Traders Buy Electronic Arts (EA) on Weakness After Insider Selling

Traders purchased shares of Electronic Arts Inc. (NASDAQ:EA) on weakness during trading on Thursday after an insider sold shares in the company. $55.80 million flowed into the stock on the tick-up and $43.06 million flowed out of the stock on the tick-down, for a money net flow of $12.74 million into the stock. Of all equities tracked, Electronic Arts had the 33rd highest net in-flow for the day. Electronic Arts traded down ($0.25) for the day and closed at $112.00Specifically, CFO Blake J. Jorgensen sold 10,000 shares of Electronic Arts stock in a transaction dated Tuesday, November 7th. The stock was sold at an average price of $111.94, for a total transaction of $1,119,400.00. Following the sale, the chief financial officer now directly owns 182,814 shares of the company’s stock, valued at $20,464,199.16. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Andrew Wilson sold 10,058 shares of Electronic Arts stock in a transaction dated Wednesday, November 1st. The stock was sold at an average price of $113.81, for a total value of $1,144,700.98. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 67,516 shares of company stock worth $7,357,395. 2.55% of the stock is currently owned by company insiders.

A number of equities research analysts recently weighed in on the company. Vetr downgraded Electronic Arts from a “sell” rating to a “strong sell” rating and set a $99.63 target price on the stock. in a research report on Monday. BMO Capital Markets raised Electronic Arts from a “market perform” rating to an “outperform” rating and decreased their target price for the stock from $112.39 to $97.00 in a research report on Monday. They noted that the move was a valuation call. Zacks Investment Research downgraded Electronic Arts from a “hold” rating to a “sell” rating in a research report on Tuesday, January 2nd. Wedbush reissued a “buy” rating on shares of Electronic Arts in a research report on Tuesday, January 2nd. Finally, Cowen reaffirmed a “hold” rating and set a $104.00 price objective on shares of Electronic Arts in a report on Thursday, December 21st. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and twenty-four have assigned a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus target price of $122.37.

The company has a debt-to-equity ratio of 0.23, a quick ratio of 2.38 and a current ratio of 2.38. The company has a market capitalization of $34,580.00, a P/E ratio of 29.55, a PEG ratio of 1.85 and a beta of 0.61.

Several large investors have recently bought and sold shares of EA. Oppenheimer & Co. Inc. raised its stake in shares of Electronic Arts by 24.8% in the second quarter. Oppenheimer & Co. Inc. now owns 4,193 shares of the game software company’s stock valued at $443,000 after acquiring an additional 832 shares during the last quarter. Commonwealth Bank of Australia raised its position in Electronic Arts by 491.4% in the 2nd quarter. Commonwealth Bank of Australia now owns 8,469 shares of the game software company’s stock worth $893,000 after purchasing an additional 7,037 shares during the last quarter. Eaton Vance Management raised its position in Electronic Arts by 0.6% in the 2nd quarter. Eaton Vance Management now owns 55,013 shares of the game software company’s stock worth $5,816,000 after purchasing an additional 345 shares during the last quarter. Martingale Asset Management L P raised its position in Electronic Arts by 672.1% in the 2nd quarter. Martingale Asset Management L P now owns 26,307 shares of the game software company’s stock worth $2,782,000 after purchasing an additional 22,900 shares during the last quarter. Finally, AJO LP bought a new position in Electronic Arts in the 2nd quarter worth approximately $4,140,000. Institutional investors own 93.51% of the company’s stock.

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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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