Investors are a little more bearish on shares of Electronic Arts Inc recently if you take a look at the uptick in short interest. The firm realized a rise in short interest between September 29, 2017 and October 13, 2017 of 13.96%. Short interest grew from 4,498,520 to 5,126,725 over that timeframe. Days to cover increased 1.0 to 3.0 and the short interest percentage is 0.02% as of October 13.
There has been some selling insider activity on Electronic Arts Inc (NASDAQ:EA) recently. CEO Andrew Wilson disclosed the sale of 10,058 shares of (EA). The shares were purchased at an average price of $114.35. The CEO now owns $24,257,409 of the stock according to the SEC filing. Patrick Soderlund, EVP, EA Worldwide Studios reported the sale of 8,000 shares. The shares were sold on November 1st for an average price of $114.18. Soderlund now owns $7,977,871 of the stock per the Form 4 SEC filing.
EVP Global Publishing Laura Miele sold 750 shares at an average price of $114.62 on Wed the 1st. That brings the EVP Global Publishing’s holdings to $602,787 as recorded in a recent Form 4 SEC filing.
Additionally, here are a few investment firms who have increased or decreased their stake in (EA). Baird Financial Group, Inc. bolstered its ownership by buying 7,937 shares an increase of 236.6% in the quarter. Baird Financial Group, Inc. currently owns 11,292 shares valued at $1,333,000. The total value of its holdings increased 275.5%. Commonwealth Of Pennsylvania Public School Empls Retrmt SYS grew its position by buying 2,075 shares an increase of 9.0% as of 09/30/2017. Commonwealth Of Pennsylvania Public School Empls Retrmt SYS now controls 25,108 shares worth $2,964,000. The value of the position overall is up by 21.7%.
As of quarter end Tredje Ap-fonden had sold a total of 39,180 shares trimming its position 54.0%. The value in dollars decreased from $7,670,000 to $3,940,000 a change of $3,730,000 for the reporting period. Raymond James & Associates expanded its investment by buying 13,079 shares an increase of 12.5% from 06/30/2017 to 09/30/2017. Raymond James & Associates owns 117,973 shares with a value of $13,928,000. The total value of its holdings increased 25.6%.
Equity analyst BMO Capital Markets lowered the price target of the stock on November 2 changing the forecast from $100.00 to $97.00 with a “Market Perform” recommendation. On November 1 Robert W. Baird maintained a company rating of “Buy” projecting a price of $130.00.
Barclays PLC lowered the price target on November 1 changing the price objective from $129.00 to $127.00 with a rating of “Overweight”. November 1 investment analysts at Piper Jaffray Companies kept the company rating at “Buy” targeting a price of $130.00.
Wedbush updated guidance on EA and giving a rating of “Buy” and establishing a price target of $136.00. On October 26 analysts at Wedbush released research on EA with a rating of “Buy” and a price target of $136.00.
The company is trading down since yesterday’s close of 112.27. The company currently has a P/E ratio of 29.51 and market capitalization is 34.49B. In the last earnings report the EPS was $3.79 with 307.93M shares outstanding.
Electronic Arts Inc., launched on May 8, 1991, 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 Business’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. The Company markets and sells its games and services through retail channels and through digital distribution channels..Advertisement