Electronic Arts (NASDAQ:EA) Price Target Raised to $183.00

by · The Markets Daily

Electronic Arts (NASDAQ:EA – Free Report) had its price objective increased by Argus from $161.00 to $183.00 in a research note published on Thursday,Benzinga reports. Argus currently has a buy rating on the game software company’s stock.

EA has been the topic of a number of other research reports. Oppenheimer lifted their price target on shares of Electronic Arts from $150.00 to $170.00 and gave the company an “outperform” rating in a research note on Tuesday, July 16th. Wedbush reaffirmed an “outperform” rating and issued a $170.00 price objective on shares of Electronic Arts in a research report on Friday, October 25th. Citigroup cut Electronic Arts from a “buy” rating to a “neutral” rating and increased their target price for the stock from $148.00 to $161.00 in a report on Monday, July 15th. Morgan Stanley restated an “equal weight” rating and issued a $150.00 price target on shares of Electronic Arts in a report on Wednesday, September 18th. Finally, Robert W. Baird increased their price objective on Electronic Arts from $170.00 to $175.00 and gave the stock an “outperform” rating in a report on Wednesday, October 30th. Eight research analysts have rated the stock with a hold rating, twelve have given a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $165.37.

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Electronic Arts Trading Down 1.3 %

Shares of Electronic Arts stock traded down $2.09 during trading hours on Thursday, hitting $157.91. The company’s stock had a trading volume of 1,373,585 shares, compared to its average volume of 2,056,583. The company has a market capitalization of $41.42 billion, a PE ratio of 41.13, a price-to-earnings-growth ratio of 2.00 and a beta of 0.78. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.43 and a quick ratio of 1.45. The stock has a 50 day moving average of $145.54 and a 200 day moving average of $141.03. Electronic Arts has a 12 month low of $124.92 and a 12 month high of $160.31.

Electronic Arts Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 18th. Stockholders of record on Wednesday, November 27th will be given a $0.19 dividend. The ex-dividend date is Wednesday, November 27th. This represents a $0.76 dividend on an annualized basis and a dividend yield of 0.48%. Electronic Arts’s payout ratio is 19.54%.

Insider Buying and Selling

In other Electronic Arts news, insider Laura Miele sold 2,500 shares of the firm’s stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $158.03, for a total transaction of $395,075.00. Following the transaction, the insider now owns 50,433 shares in the company, valued at $7,969,926.99. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, insider Vijayanthimala Singh sold 7,384 shares of the firm’s stock in a transaction on Wednesday, August 28th. The shares were sold at an average price of $149.91, for a total transaction of $1,106,935.44. Following the completion of the transaction, the insider now owns 31,190 shares of the company’s stock, valued at approximately $4,675,692.90. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Laura Miele sold 2,500 shares of the business’s stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $158.03, for a total transaction of $395,075.00. Following the completion of the sale, the insider now directly owns 50,433 shares in the company, valued at approximately $7,969,926.99. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 26,144 shares of company stock valued at $3,886,282. 0.22% of the stock is owned by insiders.

Hedge Funds Weigh In On Electronic Arts

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Duality Advisers LP acquired a new position in Electronic Arts in the first quarter valued at approximately $1,711,000. State Board of Administration of Florida Retirement System increased its stake in Electronic Arts by 13.5% in the first quarter. State Board of Administration of Florida Retirement System now owns 348,670 shares of the game software company’s stock valued at $46,258,000 after purchasing an additional 41,567 shares in the last quarter. Vanguard Group Inc. raised its holdings in shares of Electronic Arts by 14.7% during the first quarter. Vanguard Group Inc. now owns 29,159,718 shares of the game software company’s stock valued at $3,868,620,000 after purchasing an additional 3,727,251 shares during the period. Park Avenue Securities LLC grew its stake in shares of Electronic Arts by 34.9% in the 2nd quarter. Park Avenue Securities LLC now owns 14,227 shares of the game software company’s stock valued at $1,982,000 after buying an additional 3,681 shares during the period. Finally, Greenwood Capital Associates LLC bought a new stake in Electronic Arts in the 3rd quarter valued at about $5,597,000. 90.23% of the stock is owned by institutional investors and hedge funds.

About Electronic Arts

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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.

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