Electronic Arts (NASDAQ:EA) Stock Rating Lowered by Zacks Research

Electronic Arts (NASDAQ:EA) was downgraded by investment analysts at Zacks Research from a “hold” rating to a “strong sell” rating in a research report issued on Monday,Zacks.com reports.

Other equities research analysts have also recently issued research reports about the stock. Weiss Ratings raised shares of Electronic Arts from a “hold (c)” rating to a “hold (c+)” rating in a research note on Monday, May 18th. Argus downgraded shares of Electronic Arts from a “buy” rating to a “hold” rating in a research note on Thursday, May 28th. Citigroup boosted their price target on shares of Electronic Arts from $202.00 to $204.00 and gave the stock a “neutral” rating in a research report on Thursday, May 7th. Finally, Wall Street Zen raised shares of Electronic Arts to a “hold” rating in a research note on Saturday, June 6th. Two equities research analysts have rated the stock with a Buy rating, sixteen have issued a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $196.64.

Electronic Arts Stock Performance

Shares of NASDAQ:EA opened at $206.65 on Monday. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.05 and a quick ratio of 1.05. Electronic Arts has a 1 year low of $146.97 and a 1 year high of $206.82. The firm has a market capitalization of $51.82 billion, a PE ratio of 59.21, a P/E/G ratio of 2.31 and a beta of 0.64. The business’s 50 day moving average price is $202.94 and its 200-day moving average price is $202.56.

Insider Activity

In other news, insider Laura Miele sold 2,500 shares of the business’s stock in a transaction dated Monday, June 15th. The shares were sold at an average price of $203.10, for a total transaction of $507,750.00. Following the transaction, the insider owned 73,513 shares of the company’s stock, valued at approximately $14,930,490.30. The trade was a 3.29% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Jacob J. Schatz sold 5,000 shares of the company’s stock in a transaction dated Wednesday, May 20th. The shares were sold at an average price of $201.19, for a total transaction of $1,005,950.00. Following the completion of the sale, the executive vice president directly owned 42,287 shares of the company’s stock, valued at $8,507,721.53. This represents a 10.57% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last 90 days, insiders have sold 31,206 shares of company stock worth $6,292,058. Insiders own 0.24% of the company’s stock.

Institutional Trading of Electronic Arts

Several hedge funds have recently made changes to their positions in the company. Brighton Jones LLC grew its holdings in shares of Electronic Arts by 9.4% during the 4th quarter. Brighton Jones LLC now owns 3,420 shares of the game software company’s stock worth $500,000 after purchasing an additional 294 shares during the period. Empowered Funds LLC raised its holdings in Electronic Arts by 167.0% in the 1st quarter. Empowered Funds LLC now owns 19,306 shares of the game software company’s stock valued at $2,790,000 after buying an additional 12,076 shares during the period. Geneos Wealth Management Inc. lifted its position in Electronic Arts by 150.8% in the first quarter. Geneos Wealth Management Inc. now owns 316 shares of the game software company’s stock valued at $46,000 after buying an additional 190 shares during the last quarter. Jump Financial LLC purchased a new position in Electronic Arts during the second quarter worth about $2,323,000. Finally, NewEdge Advisors LLC increased its position in shares of Electronic Arts by 96.4% during the second quarter. NewEdge Advisors LLC now owns 3,067 shares of the game software company’s stock valued at $490,000 after acquiring an additional 1,505 shares during the last quarter. Hedge funds and other institutional investors own 90.23% of the company’s stock.

About Electronic Arts

Electronic Arts Inc (NASDAQ: EA) is a global interactive entertainment company headquartered in Redwood City, California. Founded in 1982 by Trip Hawkins, EA develops, publishes and distributes video games and related content for a variety of platforms, including consoles, personal computers and mobile devices. The company combines in-house development, partnerships and studio acquisitions to create and maintain a portfolio of entertainment properties and live-service experiences for players worldwide.

EA’s product lineup spans several well-known franchises and genres.