First Citizens Bank & Trust Co. Sells 803 Shares of Electronic Arts Inc. (NASDAQ:EA)

First Citizens Bank & Trust Co. decreased its stake in shares of Electronic Arts Inc. (NASDAQ:EA) by 5.0% during the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 15,136 shares of the game software company’s stock after selling 803 shares during the quarter. First Citizens Bank & Trust Co.’s holdings in Electronic Arts were worth $2,214,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Geode Capital Management LLC increased its stake in Electronic Arts by 0.4% in the third quarter. Geode Capital Management LLC now owns 6,671,657 shares of the game software company’s stock valued at $954,358,000 after acquiring an additional 26,505 shares during the period. Legal & General Group Plc increased its stake in Electronic Arts by 2.1% in the second quarter. Legal & General Group Plc now owns 2,639,691 shares of the game software company’s stock valued at $367,789,000 after acquiring an additional 53,800 shares during the period. BNP PARIBAS ASSET MANAGEMENT Holding S.A. increased its stake in Electronic Arts by 28.1% in the third quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 940,942 shares of the game software company’s stock valued at $134,969,000 after acquiring an additional 206,623 shares during the period. Franklin Resources Inc. increased its stake in Electronic Arts by 8.4% in the third quarter. Franklin Resources Inc. now owns 863,899 shares of the game software company’s stock valued at $124,548,000 after acquiring an additional 66,797 shares during the period. Finally, abrdn plc increased its stake in Electronic Arts by 59.2% in the third quarter. abrdn plc now owns 858,840 shares of the game software company’s stock valued at $123,484,000 after acquiring an additional 319,335 shares during the period. Institutional investors own 90.23% of the company’s stock.

Insider Activity at Electronic Arts

In other Electronic Arts news, CFO Stuart Canfield sold 1,000 shares of the company’s stock in a transaction that occurred on Thursday, December 26th. The shares were sold at an average price of $148.18, for a total value of $148,180.00. Following the completion of the sale, the chief financial officer now owns 8,750 shares of the company’s stock, valued at approximately $1,296,575. This represents a 10.26 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Andrew Wilson sold 5,000 shares of the company’s stock in a transaction that occurred on Wednesday, November 20th. The shares were sold at an average price of $166.47, for a total transaction of $832,350.00. Following the completion of the sale, the chief executive officer now directly owns 52,615 shares of the company’s stock, valued at $8,758,819.05. The trade was a 8.68 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 26,000 shares of company stock worth $3,986,385 over the last ninety days. Company insiders own 0.22% of the company’s stock.

Electronic Arts Trading Down 1.7 %

Shares of NASDAQ EA opened at $116.56 on Monday. The company’s 50 day simple moving average is $152.43 and its 200 day simple moving average is $148.92. Electronic Arts Inc. has a fifty-two week low of $115.21 and a fifty-two week high of $168.50. The firm has a market capitalization of $30.57 billion, a P/E ratio of 29.96, a P/E/G 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.

Analysts Set New Price Targets

A number of analysts recently weighed in on the stock. Bank of America cut shares of Electronic Arts from a “buy” rating to a “neutral” rating and lowered their target price for the company from $170.00 to $130.00 in a research note on Thursday. DZ Bank upgraded shares of Electronic Arts from a “hold” rating to a “buy” rating and boosted their price target for the company from $135.00 to $177.00 in a research report on Thursday, October 31st. Roth Mkm reduced their price target on shares of Electronic Arts from $158.00 to $134.00 and set a “neutral” rating on the stock in a research report on Thursday. BMO Capital Markets lowered shares of Electronic Arts from an “outperform” rating to a “market perform” rating and reduced their price target for the company from $160.00 to $145.00 in a research report on Thursday. Finally, Stifel Nicolaus reduced their price target on shares of Electronic Arts from $167.00 to $159.00 and set a “hold” rating on the stock in a research report on Tuesday, January 21st. Eleven equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $159.79.

Electronic Arts 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.