Rhumbline Advisers boosted its stake in Activision Blizzard, Inc (NASDAQ:ATVI) by 13.1% during the second quarter, Holdings Channel reports. The firm owned 1,126,077 shares of the company’s stock after buying an additional 130,047 shares during the period. Rhumbline Advisers’ holdings in Activision Blizzard were worth $64,828,000 as of its most recent SEC filing.
Several other hedge funds have also recently modified their holdings of the company. BlackRock Inc. boosted its stake in shares of Activision Blizzard by 3,032.9% in the first quarter. BlackRock Inc. now owns 48,912,065 shares of the company’s stock valued at $2,438,753,000 after buying an additional 47,350,818 shares during the period. Jennison Associates LLC raised its stake in Activision Blizzard by 110,271.4% in the first quarter. Jennison Associates LLC now owns 12,179,488 shares of the company’s stock valued at $607,269,000 after buying an additional 12,168,453 shares during the last quarter. Egerton Capital UK LLP raised its stake 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 valued at $609,240,000 after buying an additional 8,467,902 shares during the last quarter. Caxton Associates LP bought a new stake in Activision Blizzard during the first quarter valued at $149,610,000. Finally, Iridian Asset Management LLC CT bought a new stake in Activision Blizzard during the first quarter valued at $148,547,000. 87.37% of the stock is currently owned by institutional investors and hedge funds.
Shares of Activision Blizzard, Inc (ATVI) opened at 60.21 on Friday. The company’s 50-day moving average price is $60.31 and its 200-day moving average price is $52.86. Activision Blizzard, Inc has a 12 month low of $35.12 and a 12 month high of $64.06. The company has a market cap of $45.45 billion, a P/E ratio of 40.65 and a beta of 1.07.
Several research firms recently weighed in on ATVI. Piper Jaffray Companies restated an “overweight” rating and set a $69.00 price target on shares of Activision Blizzard in a report on Friday, August 4th. Wedbush increased their price target on Activision Blizzard to $3.00 and gave the company an “outperform” rating in a report on Friday, August 4th. Benchmark Co. increased their price target on Activision Blizzard from $71.00 to $74.00 and gave the company a “buy” rating in a report on Friday, August 4th. Bank of America Corporation upgraded Activision Blizzard from a “neutral” rating to a “buy” rating and increased their price target for the company from $65.00 to $76.00 in a report on Friday, August 4th. Finally, UBS AG increased their price target on Activision Blizzard from $67.00 to $72.00 and gave the company a “buy” rating in a report on Sunday, August 6th. One research analyst has rated the stock with a sell rating, two have given a hold rating, twenty-three have assigned a buy rating and one has given a strong buy rating to the company’s stock. Activision Blizzard presently has an average rating of “Buy” and a consensus target price of $62.36.
In other Activision Blizzard news, Director Brian G. Kelly sold 3,685,000 shares of the firm’s stock in a transaction dated Wednesday, August 9th. The stock was sold at an average price of $61.93, for a total value of $228,212,050.00. Following the transaction, the director now directly owns 189,791 shares of the company’s stock, valued at $11,753,756.63. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO of King Digital Riccardo Zacconi sold 19,761 shares of the firm’s stock in a transaction dated Wednesday, May 17th. The shares were 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 in the company, valued at $3,077,974.05. The disclosure for this sale can be found here. Insiders sold 3,914,879 shares of company stock worth $242,371,204 over the last three months. 2.12% of the stock is currently owned by corporate insiders.
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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