Pinnacle Associates Ltd. acquired a new position in Activision Blizzard, Inc (NASDAQ:ATVI) in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 4,059 shares of the company’s stock, valued at approximately $234,000.
A number of other hedge funds have also modified their holdings of ATVI. BlackRock Inc. grew its holdings in Activision Blizzard by 3,032.9% in the 1st quarter. BlackRock Inc. now owns 48,912,065 shares of the company’s stock worth $2,438,753,000 after buying an additional 47,350,818 shares in the last quarter. Jennison Associates LLC lifted its position in Activision Blizzard by 82.6% in the second quarter. Jennison Associates LLC now owns 22,287,591 shares of the company’s stock worth $1,283,097,000 after purchasing an additional 10,083,717 shares during the period. Egerton Capital UK LLP lifted its position in Activision Blizzard by 225.7% in the first quarter. Egerton Capital UK LLP now owns 12,219,008 shares of the company’s stock worth $609,240,000 after purchasing an additional 8,467,902 shares during the period. Caxton Associates LP acquired a new stake in Activision Blizzard in the first quarter worth approximately $149,610,000. Finally, Iridian Asset Management LLC CT acquired a new stake in Activision Blizzard in the first quarter worth approximately $148,547,000. 86.33% of the stock is owned by institutional investors and hedge funds.
Shares of Activision Blizzard, Inc (ATVI) opened at 64.93 on Monday. The company has a market cap of $49.02 billion, a PE ratio of 43.84 and a beta of 1.08. Activision Blizzard, Inc has a 1-year low of $35.12 and a 1-year high of $66.58. The company has a 50 day moving average of $62.71 and a 200 day moving average of $56.00.
A number of brokerages have recently commented on ATVI. Goldman Sachs Group, Inc. (The) began coverage on Activision Blizzard in a research report on Friday. They set a “neutral” rating and a $65.00 price objective for the company. KeyCorp restated a “buy” rating and issued a $74.00 target price on shares of Activision Blizzard in a report on Friday. Vetr lowered Activision Blizzard from a “hold” rating to a “sell” rating and set a $61.90 target price for the company. in a report on Thursday, August 31st. Piper Jaffray Companies restated an “overweight” rating and issued a $69.00 target price on shares of Activision Blizzard in a report on Friday. Finally, Stifel Nicolaus reaffirmed a “buy” rating on shares of Activision Blizzard in a research note on Sunday. Two analysts have rated the stock with a sell rating, two have assigned a hold rating, twenty-four have assigned a buy rating and one has given a strong buy rating to the company. Activision Blizzard currently has an average rating of “Buy” and a consensus price target of $62.87.
In other Activision Blizzard news, Director Brian G. Kelly sold 3,685,000 shares of the business’s stock in a transaction dated Wednesday, August 9th. The shares were sold at an average price of $61.93, for a total value of $228,212,050.00. Following the completion of the sale, the director now owns 189,791 shares of the company’s stock, valued at approximately $11,753,756.63. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Riccardo Zacconi sold 19,761 shares of the business’s stock in a transaction dated Friday, August 18th. The shares were sold at an average price of $61.32, for a total transaction of $1,211,744.52. Following the completion of the sale, the chief executive officer now directly owns 48,472 shares of the company’s stock, valued at approximately $2,972,303.04. The disclosure for this sale can be found here. Insiders sold a total of 4,074,879 shares of company stock valued at $252,196,001 in the last three months. Insiders own 2.12% of the company’s stock.
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Activision Blizzard Profile
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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