Trading Report: Today, Vetr Inc. Downgrade Electronic Arts Inc. (EA) to Hold

Today, Vetr Inc. Downgrade Electronic Arts Inc. (EA) to Hold

Vetr downgraded shares of Electronic Arts Inc. (NASDAQ:EA) from a buy rating to a hold rating in a research note released on Monday. Vetr currently has $81.97 price target on the game software company’s stock.

A number of other research firms also recently weighed in on EA. Oppenheimer Holdings Inc. reaffirmed an outperform rating and issued a $88.00 target price on shares of Electronic Arts in a research report on Wednesday, August 3rd. MKM Partners upped their target price on shares of Electronic Arts from $87.00 to $88.00 and gave the stock a buy rating in a research report on Wednesday, August 3rd. Mizuho reaffirmed a buy rating and issued a $84.00 target price on shares of Electronic Arts in a research report on Wednesday, August 3rd. Barclays PLC reaffirmed an overweight rating and issued a $94.00 target price (up from $88.00) on shares of Electronic Arts in a research report on Thursday, November 3rd. Finally, Stifel Nicolaus increased their price objective on shares of Electronic Arts from $87.00 to $88.00 and gave the company a buy rating in a research report on Monday, October 17th. Seven analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the company’s stock. The stock has a consensus rating of Buy and an average target price of $89.11.

Electronic Arts (NASDAQ:EA) opened at 79.35 on Monday. The company’s 50 day moving average is $80.96 and its 200-day moving average is $78.82. The company has a market capitalization of $23.94 billion, a price-to-earnings ratio of 20.22 and a beta of 0.58. Electronic Arts has a 52-week low of $53.01 and a 52-week high of $86.07.

Electronic Arts (NASDAQ:EA) last issued its quarterly earnings data on Tuesday, November 1st. The game software company reported ($0.13) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.43 by $0.56. Electronic Arts had a return on equity of 23.03% and a net margin of 27.62%. The company earned $1.10 billion during the quarter, compared to the consensus estimate of $1.08 billion. During the same quarter last year, the company posted $0.65 earnings per share. The firm’s revenue for the quarter was up 10.2% compared to the same quarter last year. Equities analysts anticipate that Electronic Arts will post $3.70 EPS for the current fiscal year.

In related news, CEO Andrew Wilson sold 50,000 shares of the firm’s stock in a transaction on Tuesday, September 27th. The shares were sold at an average price of $85.03, for a total value of $4,251,500.00. Following the completion of the transaction, the chief executive officer now directly owns 290,581 shares of the company’s stock, valued at $24,708,102.43. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CFO Blake J. Jorgensen sold 10,100 shares of the firm’s stock in a transaction on Wednesday, September 21st. The shares were sold at an average price of $83.21, for a total transaction of $840,421.00. Following the completion of the transaction, the chief financial officer now directly owns 113,410 shares of the company’s stock, valued at $9,436,846.10. The disclosure for this sale can be found here. Insiders own 3.46% of the company’s stock.

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. FMR LLC raised its position in Electronic Arts by 13.6% in the second quarter. FMR LLC now owns 29,807,407 shares of the game software company’s stock valued at $2,258,208,000 after buying an additional 3,570,117 shares during the last quarter. JPMorgan Chase & Co. raised its position in Electronic Arts by 46.3% in the third quarter. JPMorgan Chase & Co. now owns 7,478,959 shares of the game software company’s stock valued at $639,284,000 after buying an additional 2,367,576 shares during the last quarter. Lone Pine Capital LLC raised its position in Electronic Arts by 86.1% in the second quarter. Lone Pine Capital LLC now owns 3,555,356 shares of the game software company’s stock valued at $269,354,000 after buying an additional 1,644,713 shares during the last quarter. Massachusetts Financial Services Co. MA raised its position in Electronic Arts by 30.6% in the second quarter. Massachusetts Financial Services Co. MA now owns 4,818,390 shares of the game software company’s stock valued at $365,042,000 after buying an additional 1,130,252 shares during the last quarter. Finally, TimesSquare Capital Management LLC purchased a new position in Electronic Arts during the second quarter valued at approximately $69,889,000. 97.22% of the stock is owned by hedge funds and other institutional investors.

Electronic Arts Company Profile

Electronic Arts Inc develops, markets, publishes and distributes games, content and services that can be played by consumers on a range of platforms, which include consoles, personal computers (PCs), mobile phones and tablets. The Company’s games and services are based on a portfolio of intellectual property that includes established brands, such as FIFA, Madden NFL, Star Wars, Battlefield, the Sims and Need for Speed.

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