electronic Arts and gave the company a buy rating in a research report on Thursday, October 26th. Finally, Needham & Company LLC restated a buy rating and issued a $130.00 target price on shares of Electronic Arts in a research report on Friday, October 13th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and twenty-four have issued a buy rating to the stock. The stock presently has a consensus rating of Buy and an average target price of $122.37.

Shares of Electronic Arts (EA) traded down $1.04 during trading on Monday, reaching $112.18. 4,111,726 shares of the company’s stock were exchanged, compared to its average volume of 3,730,000. Electronic Arts has a 1 year low of $77.94 and a 1 year high of $122.79. The company has a debt-to-equity ratio of 0.23, a current ratio of 2.38 and a quick ratio of 2.38. The firm has a market capitalization of $34,630.00, a price-to-earnings ratio of 29.60, a P/E/G ratio of 1.85 and a beta of 0.61.

In related news, insider Andrew Wilson sold 10,058 shares of Electronic Arts stock in a transaction on Wednesday, November 1st. The shares were sold at an average price of $113.81, for a total transaction of $1,144,700.98. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Chris Bruzzo sold 1,500 shares of Electronic Arts stock in a transaction on Tuesday, January 2nd. The stock was sold at an average price of $108.51, for a total transaction of $162,765.00. Following the transaction, the executive vice president now directly owns 38,362 shares of the company’s stock, valued at approximately $4,162,660.62. The disclosure for this sale can be found here. Insiders have sold 57,016 shares of company stock valued at $6,172,470 in the last ninety days. Insiders own 2.55% of the company’s stock.

A number of hedge funds and other institutional investors have recently made changes to their positions in EA. Renaissance Technologies LLC raised its stake in Electronic Arts by 928.4% during the second quarter. Renaissance Technologies LLC now owns 2,586,064 shares of the game software company’s stock worth $273,399,000 after buying an additional 2,334,600 shares during the last quarter. Assenagon Asset Management S.A. bought a new position in Electronic Arts during the third quarter worth $148,789,000. Arrowstreet Capital Limited Partnership raised its stake in Electronic Arts by 145.2% during the second quarter. Arrowstreet Capital Limited Partnership now owns 1,208,784 shares of the game software company’s stock worth $127,793,000 after buying an additional 715,862 shares during the last quarter. Janus Henderson Group PLC raised its stake in Electronic Arts by 65.0% during the second quarter. Janus Henderson Group PLC now owns 1,425,278 shares of the game software company’s stock worth $150,688,000 after buying an additional 561,322 shares during the last quarter. Finally, Point72 Asset Management L.P. raised its stake in Electronic Arts by 49.6% during the third quarter. Point72 Asset Management L.P. now owns 1,570,034 shares of the game software company’s stock worth $185,358,000 after buying an additional 520,560 shares during the last quarter. 93.51% of the stock is owned by institutional investors and hedge funds.

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Electronic Arts Company Profile

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.

To view Vetr’s full report, visit Vetr’s official website.

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