EA Stock Soars, Key Executives Opt To Sell Their Shares
Well, the price went way up, so it was time to sell.
After the stock value of Electronic Arts shares soared to a six-year high (thanks to a positive earnings report released last week), key executives opted to sell off their stake in the company.
As noted by CVG, EA Games Executive Vice President Patrick Soderlund and EA general counsel Stephen Bene sold all their shares, and COO Peter Moore sold half of his.
Soderlund's 36,133 shares brought in $1,247,936, Bene's 7,771 shares resulted in $259,255, and Moore's 100,000 shares generated a whopping 3,453,140 (he has 108,691 shares remaining). With the stock price sitting in the mid-30s, it's no wonder these guys wanted to cash out. However, EA could be in line for another big year, as they're looking to release Dragon Age: Inquisition, The Sims 4, Star Wars: Battlefront and more.
Even so, when the stock hits a six-year high, you don't want to miss out.
5/12/2014 11:04:56 AM Ben Dutka