Laura Miele, President of EA Entertainment at Electronic Arts Inc . (NASDAQ:EA), a gaming giant with a market capitalization of $38.4 billion and strong financial health according to InvestingPro analysis, recently sold shares in the company, according to a filing with the Securities and Exchange Commission. Miele sold a total of 2,500 shares of common stock on January 2, 2025, amounting to $365,371. The shares were sold at prices ranging from $145.43 to $147.42.
The transaction was carried out under a 10b5-1 trading plan, which Miele established on August 2, 2024. Following the sale, Miele retains ownership of 50,014 shares of Electronic Arts.
In other recent news, Electronic Arts (EA) has been the focus of several financial analysts. Stifel downgraded EA's stock from Buy to Hold, despite a positive long-term outlook, and adjusted its price target to $167.00. This change is based on a reevaluation of Stifel's game model and net bookings estimates for the company. On the other hand, Citi maintained a Neutral rating but increased the price target from $162.00 to $163.00, reflecting EA's strong second quarter results for the fiscal year 2025.
EA's recent developments include a record-breaking second quarter with net bookings reaching $2.08 billion, marking a 14% increase from the previous year. This surge was primarily driven by the success of EA's sports franchises, including EA SPORTS College Football 25. Following these robust results, EA has raised its full-year guidance.
The company is also focusing on strategic initiatives such as enhancing online communities and leveraging generative AI. Plans include expanding The Sims as a platform and collaborating with Amazon (NASDAQ:AMZN) MGM Studios for a film adaptation. EA's CEO, Andrew Wilson, expressed confidence in the breakout potential of the upcoming title "Veilguard."
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