Electronic Arts (NASDAQ:EA) Downgraded to Hold Rating by TD Cowen

Electronic Arts (NASDAQ:EA) was downgraded by investment analysts at TD Cowen from a “strong-buy” rating to a “hold” rating in a research note issued to investors on Wednesday,Zacks.com reports.

Several other equities analysts have also weighed in on the stock. Jefferies Financial Group lowered shares of Electronic Arts from a “buy” rating to a “hold” rating and boosted their target price for the company from $200.00 to $210.00 in a report on Tuesday. Cowen lowered shares of Electronic Arts from a “buy” rating to a “hold” rating in a report on Wednesday. Wall Street Zen lowered shares of Electronic Arts from a “buy” rating to a “hold” rating in a report on Saturday, August 2nd. Arete upgraded shares of Electronic Arts from a “neutral” rating to a “buy” rating and set a $192.00 target price on the stock in a report on Tuesday, August 5th. Finally, Oppenheimer lowered shares of Electronic Arts from an “outperform” rating to a “market perform” rating in a report on Tuesday. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, twenty-four have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $177.00.

Electronic Arts Stock Performance

NASDAQ:EA opened at $201.00 on Wednesday. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.84 and a quick ratio of 0.84. The firm has a market capitalization of $50.29 billion, a price-to-earnings ratio of 50.38, a PEG ratio of 3.04 and a beta of 0.77. The company’s 50-day moving average is $171.47 and its two-hundred day moving average is $156.16. Electronic Arts has a 1-year low of $115.21 and a 1-year high of $203.75.

Insider Activity at Electronic Arts

In other news, insider Laura Miele sold 2,500 shares of the company’s stock in a transaction that occurred on Friday, August 1st. The shares were sold at an average price of $155.49, for a total value of $388,725.00. Following the transaction, the insider directly owned 58,092 shares in the company, valued at approximately $9,032,725.08. This represents a 4.13% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Andrew Wilson sold 5,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 20th. The stock was sold at an average price of $171.05, for a total transaction of $855,250.00. Following the completion of the transaction, the chief executive officer owned 52,393 shares in the company, valued at approximately $8,961,822.65. This represents a 8.71% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 41,000 shares of company stock valued at $7,247,635. 0.24% of the stock is owned by insiders.

Institutional Investors Weigh In On Electronic Arts

Several large investors have recently added to or reduced their stakes in EA. Brighton Jones LLC increased its stake in Electronic Arts by 9.4% during the 4th quarter. Brighton Jones LLC now owns 3,420 shares of the game software company’s stock worth $500,000 after buying an additional 294 shares during the period. Merit Financial Group LLC increased its stake in Electronic Arts by 161.3% during the 1st quarter. Merit Financial Group LLC now owns 5,573 shares of the game software company’s stock worth $805,000 after buying an additional 3,440 shares during the period. Vest Financial LLC purchased a new stake in Electronic Arts during the 1st quarter worth approximately $38,014,000. Procyon Advisors LLC purchased a new stake in Electronic Arts during the 1st quarter worth approximately $739,000. Finally, Pallas Capital Advisors LLC increased its stake in Electronic Arts by 95.1% during the 1st quarter. Pallas Capital Advisors LLC now owns 4,301 shares of the game software company’s stock worth $622,000 after buying an additional 2,096 shares during the period. 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.