Electronic Arts Inc. $EA Shares Sold by First Citizens Bank & Trust Co.

First Citizens Bank & Trust Co. trimmed its holdings in shares of Electronic Arts Inc. (NASDAQ:EA) by 77.8% in the 2nd quarter, HoldingsChannel reports. The institutional investor owned 3,324 shares of the game software company’s stock after selling 11,669 shares during the period. First Citizens Bank & Trust Co.’s holdings in Electronic Arts were worth $531,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in EA. Salomon & Ludwin LLC raised its stake in shares of Electronic Arts by 70.1% during the 2nd quarter. Salomon & Ludwin LLC now owns 165 shares of the game software company’s stock worth $26,000 after buying an additional 68 shares during the period. Bank of Jackson Hole Trust raised its stake in shares of Electronic Arts by 56.4% during the 1st quarter. Bank of Jackson Hole Trust now owns 208 shares of the game software company’s stock worth $30,000 after buying an additional 75 shares during the period. Frazier Financial Advisors LLC raised its stake in shares of Electronic Arts by 328.9% during the 2nd quarter. Frazier Financial Advisors LLC now owns 193 shares of the game software company’s stock worth $31,000 after buying an additional 148 shares during the period. Wayfinding Financial LLC acquired a new position in shares of Electronic Arts during the 1st quarter worth approximately $39,000. Finally, Costello Asset Management INC acquired a new position in shares of Electronic Arts during the 1st quarter worth approximately $40,000. 90.23% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Electronic Arts

In other news, CEO Andrew Wilson sold 5,000 shares of the stock in a transaction on Wednesday, August 20th. The stock was sold at an average price of $171.05, for a total transaction of $855,250.00. Following the completion of the transaction, the chief executive officer directly owned 52,393 shares in the company, valued at approximately $8,961,822.65. This represents a 8.71% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Jacob J. Schatz sold 1,200 shares of the stock in a transaction on Monday, September 15th. The stock was sold at an average price of $171.52, for a total value of $205,824.00. Following the transaction, the executive vice president owned 26,080 shares of the company’s stock, valued at approximately $4,473,241.60. This represents a 4.40% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 41,900 shares of company stock worth $7,748,187. Insiders own 0.24% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently commented on EA. UBS Group set a $210.00 price target on Electronic Arts and gave the stock a “neutral” rating in a research report on Tuesday, September 30th. Weiss Ratings reiterated a “hold (c)” rating on shares of Electronic Arts in a research report on Friday. Arete upgraded Electronic Arts from a “neutral” rating to a “buy” rating and set a $192.00 price target for the company in a research report on Tuesday, August 5th. Morgan Stanley boosted their price target on Electronic Arts from $148.00 to $210.00 and gave the stock an “equal weight” rating in a research report on Monday, October 20th. Finally, TD Cowen cut Electronic Arts from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, October 1st. Two investment analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating, twenty-five have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $179.38.

Electronic Arts Stock Performance

NASDAQ EA opened at $200.84 on Friday. The stock has a market cap of $50.25 billion, a PE ratio of 50.34, a P/E/G ratio of 3.05 and a beta of 0.77. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 0.24. Electronic Arts Inc. has a twelve month low of $115.21 and a twelve month high of $203.75. The stock has a fifty day simple moving average of $183.25 and a 200-day simple moving average of $162.78.

About Electronic Arts

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.