A senior executive at video game producer Electronic Arts (EA) has sold company stock.
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Vijayanthimala Singh, Electronic Arts’ Chief People Officer, sold a thousand shares of common stock at an average price of $143.24, netting himself $143,000. Singh is the latest EA executive to sell company stock in the last two week.
The stock sales come after EA announced that it was getting together with Comcast (CMCSA) on a new partnership related to the launch of EA Sports FC 25. The partnership gives EA Sports FC 25 players access to Xfinity and Peacock, Comcast’s streaming arm.
A Growing Push for Generative AI
Separately, EA is reportedly was looking to go “deep into artificial intelligence” when it comes to game development. EA went to great lengths to describe what generative AI could do for video games, including using real-world data to interpret what two teams in the real world would do in a game situation.
But with artists across the sphere crying foul—one report in Forbes detailed commercial artists growing increasingly “outspoken” about generative AI, with one, Karla Ortiz, declaring generative AI products to be “…riddled with theft and legal problems.”—it remains to be seen if AI will be a time-saving boon to development, or the death of whatever goodwill EA still has left to its name. Considering that EA spent two years, 2012 and 2013, atop the Consumerist list of “most hated companies,” that goodwill might be in short supply.
Is Electronic Arts Stock a Buy?
Turning to Wall Street, analysts have a Moderate Buy consensus rating on EA stock based on 11 Buy and seven Hold recommendations assigned in the past three months, as indicated by the graphic below. After a 20.4% rally in its share price over the past year, the average EA price target of $163.44 per share implies 14.15% upside potential.
