Today, Electronic Arts Inc. (EA) Lowered by Vetr Inc.

Today, Electronic Arts Inc. (EA) Lowered by Vetr Inc.
Electronic Arts Inc. (NASDAQ:EA) was downgraded by investment analysts at Vetr from a “buy” rating to a “hold” rating in a report released on Monday. They currently have a $81.97 price target on the game software company’s stock. Vetr‘s price target points to a potential upside of 3.30% from the stock’s previous close.

Several other analysts also recently commented on the stock. Mizuho reissued a “buy” rating and set a $84.00 price objective on shares of Electronic Arts in a research report on Wednesday, August 3rd. MKM Partners raised their price target on shares of Electronic Arts from $87.00 to $88.00 and gave the company a “buy” rating in a report on Wednesday, August 3rd. Jefferies Group reiterated a “buy” rating on shares of Electronic Arts in a research note on Monday, August 1st. Bank of America Corp. reiterated a “buy” rating on shares of Electronic Arts in a research note on Friday, September 16th. Finally, Stifel Nicolaus increased their price objective on shares of Electronic Arts from $83.00 to $87.00 and gave the stock a “buy” rating in a research note on Monday, September 12th. Seven equities research 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. Electronic Arts has an average rating of “Buy” and an average target price of $89.11.

Shares of Electronic Arts (NASDAQ:EA) traded down 0.23% during mid-day trading on Monday, reaching $79.17. 780,845 shares of the company’s stock traded hands. The firm’s 50 day moving average price is $80.96 and its 200-day moving average price is $78.82. Electronic Arts has a 12-month low of $53.01 and a 12-month high of $86.07. The stock has a market cap of $23.89 billion, a price-to-earnings ratio of 20.18 and a beta of 0.58.

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

In other news, EVP Patrick Soderlund sold 8,000 shares of the company’s stock in a transaction that occurred on Thursday, September 1st. The stock was sold at an average price of $81.38, for a total transaction of $651,040.00. Following the completion of the transaction, the executive vice president now directly owns 138,370 shares of the company’s stock, valued at approximately $11,260,550.60. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CEO Andrew Wilson sold 50,000 shares of the 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 disclosure for this sale can be found here. 3.46% of the stock is owned by corporate insiders.

Hedge funds and other institutional investors have recently bought and sold shares of the stock. FMR LLC increased 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 in the last quarter. Vanguard Group Inc. increased its position in Electronic Arts by 0.8% in the second quarter. Vanguard Group Inc. now owns 26,751,707 shares of the game software company’s stock valued at $2,026,708,000 after buying an additional 202,429 shares in the last quarter. Ameriprise Financial Inc. increased its position in Electronic Arts by 2.2% in the second quarter. Ameriprise Financial Inc. now owns 11,877,969 shares of the game software company’s stock valued at $899,870,000 after buying an additional 254,752 shares in the last quarter. BlackRock Institutional Trust Company N.A. increased its position in Electronic Arts by 2.4% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 8,194,060 shares of the game software company’s stock valued at $620,782,000 after buying an additional 191,899 shares in the last quarter. Finally, JPMorgan Chase & Co. increased 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 in the last quarter. 97.22% of the stock is owned by hedge funds and other institutional investors.

About Electronic Arts

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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