Sterling Capital Management LLC trimmed its position in shares of Activision Blizzard, Inc (NASDAQ:ATVI) by 22.3% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,166,797 shares of the company’s stock after selling 334,098 shares during the quarter. Sterling Capital Management LLC owned 0.15% of Activision Blizzard worth $67,173,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds and other institutional investors have also recently bought and sold shares of ATVI. Los Angeles Capital Management & Equity Research Inc. purchased a new position in Activision Blizzard during the first quarter worth $245,000. Stratos Wealth Partners LTD. purchased a new position in Activision Blizzard during the first quarter worth $202,000. IPG Investment Advisors LLC purchased a new position in Activision Blizzard during the first quarter worth $228,000. Teachers Advisors LLC boosted its stake in Activision Blizzard by 41.9% during the first quarter. Teachers Advisors LLC now owns 1,632,248 shares of the company’s stock worth $81,384,000 after buying an additional 482,049 shares during the period. Finally, TIAA CREF Investment Management LLC boosted its stake in Activision Blizzard by 20.8% during the first quarter. TIAA CREF Investment Management LLC now owns 4,299,324 shares of the company’s stock worth $214,364,000 after buying an additional 738,911 shares during the period. 86.27% of the stock is owned by institutional investors.
Shares of Activision Blizzard, Inc (ATVI) traded down 1.30% during trading on Wednesday, reaching $60.65. 2,791,380 shares of the company’s stock were exchanged. The company has a market capitalization of $45.79 billion, a P/E ratio of 40.98 and a beta of 1.10. Activision Blizzard, Inc has a 12-month low of $35.12 and a 12-month high of $66.58. The stock has a 50-day moving average price of $63.99 and a 200 day moving average price of $58.68.
In other news, CEO Riccardo Zacconi sold 19,761 shares of Activision Blizzard stock in a transaction dated Friday, August 18th. The stock was sold at an average price of $61.32, for a total value of $1,211,744.52. Following the completion of the transaction, the chief executive officer now owns 48,472 shares in the company, valued at approximately $2,972,303.04. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Brian G. Kelly sold 111,239 shares of Activision Blizzard stock in a transaction dated Monday, August 7th. The shares were 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 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 quarter. Company insiders own 2.12% of the company’s stock.
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Several research analysts have commented on the stock. Goldman Sachs Group, Inc. (The) assumed coverage on shares of Activision Blizzard in a research note on Friday, September 8th. They set a “neutral” rating and a $65.00 price objective for the company. KeyCorp reissued a “buy” rating and set a $74.00 target price on shares of Activision Blizzard in a research note on Friday, September 8th. Vetr lowered 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. Robert W. Baird reissued an “outperform” rating and set a $68.00 target price on shares of Activision Blizzard in a research note on Wednesday, September 20th. Finally, Piper Jaffray Companies reissued an “overweight” rating and set a $69.00 target price on shares of Activision Blizzard in a research note on Friday, September 8th. One analyst has rated the stock with a sell rating, five have issued a hold rating and twenty-four have given a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average price target of $65.33.
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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