Wellington Management Group LLP Purchases Shares of 18,584 Electronic Arts Inc. $EA

Wellington Management Group LLP acquired a new position in Electronic Arts Inc. (NASDAQ:EA) during the 2nd quarter, HoldingsChannel reports. The fund acquired 18,584 shares of the game software company’s stock, valued at approximately $3,810,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Resona Asset Management Co. Ltd. boosted its stake in shares of Electronic Arts by 12.5% during the 1st quarter. Resona Asset Management Co. Ltd. now owns 108,908 shares of the game software company’s stock worth $22,185,000 after acquiring an additional 12,095 shares in the last quarter. Swiss National Bank increased its stake in shares of Electronic Arts by 8.0% in the 1st quarter. Swiss National Bank now owns 704,400 shares of the game software company’s stock valued at $143,606,000 after purchasing an additional 51,900 shares in the last quarter. Mizuho Markets Americas LLC purchased a new position in shares of Electronic Arts in the 4th quarter valued at about $2,043,000. Norges Bank acquired a new position in Electronic Arts in the 4th quarter worth about $643,674,000. Finally, Geode Capital Management LLC raised its holdings in Electronic Arts by 2.2% in the 4th quarter. Geode Capital Management LLC now owns 6,764,572 shares of the game software company’s stock worth $1,382,030,000 after purchasing an additional 143,195 shares during the period. Institutional investors and hedge funds own 90.23% of the company’s stock.

Insider Buying and Selling at Electronic Arts

In other news, CEO Andrew Wilson sold 5,000 shares of Electronic Arts stock in a transaction that occurred on Monday, June 15th. The stock was sold at an average price of $203.12, for a total value of $1,015,600.00. Following the sale, the chief executive officer directly owned 80,974 shares of the company’s stock, valued at $16,447,438.88. The trade was a 5.82% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Vijayanthimala Singh sold 1,200 shares of the business’s stock in a transaction that occurred on Monday, June 15th. The stock was sold at an average price of $203.00, for a total value of $243,600.00. Following the sale, the insider owned 26,360 shares of the company’s stock, valued at $5,351,080. The trade was a 4.35% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 8,700 shares of company stock valued at $1,766,950 over the last quarter. 0.24% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

EA has been the topic of several research analyst reports. Argus lowered Electronic Arts from a “buy” rating to a “hold” rating in a report on Thursday, May 28th. Weiss Ratings raised Electronic Arts from a “hold (c)” rating to a “hold (c+)” rating in a research note on Monday, May 18th. Wall Street Zen upgraded Electronic Arts to a “hold” rating in a research report on Saturday, June 6th. Finally, Zacks Research cut shares of Electronic Arts from a “hold” rating to a “strong sell” rating in a research note on Monday, July 13th. One analyst has rated the stock with a Buy rating, thirteen have issued a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, Electronic Arts currently has an average rating of “Reduce” and an average price target of $206.50.

Electronic Arts Price Performance

EA stock opened at $209.70 on Thursday. Electronic Arts Inc. has a 52 week low of $159.10 and a 52 week high of $210.20. The company has a quick ratio of 1.05, a current ratio of 1.21 and a debt-to-equity ratio of 0.21. The firm has a 50-day simple moving average of $208.79 and a 200-day simple moving average of $204.42. The stock has a market capitalization of $52.93 billion, a P/E ratio of 49.23 and a beta of 0.64.

Electronic Arts (NASDAQ:EA) last issued its quarterly earnings results on Monday, August 3rd. The game software company reported $1.58 earnings per share for the quarter. Electronic Arts had a net margin of 13.80% and a return on equity of 22.45%. The firm had revenue of $1.99 billion for the quarter.

About Electronic Arts

Electronic Arts Inc (NASDAQ:EA) is a global developer and publisher of interactive entertainment. The company creates and distributes games for consoles, personal computers, mobile devices and online platforms, with business activities spanning full-game sales, downloadable content, subscriptions and live services.

Electronic Arts’ portfolio includes sports franchises such as EA Sports FC, Madden NFL, College Football, NHL and UFC, as well as entertainment and action titles including The Sims, Battlefield, Apex Legends, Need for Speed and Plants vs.