Electronic Arts (NASDAQ:EA) Downgraded to Neutral Rating by Bank of America

Bank of America lowered shares of Electronic Arts (NASDAQ:EA) from a buy rating to a neutral rating in a report published on Thursday, Marketbeat reports. They currently have $130.00 target price on the game software company’s stock, down from their prior target price of $170.00.

A number of other equities analysts have also recently issued reports on EA. BMO Capital Markets restated an “outperform” rating and set a $160.00 price objective (up previously from $154.00) on shares of Electronic Arts in a report on Wednesday, October 30th. Benchmark reissued a “buy” rating and set a $163.00 target price on shares of Electronic Arts in a research note on Wednesday, October 30th. BNP Paribas upgraded shares of Electronic Arts to a “strong-buy” rating in a report on Wednesday, October 9th. UBS Group upped their target price on shares of Electronic Arts from $155.00 to $160.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 30th. Finally, Robert W. Baird boosted their price target on Electronic Arts from $170.00 to $175.00 and gave the company an “outperform” rating in a report on Wednesday, October 30th. Eleven analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $159.79.

Electronic Arts Stock Down 16.7 %

Shares of NASDAQ EA opened at $118.58 on Thursday. Electronic Arts has a 1 year low of $115.45 and a 1 year high of $168.50. The firm has a 50-day simple moving average of $153.33 and a two-hundred day simple moving average of $148.99. The company has a market cap of $31.10 billion, a P/E ratio of 30.48, a PEG ratio of 1.88 and a beta of 0.80. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.43 and a quick ratio of 1.43.

Electronic Arts Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, December 18th. Stockholders of record on Wednesday, November 27th were issued a dividend of $0.19 per share. The ex-dividend date was Wednesday, November 27th. This represents a $0.76 annualized dividend and a dividend yield of 0.64%. Electronic Arts’s dividend payout ratio is presently 19.54%.

Insider Transactions at Electronic Arts

In other Electronic Arts news, insider Laura Miele sold 2,500 shares of the business’s stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $158.03, for a total transaction of $395,075.00. Following the sale, the insider now owns 50,433 shares in the company, valued at approximately $7,969,926.99. The trade was a 4.72 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Andrew Wilson sold 5,000 shares of the firm’s stock in a transaction dated Wednesday, November 20th. The stock was sold at an average price of $166.47, for a total value of $832,350.00. Following the completion of the transaction, the chief executive officer now owns 52,615 shares of the company’s stock, valued at approximately $8,758,819.05. The trade was a 8.68 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 26,000 shares of company stock valued at $3,986,385 in the last quarter. 0.22% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Electronic Arts

Several hedge funds and other institutional investors have recently bought and sold shares of EA. Geode Capital Management LLC increased its holdings in shares of Electronic Arts by 0.4% during the 3rd quarter. Geode Capital Management LLC now owns 6,671,657 shares of the game software company’s stock valued at $954,358,000 after purchasing an additional 26,505 shares in the last quarter. Legal & General Group Plc grew its position in Electronic Arts by 2.1% during the second quarter. Legal & General Group Plc now owns 2,639,691 shares of the game software company’s stock valued at $367,789,000 after buying an additional 53,800 shares during the period. Swedbank AB increased its holdings in Electronic Arts by 6.3% in the fourth quarter. Swedbank AB now owns 1,607,817 shares of the game software company’s stock valued at $235,224,000 after buying an additional 95,190 shares in the last quarter. D. E. Shaw & Co. Inc. raised its position in shares of Electronic Arts by 43.3% in the second quarter. D. E. Shaw & Co. Inc. now owns 1,390,418 shares of the game software company’s stock worth $193,727,000 after acquiring an additional 420,382 shares during the period. Finally, Robeco Institutional Asset Management B.V. boosted its stake in shares of Electronic Arts by 51.5% during the 4th quarter. Robeco Institutional Asset Management B.V. now owns 1,099,746 shares of the game software company’s stock worth $160,893,000 after acquiring an additional 373,730 shares in the last quarter. Institutional investors and hedge funds own 90.23% of the company’s stock.

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.