Electronic Arts (EA) Downgraded by Vetr to “Strong Sell”

Vetr cut shares of Electronic Arts (NASDAQ:EA) from a sell rating to a strong sell rating in a research note issued to investors on Monday morning. Vetr currently has $99.63 target price on the game software company’s stock.

Other research analysts have also recently issued reports about the stock. Morgan Stanley reissued an overweight rating and set a $128.00 price target (up from $126.00) on shares of Electronic Arts in a research report on Monday, October 2nd. Needham & Company LLC reissued a buy rating and set a $130.00 price target on shares of Electronic Arts in a research report on Friday, October 13th. Robert W. Baird reissued a buy rating and set a $130.00 price target on shares of Electronic Arts in a research report on Wednesday, November 1st. Zacks Investment Research cut shares of Electronic Arts from a buy rating to a hold rating in a research report on Thursday, November 2nd. Finally, Cowen reissued a hold rating and set a $104.00 price target on shares of Electronic Arts in a research report on Thursday, December 21st. Two research analysts have rated the stock with a sell rating, five have issued a hold rating and twenty-three have issued a buy rating to the stock. The stock presently has a consensus rating of Buy and an average target price of $122.26.

Shares of Electronic Arts (EA) traded up $1.13 during midday trading on Monday, reaching $113.13. 3,467,371 shares of the company were exchanged, compared to its average volume of 3,887,844. Electronic Arts has a one year low of $78.89 and a one year high of $122.79. The stock has a market cap of $34,930.00, a PE ratio of 29.85, a P/E/G ratio of 1.85 and a beta of 0.61. The company has a debt-to-equity ratio of 0.23, a quick ratio of 2.38 and a current ratio of 2.38.

In other news, SVP Jacob J. Schatz sold 1,000 shares of Electronic Arts stock in a transaction that occurred on Friday, October 20th. The shares were sold at an average price of $113.60, for a total value of $113,600.00. Following the completion of the sale, the senior vice president now directly owns 20,950 shares in the company, valued at $2,379,920. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Blake J. Jorgensen sold 10,000 shares of Electronic Arts stock in a transaction that occurred on Tuesday, December 5th. The stock was sold at an average price of $100.27, for a total transaction of $1,002,700.00. Following the completion of the sale, the chief financial officer now owns 169,614 shares of the company’s stock, valued at $17,007,195.78. The disclosure for this sale can be found here. Insiders sold 67,516 shares of company stock valued at $7,357,395 over the last ninety days. Corporate insiders own 2.55% of the company’s stock.

Several hedge funds have recently made changes to their positions in EA. FMR LLC grew its position in Electronic Arts by 0.7% during the second quarter. FMR LLC now owns 30,692,180 shares of the game software company’s stock valued at $3,244,778,000 after buying an additional 205,768 shares during the period. Bank of New York Mellon Corp grew its position in Electronic Arts by 0.6% during the third quarter. Bank of New York Mellon Corp now owns 4,203,946 shares of the game software company’s stock valued at $496,317,000 after buying an additional 25,397 shares during the period. Northern Trust Corp grew its position in Electronic Arts by 1.2% during the second quarter. Northern Trust Corp now owns 3,431,740 shares of the game software company’s stock valued at $362,804,000 after buying an additional 40,722 shares during the period. American Century Companies Inc. grew its position in Electronic Arts by 7.8% during the third quarter. American Century Companies Inc. now owns 2,712,104 shares of the game software company’s stock valued at $320,191,000 after buying an additional 196,228 shares during the period. Finally, Renaissance Technologies LLC grew its position in Electronic Arts by 928.4% during the second quarter. Renaissance Technologies LLC now owns 2,586,064 shares of the game software company’s stock valued at $273,399,000 after buying an additional 2,334,600 shares during the period. Hedge funds and other institutional investors own 93.51% of the company’s stock.

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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.

To view Vetr’s full report, visit Vetr’s official website.

Analyst Recommendations for Electronic Arts (NASDAQ:EA)

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