Traders Buy Shares of Electronic Arts Inc. (EA) on Weakness

Traders purchased shares of Electronic Arts Inc. (NASDAQ:EA) on weakness during trading hours on Monday. $93.20 million flowed into the stock on the tick-up and $62.86 million flowed out of the stock on the tick-down, for a money net flow of $30.34 million into the stock. Of all companies tracked, Electronic Arts had the 14th highest net in-flow for the day. Electronic Arts traded down ($0.74) for the day and closed at $112.01

EA has been the topic of a number of research analyst reports. Oppenheimer Holdings, Inc. set a $130.00 price target on Electronic Arts and gave the stock a “buy” rating in a research report on Friday, July 28th. Wedbush restated a “buy” rating on shares of Electronic Arts in a research report on Friday, July 28th. Jefferies Group LLC restated a “buy” rating and set a $135.00 price target (up from $123.00) on shares of Electronic Arts in a research report on Friday, July 28th. Bank of America Corporation upgraded Electronic Arts from a “neutral” rating to a “buy” rating and set a $131.00 price target on the stock in a research report on Wednesday, July 26th. Finally, BidaskClub upgraded Electronic Arts from a “hold” rating to a “buy” rating in a research report on Monday, July 24th. Five equities research analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and one has issued a strong buy rating to the company. Electronic Arts currently has an average rating of “Buy” and a consensus price target of $123.38.

The firm has a market cap of $34,580.00, a P/E ratio of 28.99, a P/E/G ratio of 1.85 and a beta of 0.65. The company has a debt-to-equity ratio of 0.23, a current ratio of 2.38 and a quick ratio of 2.38.

In related news, SVP Jacob J. Schatz sold 1,000 shares of the firm’s stock in a transaction on Wednesday, September 20th. The stock was sold at an average price of $120.77, for a total transaction of $120,770.00. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CFO Blake J. Jorgensen sold 10,000 shares of the firm’s stock in a transaction on Tuesday, November 7th. The stock was sold at an average price of $111.94, for a total value of $1,119,400.00. Following the sale, the chief financial officer now directly owns 182,814 shares in the company, valued at approximately $20,464,199.16. The disclosure for this sale can be found here. Insiders have sold a total of 190,596 shares of company stock worth $22,627,981 in the last ninety days. 2.55% of the stock is currently owned by company insiders.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. FMR LLC raised its stake in shares of Electronic Arts by 0.7% in the 2nd quarter. FMR LLC now owns 30,692,180 shares of the game software company’s stock valued at $3,244,778,000 after purchasing an additional 205,768 shares during the period. Bank of New York Mellon Corp raised its stake in shares of Electronic Arts by 0.6% in the 3rd quarter. Bank of New York Mellon Corp now owns 4,203,946 shares of the game software company’s stock valued at $496,317,000 after purchasing an additional 25,397 shares during the period. Northern Trust Corp raised its stake in shares of Electronic Arts by 1.2% in the 2nd quarter. Northern Trust Corp now owns 3,431,740 shares of the game software company’s stock valued at $362,804,000 after purchasing an additional 40,722 shares during the period. American Century Companies Inc. raised its stake in shares of Electronic Arts by 7.8% in the 3rd quarter. American Century Companies Inc. now owns 2,712,104 shares of the game software company’s stock valued at $320,191,000 after purchasing an additional 196,228 shares during the period. Finally, Renaissance Technologies LLC raised its stake in shares of Electronic Arts by 928.4% in the 2nd quarter. Renaissance Technologies LLC now owns 2,586,064 shares of the game software company’s stock valued at $273,399,000 after purchasing an additional 2,334,600 shares during the period. 94.56% of the stock is currently owned by hedge funds and other institutional investors.

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About Electronic Arts

Electronic Arts Inc develops, markets, publishes and distributes games, content and services that can be played by consumers on a range of platforms, which include consoles, personal computers (PCs), mobile phones and tablets. The Company’s games and services are based on a portfolio of intellectual property that includes established brands, such as FIFA, Madden NFL, Star Wars, Battlefield, the Sims and Need for Speed.

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