Electronic Arts (NASDAQ:EA) Earns Outperform Rating from Wedbush

Wedbush restated their outperform rating on shares of Electronic Arts (NASDAQ:EA) in a report released on Thursday morning, Benzinga reports. The firm currently has a $162.00 target price on the game software company’s stock.

Several other brokerages also recently issued reports on EA. Benchmark reiterated a buy rating and set a $153.00 price target on shares of Electronic Arts in a research report on Thursday, April 18th. Stifel Nicolaus raised their price target on shares of Electronic Arts from $152.00 to $155.00 and gave the company a buy rating in a report on Thursday, January 18th. BMO Capital Markets initiated coverage on Electronic Arts in a report on Tuesday, January 9th. They set an outperform rating and a $160.00 price objective on the stock. UBS Group decreased their price objective on Electronic Arts from $146.00 to $143.00 and set a neutral rating on the stock in a research report on Wednesday, March 27th. Finally, Roth Mkm dropped their target price on Electronic Arts from $140.00 to $135.00 and set a neutral rating for the company in a research report on Wednesday. Eight analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of Moderate Buy and an average target price of $146.72.

Electronic Arts Price Performance

NASDAQ:EA traded up $1.06 on Thursday, reaching $129.56. The stock had a trading volume of 1,650,180 shares, compared to its average volume of 1,685,682. The company has a market capitalization of $34.64 billion, a P/E ratio of 32.63, a price-to-earnings-growth ratio of 1.73 and a beta of 0.78. The stock has a fifty day moving average price of $131.99 and a 200-day moving average price of $134.43. The company has a quick ratio of 1.33, a current ratio of 1.33 and a debt-to-equity ratio of 0.25. Electronic Arts has a 1-year low of $117.47 and a 1-year high of $144.53.

Insiders Place Their Bets

In other Electronic Arts news, COO Laura Miele sold 2,000 shares of the business’s stock in a transaction dated Wednesday, May 1st. The stock was sold at an average price of $128.15, for a total value of $256,300.00. Following the completion of the transaction, the chief operating officer now directly owns 32,772 shares of the company’s stock, valued at $4,199,731.80. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other Electronic Arts news, COO Laura Miele sold 2,000 shares of Electronic Arts stock in a transaction that occurred on Wednesday, May 1st. The shares were sold at an average price of $128.15, for a total value of $256,300.00. Following the transaction, the chief operating officer now owns 32,772 shares of the company’s stock, valued at $4,199,731.80. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Andrew Wilson sold 2,500 shares of the company’s stock in a transaction that occurred on Monday, February 26th. The shares were sold at an average price of $142.39, for a total transaction of $355,975.00. Following the completion of the transaction, the chief executive officer now owns 28,430 shares of the company’s stock, valued at approximately $4,048,147.70. The disclosure for this sale can be found here. Over the last three months, insiders have sold 37,144 shares of company stock worth $5,087,143. Company insiders own 0.20% of the company’s stock.

Institutional Investors Weigh In On Electronic Arts

Several institutional investors and hedge funds have recently added to or reduced their stakes in EA. WBI Investments LLC lifted its stake in Electronic Arts by 246.5% in the first quarter. WBI Investments LLC now owns 27,833 shares of the game software company’s stock valued at $3,693,000 after acquiring an additional 19,800 shares during the last quarter. Mediolanum International Funds Ltd bought a new stake in shares of Electronic Arts in the first quarter valued at approximately $11,813,000. RIA Advisory Group LLC acquired a new stake in shares of Electronic Arts during the 1st quarter worth $627,000. BI Asset Management Fondsmaeglerselskab A S increased its position in shares of Electronic Arts by 82.6% in the first quarter. BI Asset Management Fondsmaeglerselskab A S now owns 25,074 shares of the game software company’s stock worth $3,327,000 after purchasing an additional 11,343 shares during the period. Finally, Lorne Steinberg Wealth Management Inc. increased its holdings in Electronic Arts by 0.3% in the 1st quarter. Lorne Steinberg Wealth Management Inc. now owns 43,750 shares of the game software company’s stock valued at $5,804,000 after buying an additional 117 shares during the period. 90.23% of the stock is owned by institutional investors.

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.