Citigroup Cuts Electronic Arts (NASDAQ:EA) Price Target to $139.00

Electronic Arts (NASDAQ:EA) had its price objective cut by research analysts at Citigroup from $163.00 to $139.00 in a note issued to investors on Tuesday,Benzinga reports. The firm presently has a “neutral” rating on the game software company’s stock. Citigroup’s price objective indicates a potential upside of 14.58% from the stock’s current price.

Several other analysts also recently issued reports on EA. Bank of America downgraded Electronic Arts from a “buy” rating to a “neutral” rating and dropped their price target for the company from $170.00 to $130.00 in a research note on Thursday, January 23rd. JPMorgan Chase & Co. dropped their target price on Electronic Arts from $155.00 to $150.00 and set a “neutral” rating on the stock in a research report on Wednesday, October 30th. Wedbush reaffirmed an “outperform” rating and set a $173.00 price target on shares of Electronic Arts in a research note on Thursday, January 23rd. Benchmark reiterated a “buy” rating and issued a $163.00 price objective on shares of Electronic Arts in a report on Wednesday, October 30th. Finally, Moffett Nathanson upgraded Electronic Arts from a “neutral” rating to a “buy” rating and set a $145.00 target price on the stock in a report on Friday. Twelve analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $156.38.

Electronic Arts Stock Down 1.3 %

Shares of EA stock traded down $1.60 during trading hours on Tuesday, hitting $121.31. 1,314,960 shares of the company were exchanged, compared to its average volume of 3,967,362. Electronic Arts has a 52 week low of $115.21 and a 52 week high of $168.50. The company has a current ratio of 1.43, a quick ratio of 1.43 and a debt-to-equity ratio of 0.25. The business has a 50 day moving average of $146.84 and a two-hundred day moving average of $147.79. The company has a market capitalization of $31.82 billion, a PE ratio of 31.19, a PEG ratio of 2.50 and a beta of 0.79.

Insider Transactions at Electronic Arts

In other Electronic Arts news, insider Vijayanthimala Singh sold 1,000 shares of the business’s stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $164.45, for a total value of $164,450.00. Following the completion of the sale, the insider now owns 30,216 shares of the company’s stock, valued at $4,969,021.20. The trade was a 3.20 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Laura Miele sold 2,500 shares of the firm’s stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $158.03, for a total transaction of $395,075.00. Following the transaction, the insider now directly owns 50,433 shares in the company, valued at $7,969,926.99. This represents a 4.72 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 25,000 shares of company stock worth $3,835,555 over the last quarter. Company insiders own 0.22% of the company’s stock.

Hedge Funds Weigh In On Electronic Arts

Institutional investors have recently modified their holdings of the business. Ashton Thomas Securities LLC acquired a new stake in Electronic Arts in the third quarter valued at approximately $25,000. Pinnacle Bancorp Inc. boosted its holdings in shares of Electronic Arts by 141.0% during the 4th quarter. Pinnacle Bancorp Inc. now owns 200 shares of the game software company’s stock valued at $29,000 after acquiring an additional 117 shares in the last quarter. Reston Wealth Management LLC acquired a new position in Electronic Arts in the 3rd quarter worth about $36,000. Bruce G. Allen Investments LLC increased its holdings in Electronic Arts by 156.6% in the 3rd quarter. Bruce G. Allen Investments LLC now owns 272 shares of the game software company’s stock worth $39,000 after purchasing an additional 166 shares in the last quarter. Finally, Larson Financial Group LLC raised its position in Electronic Arts by 31.8% in the third quarter. Larson Financial Group LLC now owns 290 shares of the game software company’s stock valued at $42,000 after purchasing an additional 70 shares during the last quarter. Institutional investors and hedge funds own 90.23% of the company’s stock.

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.