Citigroup Increases Electronic Arts (NASDAQ:EA) Price Target to $204.00

Electronic Arts (NASDAQ:EA) had its price target hoisted by stock analysts at Citigroup from $202.00 to $204.00 in a research note issued to investors on Thursday,Benzinga reports. The firm currently has a “neutral” rating on the game software company’s stock. Citigroup’s target price would suggest a potential upside of 1.78% from the stock’s previous close.

Several other research analysts have also issued reports on the stock. Weiss Ratings restated a “hold (c)” rating on shares of Electronic Arts in a research report on Monday. UBS Group restated a “neutral” rating on shares of Electronic Arts in a research report on Wednesday, February 4th. Three investment analysts have rated the stock with a Buy rating, sixteen have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $196.64.

Electronic Arts Trading Down 0.2%

Electronic Arts stock opened at $200.44 on Thursday. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.93 and a current ratio of 1.05. The firm has a market cap of $50.16 billion, a price-to-earnings ratio of 57.43, a price-to-earnings-growth ratio of 2.16 and a beta of 0.66. Electronic Arts has a 1 year low of $141.19 and a 1 year high of $204.88. The firm’s 50 day moving average price is $201.87 and its two-hundred day moving average price is $202.21.

Insider Activity

In related news, insider Vijayanthimala Singh sold 1,200 shares of the firm’s stock in a transaction that occurred on Wednesday, April 15th. The shares were sold at an average price of $203.25, for a total value of $243,900.00. Following the completion of the transaction, the insider owned 28,760 shares of the company’s stock, valued at approximately $5,845,470. This trade represents a 4.01% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Stuart Canfield sold 1,500 shares of the firm’s stock in a transaction that occurred on Tuesday, February 17th. The stock was sold at an average price of $199.90, for a total transaction of $299,850.00. Following the completion of the transaction, the chief financial officer directly owned 5,897 shares of the company’s stock, valued at $1,178,810.30. This represents a 20.28% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders sold 27,600 shares of company stock worth $5,544,159. Company insiders own 0.24% of the company’s stock.

Hedge Funds Weigh In On Electronic Arts

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its stake in Electronic Arts by 1.7% in the 4th quarter. Vanguard Group Inc. now owns 28,773,086 shares of the game software company’s stock worth $5,879,205,000 after purchasing an additional 485,030 shares during the period. Pentwater Capital Management LP boosted its stake in shares of Electronic Arts by 128.1% during the 4th quarter. Pentwater Capital Management LP now owns 10,950,000 shares of the game software company’s stock valued at $2,237,414,000 after buying an additional 6,150,000 shares during the period. Geode Capital Management LLC boosted its stake in shares of Electronic Arts by 2.2% during the 4th quarter. Geode Capital Management LLC now owns 6,764,572 shares of the game software company’s stock valued at $1,382,030,000 after buying an additional 143,195 shares during the period. Ameriprise Financial Inc. boosted its stake in shares of Electronic Arts by 8.9% during the 3rd quarter. Ameriprise Financial Inc. now owns 4,591,869 shares of the game software company’s stock valued at $926,194,000 after buying an additional 374,840 shares during the period. Finally, Invesco Ltd. boosted its stake in shares of Electronic Arts by 4.9% during the 3rd quarter. Invesco Ltd. now owns 4,314,962 shares of the game software company’s stock valued at $870,328,000 after buying an additional 202,657 shares during the period. Institutional investors and hedge funds own 90.23% of the company’s stock.

About Electronic Arts

Electronic Arts Inc (NASDAQ: EA) is a global interactive entertainment company headquartered in Redwood City, California. Founded in 1982 by Trip Hawkins, EA develops, publishes and distributes video games and related content for a variety of platforms, including consoles, personal computers and mobile devices. The company combines in-house development, partnerships and studio acquisitions to create and maintain a portfolio of entertainment properties and live-service experiences for players worldwide.

EA’s product lineup spans several well-known franchises and genres.