Wells Fargo & Company Upgrades Electronic Arts (NASDAQ:EA) to "Equal Weight"

Key Points

• Electronic Arts' stock rating has been upgraded to equal weight by Wells Fargo with a target price of $168.00, indicating a potential upside of 10.53% from its previous close.
• Recent analyst reports from JPMorgan, Oppenheimer, and TD Cowen have also increased their price targets for Electronic Arts, reflecting a generally positive outlook on the stock.
• Insider trading activity showed notable sales, with one insider selling 1,000 shares at an average price of $159.53, leading to a decrease in their position by 2.62%.

Electronic Arts (NASDAQ:EA - Get Free Report) was upgraded by stock analysts at Wells Fargo & Company to an "equal weight" rating in a research report issued on Monday, Marketbeat reports. The brokerage presently has a $168.00 price objective on the game software company's stock. Wells Fargo & Company's price target would indicate a potential upside of 6.95% from the stock's current price.

Several other research analysts also recently commented on the company. Roth Capital raised Electronic Arts from a "neutral" rating to a "buy" rating and boosted their target price for the stock from $175.00 to $185.00 in a research note on Tuesday, June 24th. Moffett Nathanson reissued a "neutral" rating and set a $163.00 target price on shares of Electronic Arts in a research note on Wednesday, May 7th. Oppenheimer boosted their target price on Electronic Arts from $170.00 to $185.00 and gave the stock an "outperform" rating in a research note on Wednesday, May 7th. Wedbush reaffirmed an "outperform" rating and issued a $210.00 price objective on shares of Electronic Arts in a research note on Tuesday, July 22nd. Finally, Hsbc Global Res raised Electronic Arts from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, May 7th. Sixteen analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $164.21.

Electronic Arts Price Performance

NASDAQ EA opened at $157.08 on Monday. The firm's 50 day moving average is $151.42 and its 200-day moving average is $143.24. Electronic Arts has a 12-month low of $115.21 and a 12-month high of $168.50. The company has a market capitalization of $39.47 billion, a PE ratio of 39.37, a price-to-earnings-growth ratio of 1.98 and a beta of 0.72. The company has a quick ratio of 0.95, a current ratio of 0.84 and a debt-to-equity ratio of 0.24.

Insiders Place Their Bets

In related news, insider Vijayanthimala Singh sold 1,000 shares of the company's stock in a transaction that occurred on Tuesday, July 1st. The stock was sold at an average price of $159.53, for a total transaction of $159,530.00. Following the completion of the transaction, the insider owned 37,131 shares in the company, valued at $5,923,508.43. This represents a 2.62% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Laura Miele sold 2,500 shares of the company's stock in a transaction that occurred on Tuesday, July 1st. The shares were sold at an average price of $159.50, for a total value of $398,750.00. Following the transaction, the insider owned 60,592 shares of the company's stock, valued at approximately $9,664,424. This represents a 3.96% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 30,729 shares of company stock worth $4,677,324 in the last ninety days. Insiders own 0.24% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the company. Putney Financial Group LLC bought a new stake in Electronic Arts during the 4th quarter valued at approximately $26,000. Salomon & Ludwin LLC increased its position in shares of Electronic Arts by 70.1% during the 2nd quarter. Salomon & Ludwin LLC now owns 165 shares of the game software company's stock valued at $26,000 after purchasing an additional 68 shares during the last quarter. Opal Wealth Advisors LLC bought a new position in shares of Electronic Arts during the 1st quarter valued at approximately $28,000. Bank of Jackson Hole Trust increased its position in shares of Electronic Arts by 56.4% during the 1st quarter. Bank of Jackson Hole Trust now owns 208 shares of the game software company's stock valued at $30,000 after purchasing an additional 75 shares during the last quarter. Finally, Frazier Financial Advisors LLC increased its position in shares of Electronic Arts by 328.9% during the 2nd quarter. Frazier Financial Advisors LLC now owns 193 shares of the game software company's stock valued at $31,000 after purchasing an additional 148 shares during the last quarter. 90.23% of the stock is owned by hedge funds and other 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.