Electronic Arts Inc. (NASDAQ:EA) Short Interest Update

Electronic Arts Inc. (NASDAQ:EA) was the recipient of a large decrease in short interest during the month of May. As of May 15th, there was short interest totalling 5,910,000 shares, a decrease of 8.5% from the April 30th total of 6,460,000 shares. Based on an average daily trading volume, of 3,970,000 shares, the days-to-cover ratio is currently 1.5 days. Approximately 2.1% of the shares of the stock are short sold.

Shares of NASDAQ EA traded up $2.46 during trading on Friday, hitting $119.82. The company had a trading volume of 2,271,158 shares, compared to its average volume of 3,386,283. The company has a market cap of $34.00 billion, a P/E ratio of 11.69, a PEG ratio of 4.18 and a beta of 0.91. Electronic Arts has a 52 week low of $85.69 and a 52 week high of $121.76. The business’s 50-day moving average is $113.32 and its 200 day moving average is $106.36. The company has a debt-to-equity ratio of 0.05, a quick ratio of 2.84 and a current ratio of 2.45.

Electronic Arts (NASDAQ:EA) last posted its quarterly earnings results on Tuesday, May 5th. The game software company reported $1.09 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.73 by $0.36. Electronic Arts had a return on equity of 16.79% and a net margin of 54.88%. The company had revenue of $1.21 billion for the quarter, compared to analysts’ expectations of $1.17 billion. On average, research analysts expect that Electronic Arts will post 3.86 EPS for the current year.

Several research analysts have commented on the company. Nomura Instinet raised their price objective on Electronic Arts from $120.00 to $132.00 and gave the company a “buy” rating in a research report on Wednesday, May 6th. Piper Sandler boosted their price objective on Electronic Arts from $106.00 to $124.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 28th. Needham & Company LLC boosted their price objective on Electronic Arts from $120.00 to $135.00 and gave the stock a “buy” rating in a research report on Wednesday, May 6th. BMO Capital Markets downgraded Electronic Arts from an “outperform” rating to a “market perform” rating and reduced their price objective for the stock from $130.00 to $110.00 in a research report on Monday, February 3rd. Finally, Stifel Nicolaus boosted their price objective on Electronic Arts from $111.00 to $126.00 and gave the stock a “buy” rating in a research report on Friday, January 24th. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating, twenty have assigned a buy rating and two have issued a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus price target of $122.64.

In other news, CFO Blake J. Jorgensen sold 5,200 shares of the firm’s stock in a transaction on Tuesday, March 10th. The stock was sold at an average price of $100.75, for a total transaction of $523,900.00. Following the sale, the chief financial officer now owns 74,250 shares in the company, valued at $7,480,687.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, General Counsel Jacob J. Schatz sold 3,053 shares of the firm’s stock in a transaction on Monday, May 11th. The stock was sold at an average price of $117.60, for a total value of $359,032.80. Following the sale, the general counsel now owns 19,956 shares in the company, valued at approximately $2,346,825.60. The disclosure for this sale can be found here. In the last quarter, insiders have sold 217,947 shares of company stock worth $24,794,759. 2.18% of the stock is owned by insiders.

A number of large investors have recently made changes to their positions in EA. Engrave Wealth Partners LLC acquired a new stake in Electronic Arts during the 4th quarter valued at $25,000. Arden Trust Co acquired a new stake in Electronic Arts during the 1st quarter valued at $26,000. Front Row Advisors LLC raised its stake in Electronic Arts by 904.0% during the 1st quarter. Front Row Advisors LLC now owns 251 shares of the game software company’s stock valued at $29,000 after purchasing an additional 226 shares during the period. BDO Wealth Advisors LLC acquired a new stake in Electronic Arts during the 1st quarter valued at $30,000. Finally, Contravisory Investment Management Inc. acquired a new stake in Electronic Arts during the 1st quarter valued at $33,000. 91.28% of the stock is currently owned by 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. The company develops and publishes games and services across various genres, such as sports, first-person shooter, action, role-playing, and simulation primarily under the Battlefield, Mass Effect, Need for Speed, The Sims, and Plants v.

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