BidaskClub upgraded shares of Activision Blizzard, Inc (NASDAQ:ATVI) from a hold rating to a buy rating in a research note issued to investors on Saturday.
Other analysts have also issued research reports about the company. UBS AG reissued a buy rating and set a $60.00 price objective (up previously from $57.00) on shares of Activision Blizzard in a research note on Friday, May 5th. Stifel Nicolaus increased their price objective on Activision Blizzard from $59.00 to $60.00 and gave the company a buy rating in a research note on Monday, May 8th. Vetr lowered Activision Blizzard from a strong-buy rating to a buy rating and set a $59.65 price objective for the company. in a research note on Monday, May 8th. Wedbush set a $63.00 price objective on Activision Blizzard and gave the company a buy rating in a research note on Saturday, May 6th. Finally, Benchmark Co. reissued a buy rating and set a $57.88 price objective (up previously from $53.96) on shares of Activision Blizzard in a research note on Monday, May 1st. One investment analyst has rated the stock with a sell rating, one has issued a hold rating, twenty-four have issued a buy rating and one has issued a strong buy rating to the stock. The stock presently has an average rating of Buy and a consensus price target of $62.56.
Activision Blizzard (ATVI) traded up 1.04% during mid-day trading on Friday, hitting $62.01. 4,415,845 shares of the stock were exchanged. The stock’s 50-day moving average is $60.72 and its 200 day moving average is $53.83. Activision Blizzard has a 52 week low of $35.12 and a 52 week high of $64.06. The company has a market capitalization of $46.81 billion, a PE ratio of 41.87 and a beta of 1.07.
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In other news, Director Brian G. Kelly sold 111,239 shares of the firm’s stock in a transaction on Monday, August 7th. The stock was sold at an average price of $62.44, for a total transaction of $6,945,763.16. Following the completion of the transaction, the director now directly owns 189,791 shares in the company, valued at $11,850,550.04. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Riccardo Zacconi sold 19,761 shares of the firm’s stock in a transaction on Friday, August 18th. The shares were sold at an average price of $61.32, for a total value of $1,211,744.52. Following the transaction, the chief executive officer now owns 48,472 shares of the company’s stock, valued at $2,972,303.04. The disclosure for this sale can be found here. Insiders have sold 4,074,879 shares of company stock valued at $252,196,001 over the last 90 days. Corporate insiders own 2.12% of the company’s stock.
Institutional investors have recently modified their holdings of the stock. Bank of Montreal Can increased its position in shares of Activision Blizzard by 5.6% in the first quarter. Bank of Montreal Can now owns 209,734 shares of the company’s stock valued at $10,456,000 after buying an additional 11,109 shares during the last quarter. Fox Run Management L.L.C. bought a new position in shares of Activision Blizzard during the first quarter valued at $329,000. Nisa Investment Advisors LLC increased its position in shares of Activision Blizzard by 121.0% in the first quarter. Nisa Investment Advisors LLC now owns 40,189 shares of the company’s stock valued at $1,997,000 after buying an additional 22,000 shares during the last quarter. State of Alaska Department of Revenue bought a new position in shares of Activision Blizzard during the first quarter valued at $476,000. Finally, Candriam Luxembourg S.C.A. increased its position in shares of Activision Blizzard by 318.2% in the first quarter. Candriam Luxembourg S.C.A. now owns 107,854 shares of the company’s stock valued at $5,378,000 after buying an additional 82,065 shares during the last quarter. Hedge funds and other institutional investors own 87.39% of the company’s stock.
About Activision Blizzard
Activision Blizzard, Inc is a developer and publisher of interactive entertainment content and services. The Company develops and distributes content and services across various gaming platforms, including video game consoles, personal computers (PC) and mobile devices. Its segments include Activision Publishing, Inc (Activision), Blizzard Entertainment, Inc (Blizzard), King Digital Entertainment (King) and Other.
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