Robert W. Baird Cuts Electronic Arts (NASDAQ:EA) Price Target to $158.00

Electronic Arts (NASDAQ:EA) had its target price dropped by stock analysts at Robert W. Baird from $175.00 to $158.00 in a research report issued on Thursday,Benzinga reports. The brokerage presently has an “outperform” rating on the game software company’s stock. Robert W. Baird’s price target would suggest a potential upside of 35.55% from the company’s previous close.

Several other brokerages have also recently weighed in on EA. DZ Bank raised shares of Electronic Arts from a “hold” rating to a “buy” rating and upped their price target for the stock from $135.00 to $177.00 in a research report on Thursday, October 31st. Bank of America cut Electronic Arts from a “buy” rating to a “neutral” rating and dropped their target price for the company from $170.00 to $130.00 in a research report on Thursday. Benchmark reissued a “buy” rating and issued a $163.00 price target on shares of Electronic Arts in a research report on Wednesday, October 30th. StockNews.com upgraded Electronic Arts from a “buy” rating to a “strong-buy” rating in a research note on Thursday, October 31st. Finally, BNP Paribas raised shares of Electronic Arts to a “strong-buy” rating in a research report on Wednesday, October 9th. Eleven investment analysts have rated the stock with a hold rating, eight have issued a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, Electronic Arts currently has a consensus rating of “Moderate Buy” and an average price target of $159.79.

Electronic Arts Stock Performance

EA stock opened at $116.56 on Thursday. Electronic Arts has a 1-year low of $115.21 and a 1-year high of $168.50. The business has a 50-day moving average price of $152.43 and a 200 day moving average price of $148.83. The company has a market capitalization of $30.57 billion, a P/E ratio of 29.96, a PEG ratio of 1.87 and a beta of 0.80. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.43 and a quick ratio of 1.43.

Insider Activity

In other news, CEO Andrew Wilson sold 5,000 shares of the company’s stock in a transaction on Wednesday, November 20th. The shares were sold at an average price of $166.47, for a total value of $832,350.00. Following the sale, the chief executive officer now directly owns 52,615 shares of the company’s stock, valued at $8,758,819.05. This represents a 8.68 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Laura Miele sold 2,500 shares of the firm’s stock in a transaction 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 of the company’s stock, valued at approximately $7,969,926.99. This trade represents a 4.72 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 26,000 shares of company stock valued at $3,986,385. Company insiders own 0.22% of the company’s stock.

Institutional Trading of Electronic Arts

Several hedge funds and other institutional investors have recently bought and sold shares of EA. RBA Wealth Management LLC lifted its holdings in Electronic Arts by 1.6% in the fourth quarter. RBA Wealth Management LLC now owns 27,225 shares of the game software company’s stock valued at $3,983,000 after acquiring an additional 434 shares during the period. Resonant Capital Advisors LLC increased its holdings in shares of Electronic Arts by 3.2% during the 4th quarter. Resonant Capital Advisors LLC now owns 15,970 shares of the game software company’s stock valued at $2,336,000 after purchasing an additional 488 shares in the last quarter. Catalina Capital Group LLC acquired a new position in shares of Electronic Arts in the 4th quarter valued at $218,000. Avantra Family Wealth Inc. purchased a new stake in Electronic Arts during the fourth quarter worth $459,000. Finally, Spire Wealth Management grew its position in Electronic Arts by 881.0% during the fourth quarter. Spire Wealth Management now owns 2,070 shares of the game software company’s stock valued at $303,000 after buying an additional 1,859 shares during the period. 90.23% of the stock is owned by institutional investors and hedge funds.

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.