Electronic Arts (NASDAQ:EA) Receives Outperform Rating from Wedbush

Wedbush reissued their outperform rating on shares of Electronic Arts (NASDAQ:EA) in a report released on Wednesday morning, Benzinga reports. Wedbush currently has a $162.00 target price on the game software company’s stock.

A number of other brokerages have also weighed in on EA. Roth Mkm lowered their price objective on shares of Electronic Arts from $140.00 to $135.00 and set a neutral rating for the company in a report on Wednesday, May 1st. Robert W. Baird lowered their price target on shares of Electronic Arts from $160.00 to $150.00 and set an outperform rating for the company in a research note on Wednesday. Oppenheimer reaffirmed an outperform rating and set a $150.00 price objective on shares of Electronic Arts in a research note on Tuesday, April 23rd. BMO Capital Markets started coverage on Electronic Arts in a research note on Tuesday, January 9th. They issued an outperform rating and a $160.00 target price for the company. Finally, Benchmark restated a buy rating and set a $153.00 price target on shares of Electronic Arts in a research report on Thursday, April 18th. Eight research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of Moderate Buy and a consensus price target of $146.94.

Electronic Arts Price Performance

Shares of NASDAQ EA traded up $1.70 during trading hours on Wednesday, reaching $126.94. 521,719 shares of the stock traded hands, compared to its average volume of 1,996,445. The company’s 50-day simple moving average is $131.27 and its two-hundred day simple moving average is $134.45. The company has a market capitalization of $33.94 billion, a P/E ratio of 31.55, a price-to-earnings-growth ratio of 1.73 and a beta of 0.78. Electronic Arts has a 52-week low of $117.47 and a 52-week high of $144.53. The company has a quick ratio of 1.33, a current ratio of 1.33 and a debt-to-equity ratio of 0.25.

Electronic Arts Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, June 19th. Stockholders of record on Wednesday, May 29th will be paid a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a dividend yield of 0.60%. Electronic Arts’s dividend payout ratio is presently 19.14%.

Insider Buying and Selling at Electronic Arts

In related news, insider Jacob J. Schatz sold 1,000 shares of the business’s stock in a transaction that occurred on Thursday, February 15th. The shares were sold at an average price of $143.24, for a total transaction of $143,240.00. Following the completion of the sale, the insider now directly owns 20,258 shares in the company, valued at $2,901,755.92. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Electronic Arts news, insider Jacob J. Schatz sold 1,000 shares of the company’s stock in a transaction dated Thursday, February 15th. The stock was sold at an average price of $143.24, for a total value of $143,240.00. Following the completion of the sale, the insider now owns 20,258 shares in the company, valued at $2,901,755.92. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Vijayanthimala Singh sold 800 shares of Electronic Arts stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $139.08, for a total value of $111,264.00. Following the transaction, the insider now directly owns 27,883 shares in the company, valued at $3,877,967.64. The disclosure for this sale can be found here. In the last ninety days, insiders sold 32,272 shares of company stock worth $4,420,459. Insiders own 0.20% of the company’s stock.

Institutional Trading of Electronic Arts

Institutional investors and hedge funds have recently modified their holdings of the company. Commonwealth Equity Services LLC boosted its position in shares of Electronic Arts by 4.4% during the third quarter. Commonwealth Equity Services LLC now owns 40,542 shares of the game software company’s stock worth $4,881,000 after acquiring an additional 1,711 shares during the last quarter. Cambridge Investment Research Advisors Inc. increased its holdings in shares of Electronic Arts by 25.1% in the third quarter. Cambridge Investment Research Advisors Inc. now owns 12,990 shares of the game software company’s stock worth $1,564,000 after purchasing an additional 2,603 shares during the last quarter. Raymond James Financial Services Advisors Inc. lifted its position in shares of Electronic Arts by 4.7% in the third quarter. Raymond James Financial Services Advisors Inc. now owns 27,988 shares of the game software company’s stock worth $3,370,000 after buying an additional 1,255 shares in the last quarter. Stratos Wealth Partners LTD. boosted its stake in Electronic Arts by 12.1% during the third quarter. Stratos Wealth Partners LTD. now owns 2,208 shares of the game software company’s stock valued at $266,000 after buying an additional 239 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. grew its holdings in Electronic Arts by 11.6% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 391,762 shares of the game software company’s stock valued at $47,168,000 after buying an additional 40,661 shares in the last quarter. 90.23% of the stock is currently owned by institutional investors.

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.