Activision Blizzard’s (ATVI) “Buy” Rating Reiterated at Stifel Nicolaus

Stifel Nicolaus restated their buy rating on shares of Activision Blizzard, Inc (NASDAQ:ATVI) in a research note published on Sunday morning.

A number of other research firms have also recently issued reports on ATVI. Goldman Sachs Group, Inc. (The) began coverage on shares of Activision Blizzard in a research note on Friday, September 8th. They issued a neutral rating and a $65.00 target price for the company. KeyCorp reiterated a buy rating and issued a $74.00 target price on shares of Activision Blizzard in a research note on Friday, September 8th. Vetr cut shares of Activision Blizzard from a hold rating to a sell rating and set a $61.90 target price for the company. in a research note on Thursday, August 31st. Piper Jaffray Companies reiterated an overweight rating and issued a $69.00 target price on shares of Activision Blizzard in a research note on Friday, September 8th. Finally, Wedbush lifted their target price on shares of Activision Blizzard to $3.00 and gave the company an outperform rating in a research note on Friday, August 4th. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating, twenty-four have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has a consensus rating of Buy and a consensus price target of $62.87.

Activision Blizzard (NASDAQ ATVI) opened at 66.09 on Friday. The company has a market capitalization of $49.89 billion, a price-to-earnings ratio of 44.63 and a beta of 1.08. The company has a 50-day moving average price of $62.86 and a 200-day moving average price of $56.31. Activision Blizzard has a one year low of $35.12 and a one year high of $66.58.

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In other news, Director Brian G. Kelly sold 98,879 shares of the business’s stock in a transaction on Tuesday, August 8th. The shares were sold at an average price of $61.87, for a total value of $6,117,643.73. Following the completion of the transaction, the director now owns 189,791 shares of the company’s stock, valued at approximately $11,742,369.17. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Brian G. Kelly sold 111,239 shares of the business’s stock in a transaction on Monday, August 7th. The shares were 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 of the company’s stock, valued at approximately $11,850,550.04. 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. 2.12% of the stock is owned by company insiders.

Hedge funds have recently made changes to their positions in the company. Allen Investment Management LLC acquired a new position in shares of Activision Blizzard in the 2nd quarter valued at $2,095,000. DnB Asset Management AS grew its holdings in shares of Activision Blizzard by 10.6% in the 2nd quarter. DnB Asset Management AS now owns 80,653 shares of the company’s stock valued at $4,643,000 after buying an additional 7,700 shares during the period. Pacad Investment Ltd. grew its holdings in shares of Activision Blizzard by 131.0% in the 2nd quarter. Pacad Investment Ltd. now owns 119,447 shares of the company’s stock valued at $6,877,000 after buying an additional 67,742 shares during the period. Scout Investments Inc. grew its holdings in shares of Activision Blizzard by 143.6% in the 1st quarter. Scout Investments Inc. now owns 614,690 shares of the company’s stock valued at $20,801,000 after buying an additional 362,384 shares during the period. Finally, National Pension Service grew its holdings in shares of Activision Blizzard by 9.9% in the 2nd quarter. National Pension Service now owns 557,658 shares of the company’s stock valued at $32,110,000 after buying an additional 50,461 shares during the period. 86.33% of the stock is owned by institutional investors.

Activision Blizzard Company 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.

Analyst Recommendations for Activision Blizzard (NASDAQ:ATVI)

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