Activision Blizzard, Inc (ATVI) Given a $72.00 Price Target by SunTrust Banks, Inc. Analysts

Activision Blizzard, Inc (NASDAQ:ATVI) received a $72.00 price objective from investment analysts at SunTrust Banks, Inc. in a report released on Sunday. The firm currently has a “buy” rating on the stock. SunTrust Banks, Inc.’s target price would suggest a potential upside of 10.26% from the company’s previous close.

Other equities analysts have also issued research reports about the company. MKM Partners reissued a “buy” rating and issued a $63.00 target price (up previously from $60.00) on shares of Activision Blizzard in a research note on Wednesday, July 26th. Zacks Investment Research raised Activision Blizzard from a “hold” rating to a “buy” rating and set a $64.00 target price on the stock in a research note on Wednesday, July 5th. Needham & Company LLC initiated coverage on Activision Blizzard in a research note on Monday, July 17th. They issued a “buy” rating and a $75.00 target price on the stock. Jefferies Group LLC reissued a “buy” rating and issued a $68.00 target price on shares of Activision Blizzard in a research note on Thursday, July 13th. Finally, Vetr lowered Activision Blizzard from a “strong-buy” rating to a “buy” rating and set a $67.48 target price on the stock. in a research note on Wednesday, July 12th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating, twenty-three have assigned a buy rating and one has assigned a strong buy rating to the company. The stock presently has an average rating of “Buy” and a consensus target price of $67.91.

Activision Blizzard (NASDAQ ATVI) opened at 65.30 on Friday. The company has a 50-day moving average price of $63.17 and a 200-day moving average price of $59.98. Activision Blizzard has a 52 week low of $35.12 and a 52 week high of $66.58. The stock has a market cap of $49.30 billion, a PE ratio of 44.09 and a beta of 1.10.

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In related news, insider Dennis M. Durkin sold 160,000 shares of the stock in a transaction that occurred on Friday, August 11th. The stock was sold at an average price of $60.68, for a total transaction of $9,708,800.00. Following the completion of the transaction, the insider now directly owns 337,534 shares of the company’s stock, valued at $20,481,563.12. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Brian G. Kelly sold 111,239 shares of the firm’s stock in a transaction that occurred on 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 sale, 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. Insiders have sold 4,074,879 shares of company stock valued at $252,196,001 over the last three months. Insiders own 2.12% of the company’s stock.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Harwood Advisory Group LLC lifted its position in shares of Activision Blizzard by 0.7% in the second quarter. Harwood Advisory Group LLC now owns 5,288 shares of the company’s stock valued at $304,000 after buying an additional 36 shares during the last quarter. Macquarie Group Ltd. lifted its position in shares of Activision Blizzard by 0.4% in the second quarter. Macquarie Group Ltd. now owns 12,345 shares of the company’s stock valued at $711,000 after buying an additional 45 shares during the last quarter. D.A. Davidson & CO. lifted its position in shares of Activision Blizzard by 0.7% in the second quarter. D.A. Davidson & CO. now owns 8,926 shares of the company’s stock valued at $513,000 after buying an additional 58 shares during the last quarter. Accuvest Global Advisors lifted its position in shares of Activision Blizzard by 2.0% in the second quarter. Accuvest Global Advisors now owns 9,758 shares of the company’s stock valued at $562,000 after buying an additional 194 shares during the last quarter. Finally, Commerce Bank lifted its position in shares of Activision Blizzard by 1.7% in the second quarter. Commerce Bank now owns 11,883 shares of the company’s stock valued at $684,000 after buying an additional 199 shares during the last quarter. 86.27% of the stock is owned by institutional investors.

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.

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