Activision Blizzard (NASDAQ:ATVI) was downgraded by analysts at Vetr from a “strong-buy” rating to a “buy” rating in a note issued to investors on Monday. They presently have a $83.48 price objective on the stock. Vetr‘s price target points to a potential upside of 9.94% from the stock’s previous close.
A number of other analysts also recently issued reports on the stock. SunTrust Banks set a $77.00 price target on shares of Activision Blizzard and gave the stock a “buy” rating in a report on Wednesday, January 24th. Goldman Sachs Group raised shares of Activision Blizzard from a “neutral” rating to a “buy” rating in a report on Tuesday, December 12th. Zacks Investment Research raised shares of Activision Blizzard from a “hold” rating to a “buy” rating and set a $71.00 price target on the stock in a report on Tuesday, January 2nd. Argus increased their price target on shares of Activision Blizzard from $70.00 to $81.00 and gave the stock a “buy” rating in a report on Friday, February 16th. Finally, KeyCorp set a $83.00 price target on shares of Activision Blizzard and gave the stock a “buy” rating in a report on Friday, February 9th. Five investment analysts have rated the stock with a hold rating, twenty-six have given a buy rating and one has issued a strong buy rating to the company. Activision Blizzard has a consensus rating of “Buy” and an average price target of $75.02.
Shares of Activision Blizzard (NASDAQ:ATVI) opened at $75.93 on Monday. Activision Blizzard has a twelve month low of $47.80 and a twelve month high of $79.63. The stock has a market cap of $57,600.00, a price-to-earnings ratio of 63.81, a P/E/G ratio of 2.08 and a beta of 1.10. The company has a current ratio of 1.78, a quick ratio of 1.77 and a debt-to-equity ratio of 0.46.
In other news, insider Stephen G. Wereb sold 120,521 shares of the stock in a transaction dated Thursday, March 1st. The shares were sold at an average price of $72.38, for a total value of $8,723,309.98. Following the completion of the sale, the insider now directly owns 48,511 shares in the company, valued at $3,511,226.18. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Riccardo Zacconi sold 19,761 shares of the stock in a transaction dated Tuesday, February 20th. The shares were sold at an average price of $70.99, for a total transaction of $1,402,833.39. Following the completion of the sale, the chief executive officer now owns 34,398 shares of the company’s stock, valued at $2,441,914.02. The disclosure for this sale can be found here. Insiders sold 2,608,282 shares of company stock valued at $184,660,583 over the last quarter. Company insiders own 2.12% of the company’s stock.
Hedge funds and other institutional investors have recently modified their holdings of the company. Oppenheimer & Co. Inc. raised its position in shares of Activision Blizzard by 94.4% in the third quarter. Oppenheimer & Co. Inc. now owns 66,349 shares of the company’s stock valued at $4,280,000 after buying an additional 32,224 shares during the last quarter. Carmignac Gestion increased its position in Activision Blizzard by 0.5% during the third quarter. Carmignac Gestion now owns 5,920,188 shares of the company’s stock worth $381,911,000 after purchasing an additional 26,761 shares during the last quarter. Pacer Advisors Inc. increased its position in Activision Blizzard by 13.7% during the third quarter. Pacer Advisors Inc. now owns 28,080 shares of the company’s stock worth $1,811,000 after purchasing an additional 3,391 shares during the last quarter. QUANTRES ASSET MANAGEMENT Ltd acquired a new stake in Activision Blizzard during the fourth quarter worth about $1,171,000. Finally, Fox Run Management L.L.C. acquired a new stake in Activision Blizzard during the fourth quarter worth about $731,000. Institutional investors and hedge funds own 85.61% of the company’s stock.
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.
To view Vetr’s full report, visit Vetr’s official website.
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