Electronic Arts (NASDAQ:EA) Cut to Neutral at Bank of America

Electronic Arts (NASDAQ:EA) was downgraded by equities research analysts at Bank of America from a “buy” rating to a “neutral” rating in a report issued on Thursday, Marketbeat reports. They currently have a $130.00 target price on the game software company’s stock, down from their prior target price of $170.00. Bank of America‘s price objective suggests a potential upside of 11.53% from the stock’s current price.

EA has been the subject of a number of other reports. StockNews.com upgraded Electronic Arts from a “buy” rating to a “strong-buy” rating in a research note on Thursday, October 31st. Benchmark reissued a “buy” rating and set a $163.00 price target on shares of Electronic Arts in a research report on Wednesday, October 30th. DZ Bank raised shares of Electronic Arts from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $135.00 to $177.00 in a report on Thursday, October 31st. BNP Paribas raised shares of Electronic Arts to a “strong-buy” rating in a report on Wednesday, October 9th. Finally, Oppenheimer decreased their price target on shares of Electronic Arts from $170.00 to $165.00 and set an “outperform” rating for the company in a report on Tuesday. Eleven research analysts have rated the stock with a hold rating, eight have issued a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $159.79.

Electronic Arts Trading Down 1.7 %

EA opened at $116.56 on Thursday. The stock has a market capitalization of $30.57 billion, a PE ratio of 29.96, a P/E/G ratio of 1.87 and a beta of 0.80. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.43 and a quick ratio of 1.43. Electronic Arts has a 12-month low of $115.21 and a 12-month high of $168.50. The firm’s fifty day moving average price is $152.43 and its 200 day moving average price is $148.83.

Insider Transactions at Electronic Arts

In related news, EVP Jacob J. Schatz sold 1,500 shares of the business’s stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $163.30, for a total transaction of $244,950.00. Following the sale, the executive vice president now owns 23,360 shares of the company’s stock, valued at $3,814,688. The trade was a 6.03 % 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, CEO Andrew Wilson sold 5,000 shares of the stock in a transaction on Tuesday, January 21st. The shares were sold at an average price of $142.68, for a total value of $713,400.00. Following the transaction, the chief executive officer now directly owns 42,615 shares of the company’s stock, valued at approximately $6,080,308.20. The trade was a 10.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 26,000 shares of company stock valued at $3,986,385. 0.22% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. Ashton Thomas Securities LLC acquired a new position in Electronic Arts during the third quarter worth about $25,000. Pinnacle Bancorp Inc. boosted its position in shares of Electronic Arts by 141.0% during the 4th quarter. Pinnacle Bancorp Inc. now owns 200 shares of the game software company’s stock valued at $29,000 after purchasing an additional 117 shares in the last quarter. Reston Wealth Management LLC acquired a new stake in Electronic Arts during the third quarter valued at approximately $36,000. Bruce G. Allen Investments LLC lifted its stake in Electronic Arts by 156.6% during the third quarter. Bruce G. Allen Investments LLC now owns 272 shares of the game software company’s stock valued at $39,000 after purchasing an additional 166 shares during the last quarter. Finally, Larson Financial Group LLC grew its position in Electronic Arts by 31.8% in the third quarter. Larson Financial Group LLC now owns 290 shares of the game software company’s stock worth $42,000 after buying an additional 70 shares during the last quarter. Institutional investors 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.