Activision Blizzard, Inc (NASDAQ:ATVI)‘s stock had its “outperform” rating restated by equities research analysts at Cowen and Company in a report issued on Wednesday. They currently have a $66.00 price objective on the stock, up from their prior price objective of $59.00. Cowen and Company’s target price suggests a potential upside of 9.62% from the company’s current price.
Other analysts also recently issued research reports about the company. Wedbush set a $63.00 price target on Activision Blizzard and gave the stock a “buy” rating in a research note on Saturday, May 6th. UBS AG reiterated a “buy” rating and set a $60.00 price target (up previously from $57.00) on shares of Activision Blizzard in a research note on Friday, May 5th. Piper Jaffray Companies reiterated an “overweight” rating and set a $65.00 price target on shares of Activision Blizzard in a research note on Tuesday, July 18th. Credit Suisse Group upped their price target on Activision Blizzard from $61.00 to $62.00 and gave the stock an “outperform” rating in a research note on Monday, May 15th. Finally, Oppenheimer Holdings, Inc. upped their price target on Activision Blizzard from $60.00 to $70.00 and gave the stock an “outperform” rating in a research note on Thursday, June 22nd. One research analyst has rated the stock with a sell rating, two have issued a hold rating, twenty-three have given a buy rating and one has issued a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average target price of $62.36.
Shares of Activision Blizzard (NASDAQ:ATVI) traded up 0.98% during midday trading on Wednesday, hitting $60.80. The company had a trading volume of 3,576,830 shares. The firm has a market cap of $45.90 billion, a price-to-earnings ratio of 41.05 and a beta of 1.07. The company’s 50 day moving average is $60.31 and its 200 day moving average is $52.86. Activision Blizzard has a one year low of $35.12 and a one year high of $64.06.
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In other news, CEO of King Digital Riccardo Zacconi sold 19,761 shares of the stock in a transaction that occurred on Wednesday, May 17th. The stock was sold at an average price of $55.45, for a total value of $1,095,747.45. Following the completion of the transaction, the insider now directly owns 55,509 shares of the company’s stock, valued at approximately $3,077,974.05. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Brian G. Kelly sold 111,239 shares of the stock in a transaction that occurred on Monday, August 7th. The stock was sold at an average price of $62.44, for a total value 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 $11,850,550.04. The disclosure for this sale can be found here. Over the last three months, insiders sold 3,914,879 shares of company stock valued at $242,371,204. 2.12% of the stock is currently owned by insiders.
Several institutional investors have recently modified their holdings of ATVI. Raymond James Trust N.A. bought a new position in shares of Activision Blizzard during the first quarter worth about $235,000. Gulf International Bank UK Ltd boosted its position in shares of Activision Blizzard by 1.4% in the first quarter. Gulf International Bank UK Ltd now owns 183,044 shares of the company’s stock worth $9,126,000 after buying an additional 2,600 shares during the last quarter. National Pension Service boosted its position in shares of Activision Blizzard by 10.2% in the first quarter. National Pension Service now owns 507,197 shares of the company’s stock worth $25,456,000 after buying an additional 46,874 shares during the last quarter. Bank of Montreal Can boosted 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 worth $10,456,000 after buying an additional 11,109 shares during the last quarter. Finally, Regentatlantic Capital LLC boosted its position in shares of Activision Blizzard by 11.0% in the first quarter. Regentatlantic Capital LLC now owns 8,068 shares of the company’s stock worth $402,000 after buying an additional 800 shares during the last quarter. 87.37% of the stock is owned by institutional investors and hedge funds.
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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