First Citizens Bank & Trust Co. Cuts Stake in Electronic Arts Inc. $EA

First Citizens Bank & Trust Co. lowered its position in shares of Electronic Arts Inc. (NASDAQ:EA) by 77.8% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm 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 quarter.

Several other institutional investors have also recently made changes to their positions in the company. Forum Financial Management LP increased its stake in shares of Electronic Arts by 9.0% during the second quarter. Forum Financial Management LP now owns 3,313 shares of the game software company’s stock valued at $529,000 after buying an additional 274 shares during the period. Cullen Frost Bankers Inc. increased its stake in shares of Electronic Arts by 4.2% during the second quarter. Cullen Frost Bankers Inc. now owns 2,778 shares of the game software company’s stock valued at $444,000 after buying an additional 113 shares during the period. Whittier Trust Co. increased its stake in shares of Electronic Arts by 12.3% during the second quarter. Whittier Trust Co. now owns 2,506 shares of the game software company’s stock valued at $400,000 after buying an additional 275 shares during the period. Cidel Asset Management Inc. purchased a new position in shares of Electronic Arts during the second quarter valued at $210,000. Finally, Salomon & Ludwin LLC increased its stake in shares of Electronic Arts by 70.1% during the second quarter. Salomon & Ludwin LLC now owns 165 shares of the game software company’s stock valued at $26,000 after buying an additional 68 shares during the period. Hedge funds and other institutional investors own 90.23% of the company’s stock.

Insider Buying and Selling

In other Electronic Arts news, EVP Jacob J. Schatz sold 1,200 shares of the business’s stock in a transaction that occurred 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 completion of the transaction, the executive vice president directly owned 26,080 shares of the company’s stock, valued at approximately $4,473,241.60. The trade was a 4.40% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Stuart Canfield sold 6,500 shares of the business’s stock in a transaction that occurred on Monday, September 29th. The shares were sold at an average price of $203.40, for a total value of $1,322,100.00. Following the completion of the transaction, the chief financial officer directly owned 5,140 shares of the company’s stock, valued at $1,045,476. The trade was a 55.84% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 41,900 shares of company stock valued at $7,748,187 in the last three months. 0.24% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several equities analysts have issued reports on the company. Arete upgraded Electronic Arts from a “neutral” rating to a “buy” rating and set a $192.00 target price on the stock in a research note on Tuesday, August 5th. Wall Street Zen lowered Electronic Arts from a “buy” rating to a “hold” rating in a research note on Saturday, August 2nd. Arete Research set a $192.00 target price on Electronic Arts in a research note on Tuesday, August 5th. Oppenheimer lowered Electronic Arts from an “outperform” rating to a “market perform” rating in a research note on Tuesday, September 30th. Finally, Roth Capital lowered Electronic Arts from a “buy” rating to a “neutral” rating and lifted their target price for the company from $185.00 to $210.00 in a research note on Thursday, October 2nd. Two research analysts have rated the stock with a Strong Buy rating, four have given a Buy rating, twenty-five have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, Electronic Arts presently has an average rating of “Hold” and a consensus price target of $179.38.

Electronic Arts Trading Up 0.1%

Electronic Arts stock opened at $200.84 on Friday. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 0.24. Electronic Arts Inc. has a 52 week low of $115.21 and a 52 week high of $203.75. The company has a market capitalization of $50.25 billion, a price-to-earnings ratio of 50.34, a price-to-earnings-growth ratio of 3.05 and a beta of 0.77. The stock has a 50-day moving average price of $183.25 and a 200 day moving average price of $162.78.

Electronic Arts Company Profile

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.