Gilder Gagnon Howe & Co. LLC Sells 6,575 Shares of Activision Blizzard, Inc. (ATVI)

Gilder Gagnon Howe & Co. LLC lessened its stake in shares of Activision Blizzard, Inc. (NASDAQ:ATVI) by 0.9% in the third quarter, HoldingsChannel reports. The firm owned 700,735 shares of the company’s stock after selling 6,575 shares during the quarter. Gilder Gagnon Howe & Co. LLC’s holdings in Activision Blizzard were worth $58,294,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of ATVI. CenturyLink Investment Management Co purchased a new stake in Activision Blizzard during the 2nd quarter worth about $886,000. Alecta Pensionsforsakring Omsesidigt increased its position in Activision Blizzard by 28.6% during the 2nd quarter. Alecta Pensionsforsakring Omsesidigt now owns 1,800,000 shares of the company’s stock worth $137,376,000 after purchasing an additional 400,000 shares in the last quarter. DnB Asset Management AS purchased a new stake in Activision Blizzard during the 2nd quarter worth about $7,064,000. Abner Herrman & Brock LLC increased its position in Activision Blizzard by 2.5% during the 2nd quarter. Abner Herrman & Brock LLC now owns 105,645 shares of the company’s stock worth $8,063,000 after purchasing an additional 2,557 shares in the last quarter. Finally, IFM Investors Pty Ltd increased its position in Activision Blizzard by 47.1% during the 2nd quarter. IFM Investors Pty Ltd now owns 32,640 shares of the company’s stock worth $2,491,000 after purchasing an additional 10,458 shares in the last quarter. Hedge funds and other institutional investors own 86.99% of the company’s stock.

A number of analysts recently commented on the company. BidaskClub cut Activision Blizzard from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, July 25th. ValuEngine lowered Activision Blizzard from a “buy” rating to a “hold” rating in a research note on Tuesday. MKM Partners decreased their price target on Activision Blizzard to $71.00 and set a “neutral” rating on the stock in a research note on Tuesday. Zacks Investment Research raised Activision Blizzard from a “hold” rating to a “buy” rating and set a $87.00 price target on the stock in a research note on Wednesday, July 4th. Finally, Morgan Stanley raised their price target on Activision Blizzard from $75.00 to $80.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 11th. Ten research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Activision Blizzard has a consensus rating of “Buy” and a consensus price target of $81.70.

In other news, CEO Riccardo Zacconi sold 19,761 shares of Activision Blizzard stock in a transaction dated Monday, August 20th. The stock was sold at an average price of $68.70, for a total value of $1,357,580.70. Following the transaction, the chief executive officer now directly owns 20,324 shares of the company’s stock, valued at approximately $1,396,258.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 1.29% of the company’s stock.

NASDAQ ATVI opened at $67.48 on Wednesday. The stock has a market capitalization of $52.48 billion, a PE ratio of 32.92, a PEG ratio of 1.74 and a beta of 0.86. Activision Blizzard, Inc. has a 1-year low of $57.29 and a 1-year high of $84.68. The company has a current ratio of 2.98, a quick ratio of 2.96 and a debt-to-equity ratio of 0.42.

Activision Blizzard (NASDAQ:ATVI) last released its quarterly earnings data on Thursday, August 2nd. The company reported $0.41 earnings per share for the quarter, beating the consensus estimate of $0.30 by $0.11. The business had revenue of $1.39 billion for the quarter, compared to analyst estimates of $1.38 billion. Activision Blizzard had a return on equity of 16.39% and a net margin of 6.96%. The company’s revenue was down 2.3% compared to the same quarter last year. During the same period in the previous year, the company posted $0.32 EPS. Sell-side analysts expect that Activision Blizzard, Inc. will post 2.49 EPS for the current fiscal year.

Activision Blizzard Company Profile

Activision Blizzard, Inc develops and distributes content and services on video game consoles, personal computers (PC), and mobile devices. The company operates through three segments: Activision Publishing, Inc; Blizzard Entertainment, Inc; and King Digital Entertainment. The company develops, publishes, and sells interactive software products and entertainment content for the console and PC platforms through retail and digital channels, including subscription, full-game, and in-game sales, as well as by licensing software to third-party or related-party companies; and offers downloadable content.

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Institutional Ownership by Quarter for Activision Blizzard (NASDAQ:ATVI)

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