Electronic Arts (NASDAQ:EA) Price Target Lowered to $150.00 at JPMorgan Chase & Co.

Electronic Arts (NASDAQ:EA) had its target price lowered by equities research analysts at JPMorgan Chase & Co. from $155.00 to $150.00 in a research note issued to investors on Wednesday, Benzinga reports. The firm currently has a “neutral” rating on the game software company’s stock. JPMorgan Chase & Co.‘s target price indicates a potential upside of 0.53% from the company’s previous close.

EA has been the topic of a number of other reports. Citigroup lowered Electronic Arts from a “buy” rating to a “neutral” rating and raised their price target for the stock from $148.00 to $161.00 in a research note on Monday, July 15th. The Goldman Sachs Group lifted their price objective on shares of Electronic Arts from $139.00 to $150.00 and gave the company a “neutral” rating in a research note on Wednesday, July 31st. Morgan Stanley reissued an “equal weight” rating and issued a $150.00 price target on shares of Electronic Arts in a report on Wednesday, September 18th. Oppenheimer upped their target price on shares of Electronic Arts from $150.00 to $170.00 and gave the company an “outperform” rating in a research note on Tuesday, July 16th. Finally, Roth Mkm restated a “neutral” rating and set a $154.00 price objective on shares of Electronic Arts in a research note on Thursday, September 19th. Eight equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $163.41.

Electronic Arts Price Performance

Shares of EA traded up $3.59 during mid-day trading on Wednesday, hitting $149.21. The company’s stock had a trading volume of 1,853,127 shares, compared to its average volume of 2,048,434. The company has a current ratio of 1.45, a quick ratio of 1.45 and a debt-to-equity ratio of 0.25. Electronic Arts has a 1-year low of $121.63 and a 1-year high of $153.51. The firm has a market capitalization of $39.65 billion, a P/E ratio of 31.93, a P/E/G ratio of 1.97 and a beta of 0.79. The firm has a 50-day simple moving average of $144.83 and a 200 day simple moving average of $139.88.

Electronic Arts (NASDAQ:EA) last issued its quarterly earnings data on Tuesday, July 30th. The game software company reported $0.09 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.03 by $0.06. The firm had revenue of $1.26 billion during the quarter, compared to the consensus estimate of $1.21 billion. Electronic Arts had a return on equity of 16.34% and a net margin of 15.77%. Analysts predict that Electronic Arts will post 5.93 EPS for the current fiscal year.

Insider Buying and Selling

In other news, CEO Andrew Wilson sold 2,500 shares of the firm’s stock in a transaction that occurred on Wednesday, September 25th. The stock was sold at an average price of $141.50, for a total value of $353,750.00. Following the transaction, the chief executive officer now owns 54,247 shares in the company, valued at $7,675,950.50. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other news, CEO Andrew Wilson sold 2,500 shares of the business’s stock in a transaction on Wednesday, September 25th. The shares were sold at an average price of $141.50, for a total transaction of $353,750.00. Following the completion of the transaction, the chief executive officer now directly owns 54,247 shares in the company, valued at $7,675,950.50. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Vijayanthimala Singh sold 7,384 shares of the business’s stock in a transaction that occurred on Wednesday, August 28th. The stock was sold at an average price of $149.91, for a total value of $1,106,935.44. Following the completion of the sale, the insider now owns 31,190 shares of the company’s stock, valued at $4,675,692.90. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 24,770 shares of company stock valued at $3,652,410 over the last quarter. Insiders own 0.22% of the company’s stock.

Institutional Investors Weigh In On Electronic Arts

Several hedge funds have recently added to or reduced their stakes in EA. Vanguard Group Inc. raised its position in Electronic Arts by 14.7% in the 1st quarter. Vanguard Group Inc. now owns 29,159,718 shares of the game software company’s stock worth $3,868,620,000 after buying an additional 3,727,251 shares during the last quarter. Price T Rowe Associates Inc. MD grew its holdings in Electronic Arts by 496.9% during the first quarter. Price T Rowe Associates Inc. MD now owns 2,511,250 shares of the game software company’s stock valued at $333,169,000 after purchasing an additional 2,090,504 shares during the period. Swedbank AB purchased a new stake in Electronic Arts in the 1st quarter worth approximately $201,935,000. Jericho Capital Asset Management L.P. bought a new stake in shares of Electronic Arts during the 1st quarter valued at $189,055,000. Finally, Manning & Napier Advisors LLC purchased a new position in shares of Electronic Arts in the second quarter valued at about $188,159,000. 90.23% of the stock is owned by institutional investors.

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.