Electronic Arts (NASDAQ:EA) Sets New 12-Month High - Here's What Happened

Key Points

• Electronic Arts reached a new 52-week high, trading at $209.95 and giving the company a market capitalization of approximately $52.98 billion.
• Analyst sentiment remains cautious: EA has an average rating of “Hold” from MarketBeat, with an average price target of $201.42, below the latest trading price.
• Insiders sold 31,206 shares worth about $6.3 million during the last quarter, while institutional investors collectively own 90.23% of the company’s stock.

Electronic Arts Inc. (NASDAQ:EA - Get Free Report)'s stock price hit a new 52-week high during trading on Monday . The stock traded as high as $209.95 and last traded at $209.95, with a volume of 119778 shares trading hands. The stock had previously closed at $209.86.

Analyst Ratings Changes

EA has been the subject of a number of recent analyst reports. Weiss Ratings upgraded shares of Electronic Arts from a "hold (c)" rating to a "hold (c+)" rating in a research report on Monday, May 18th. Argus lowered Electronic Arts from a "buy" rating to a "hold" rating in a research note on Thursday, May 28th. Wall Street Zen upgraded Electronic Arts to a "hold" rating in a research report on Saturday, June 6th. Citigroup upped their target price on Electronic Arts from $202.00 to $204.00 and gave the stock a "neutral" rating in a research note on Thursday, May 7th. Finally, Zacks Research cut Electronic Arts from a "hold" rating to a "strong sell" rating in a report on Monday, July 13th. Two analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and two have assigned a Sell rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Hold" and an average target price of $201.42.

Electronic Arts Stock Performance

The company's 50-day moving average price is $205.03 and its two-hundred day moving average price is $202.97. The stock has a market cap of $52.98 billion, a PE ratio of 60.15, a PEG ratio of 2.35 and a beta of 0.64. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.05 and a current ratio of 1.05.

Insider Activity at Electronic Arts

In related news, CFO Stuart Canfield sold 1,500 shares of the firm's stock in a transaction dated Wednesday, May 20th. The stock was sold at an average price of $201.36, for a total transaction of $302,040.00. Following the transaction, the chief financial officer directly owned 25,991 shares of the company's stock, valued at approximately $5,233,547.76. This trade represents a 5.46% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, EVP Jacob J. Schatz sold 5,000 shares of the business's stock in a transaction that occurred on Wednesday, May 20th. The stock was sold at an average price of $201.19, for a total value of $1,005,950.00. Following the completion of the sale, the executive vice president owned 42,287 shares of the company's stock, valued at $8,507,721.53. The trade was a 10.57% decrease in their position. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold a total of 31,206 shares of company stock worth $6,292,058 in the last quarter. 0.24% of the stock is owned by company insiders.

Hedge Funds Weigh In On Electronic Arts

A number of large investors have recently added to or reduced their stakes in the business. Ascentis Independent Advisors bought a new position in shares of Electronic Arts during the first quarter valued at about $27,000. Torren Management LLC lifted its stake in shares of Electronic Arts by 235.0% in the 2nd quarter. Torren Management LLC now owns 134 shares of the game software company's stock valued at $27,000 after acquiring an additional 94 shares during the last quarter. MV Capital Management Inc. purchased a new stake in Electronic Arts during the 4th quarter valued at about $28,000. Asset Planning Inc purchased a new stake in Electronic Arts during the 1st quarter valued at about $32,000. Finally, Whipplewood Advisors LLC bought a new position in Electronic Arts during the 1st quarter worth approximately $32,000. Hedge funds and other institutional investors own 90.23% of the company's stock.

About Electronic Arts

Electronic Arts Inc NASDAQ: EA is a global interactive entertainment company headquartered in Redwood City, California. Founded in 1982 by Trip Hawkins, EA develops, publishes and distributes video games and related content for a variety of platforms, including consoles, personal computers and mobile devices. The company combines in-house development, partnerships and studio acquisitions to create and maintain a portfolio of entertainment properties and live-service experiences for players worldwide.

EA's product lineup spans several well-known franchises and genres.

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