Activision Blizzard, Inc. (NASDAQ:ATVI) issued an update on its FY17 earnings guidance on Thursday morning. The company provided earnings per share (EPS) guidance of $1.22 for the period, compared to the Thomson Reuters consensus estimate of $1.15. Activision Blizzard also updated its Q4 guidance to $0.10 EPS.
ATVI has been the topic of a number of research analyst reports. UBS AG reiterated a buy rating and issued a $72.00 target price (up previously from $67.00) on shares of Activision Blizzard in a report on Monday, July 31st. MKM Partners reiterated a buy rating and issued a $63.00 target price (up previously from $60.00) on shares of Activision Blizzard in a report on Wednesday, July 26th. Zacks Investment Research upgraded Activision Blizzard from a hold rating to a buy rating and set a $64.00 target price on the stock in a report on Wednesday, July 5th. Needham & Company LLC initiated coverage on Activision Blizzard in a report on Monday, July 17th. They issued a buy rating and a $75.00 target price on the stock. Finally, Jefferies Group LLC reiterated a buy rating and issued a $68.00 target price on shares of Activision Blizzard in a report on Thursday, July 13th. Two research analysts have rated the stock with a sell rating, four have issued a hold rating, twenty-three have issued a buy rating and one has assigned a strong buy rating to the stock. Activision Blizzard currently has a consensus rating of Buy and a consensus price target of $67.91.
In related news, Director Brian G. Kelly sold 111,239 shares of the business’s stock in a transaction dated 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 sale, the director now directly owns 189,791 shares of the company’s stock, valued at $11,850,550.04. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Riccardo Zacconi sold 19,761 shares of the business’s stock in a transaction dated Friday, August 18th. The shares were sold at an average price of $61.32, for a total value of $1,211,744.52. Following the completion of the sale, the chief executive officer now directly owns 48,472 shares of the company’s stock, valued at $2,972,303.04. The disclosure for this sale can be found here. Over the last three months, insiders sold 4,074,879 shares of company stock valued at $252,196,001. 2.12% of the stock is owned by corporate insiders.
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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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