Citigroup Has Lowered Expectations for Electronic Arts (NASDAQ:EA) Stock Price

Electronic Arts (NASDAQ:EA) had its price target decreased by stock analysts at Citigroup from $163.00 to $139.00 in a research note issued to investors on Tuesday,Benzinga reports. The brokerage presently has a “neutral” rating on the game software company’s stock. Citigroup’s price objective points to a potential upside of 14.58% from the company’s previous close.

A number of other brokerages have also issued reports on EA. Moffett Nathanson raised Electronic Arts from a “neutral” rating to a “buy” rating and set a $145.00 target price on the stock in a research report on Friday. BMO Capital Markets lowered shares of Electronic Arts from an “outperform” rating to a “market perform” rating and reduced their price objective for the company from $160.00 to $145.00 in a research note on Thursday, January 23rd. Stifel Nicolaus dropped their target price on shares of Electronic Arts from $167.00 to $159.00 and set a “hold” rating on the stock in a research report on Tuesday, January 21st. Wedbush restated an “outperform” rating and issued a $173.00 price target on shares of Electronic Arts in a research report on Thursday, January 23rd. Finally, Argus lifted their price objective on shares of Electronic Arts from $161.00 to $183.00 and gave the stock a “buy” rating in a research report on Thursday, November 7th. Twelve research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $156.38.

Electronic Arts Price Performance

Shares of EA traded down $1.60 during midday trading on Tuesday, reaching $121.31. The stock had a trading volume of 1,314,960 shares, compared to its average volume of 3,967,362. The firm’s 50 day moving average price is $146.84 and its 200-day moving average price is $147.79. Electronic Arts has a 52 week low of $115.21 and a 52 week high of $168.50. The company has a market capitalization of $31.82 billion, a P/E ratio of 31.19, a P/E/G ratio of 2.50 and a beta of 0.79. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.43 and a quick ratio of 1.43.

Insider Activity at Electronic Arts

In other news, EVP Jacob J. Schatz sold 1,500 shares of the firm’s stock in a transaction on Wednesday, January 15th. The stock was sold at an average price of $143.45, for a total value of $215,175.00. Following the completion of the sale, the executive vice president now directly owns 23,386 shares in the company, valued at approximately $3,354,721.70. This trade represents a 6.03 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CEO Andrew Wilson sold 5,000 shares of the company’s stock in a transaction dated Wednesday, November 20th. The stock was sold at an average price of $166.47, for a total transaction of $832,350.00. Following the transaction, the chief executive officer now owns 52,615 shares in the company, valued at approximately $8,758,819.05. This trade represents a 8.68 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 25,000 shares of company stock valued at $3,835,555 in the last 90 days. 0.22% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in EA. Robeco Institutional Asset Management B.V. lifted its stake in Electronic Arts by 51.5% in the fourth quarter. Robeco Institutional Asset Management B.V. now owns 1,099,746 shares of the game software company’s stock valued at $160,893,000 after buying an additional 373,730 shares during the period. abrdn plc increased its stake in shares of Electronic Arts by 59.2% in the 3rd quarter. abrdn plc now owns 858,840 shares of the game software company’s stock valued at $123,484,000 after acquiring an additional 319,335 shares during the last quarter. Caisse DE Depot ET Placement DU Quebec raised its position in shares of Electronic Arts by 8,503.9% in the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 318,085 shares of the game software company’s stock valued at $45,626,000 after acquiring an additional 314,388 shares during the period. Los Angeles Capital Management LLC bought a new position in Electronic Arts during the 3rd quarter worth approximately $40,154,000. Finally, Huntington National Bank boosted its stake in Electronic Arts by 983.4% during the 3rd quarter. Huntington National Bank now owns 257,902 shares of the game software company’s stock worth $36,993,000 after acquiring an additional 234,098 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.