Electronic Arts (NASDAQ:EA) Coverage Initiated at Wells Fargo & Company

Stock analysts at Wells Fargo & Company began coverage on shares of Electronic Arts (NASDAQ:EA) in a research report issued on Monday, Marketbeat reports. The firm set an “equal weight” rating and a $168.00 price target on the game software company’s stock. Wells Fargo & Company‘s price target indicates a potential upside of 10.17% from the stock’s previous close.

A number of other brokerages have also recently issued reports on EA. TD Cowen lifted their target price on Electronic Arts from $160.00 to $172.00 and gave the stock a “buy” rating in a report on Wednesday, May 7th. Morgan Stanley lifted their price target on Electronic Arts from $135.00 to $148.00 and gave the stock an “equal weight” rating in a research note on Wednesday, May 7th. Wedbush restated an “outperform” rating and set a $210.00 price objective on shares of Electronic Arts in a report on Tuesday, July 22nd. Moffett Nathanson reaffirmed a “neutral” rating and set a $163.00 price objective on shares of Electronic Arts in a research note on Wednesday, May 7th. Finally, The Goldman Sachs Group lifted their target price on shares of Electronic Arts from $135.00 to $155.00 and gave the stock a “neutral” rating in a research report on Thursday, May 8th. Fifteen equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $164.44.

Electronic Arts Price Performance

Shares of EA stock traded down $3.77 during midday trading on Monday, reaching $152.49. 3,640,515 shares of the company were exchanged, compared to its average volume of 2,401,290. The company’s 50 day moving average price is $151.10 and its two-hundred day moving average price is $143.06. The company has a market cap of $38.32 billion, a P/E ratio of 38.22, a PEG ratio of 2.12 and a beta of 0.73. Electronic Arts has a 12 month low of $115.21 and a 12 month high of $168.50. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.95 and a current ratio of 0.84.

Insiders Place Their Bets

In other Electronic Arts news, insider Laura Miele sold 2,500 shares of the business’s stock in a transaction on Tuesday, July 1st. The shares were sold at an average price of $159.50, for a total transaction of $398,750.00. Following the completion of the transaction, the insider owned 60,592 shares of the company’s stock, valued at $9,664,424. The trade was a 3.96% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Jacob J. Schatz sold 1,500 shares of the firm’s stock in a transaction dated Tuesday, July 15th. The shares were sold at an average price of $148.32, for a total value of $222,480.00. Following the completion of the sale, the executive vice president directly owned 28,448 shares in the company, valued at approximately $4,219,407.36. This represents a 5.01% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 30,729 shares of company stock valued at $4,677,324 in the last three months. Company insiders own 0.24% of the company’s stock.

Institutional Trading of Electronic Arts

Several institutional investors have recently modified their holdings of the company. Salomon & Ludwin LLC grew its position in Electronic Arts by 70.1% in the second quarter. Salomon & Ludwin LLC now owns 165 shares of the game software company’s stock valued at $26,000 after acquiring an additional 68 shares during the period. Putney Financial Group LLC acquired a new stake in shares of Electronic Arts during the 4th quarter worth approximately $26,000. Frazier Financial Advisors LLC boosted its position in shares of Electronic Arts by 328.9% in the 2nd quarter. Frazier Financial Advisors LLC now owns 193 shares of the game software company’s stock worth $31,000 after purchasing an additional 148 shares during the last quarter. Opal Wealth Advisors LLC acquired a new position in shares of Electronic Arts during the 1st quarter worth about $28,000. Finally, Bank of Jackson Hole Trust boosted its position in shares of Electronic Arts by 56.4% during the first quarter. Bank of Jackson Hole Trust now owns 208 shares of the game software company’s stock worth $30,000 after purchasing an additional 75 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.