Activision Blizzard, Inc (ATVI) Cut to “Sell” at Vetr Inc.

Vetr cut shares of Activision Blizzard, Inc (NASDAQ:ATVI) from a hold rating to a sell rating in a research note issued to investors on Monday morning. The brokerage currently has $59.97 target price on the stock.

A number of other equities research analysts have also commented on ATVI. Cowen and Company reiterated an outperform rating and issued a $66.00 price target (up previously from $59.00) on shares of Activision Blizzard in a research report on Wednesday, August 9th. Robert W. Baird reiterated an outperform rating and issued a $68.00 price target (up previously from $60.00) on shares of Activision Blizzard in a research report on Thursday, August 10th. Zacks Investment Research upgraded Activision Blizzard from a hold rating to a strong-buy rating and set a $71.00 price target on the stock in a research report on Wednesday, August 9th. Jefferies Group LLC reiterated a buy rating and issued a $78.00 price target (up previously from $68.00) on shares of Activision Blizzard in a research report on Wednesday, August 9th. Finally, UBS AG upped their price target on Activision Blizzard from $67.00 to $72.00 and gave the company a buy rating in a research report on Sunday, August 6th. Two investment analysts have rated the stock with a sell rating, four have given a hold rating, twenty-three have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Activision Blizzard currently has a consensus rating of Buy and an average target price of $67.91.

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In other news, Director Brian G. Kelly sold 3,685,000 shares of the company’s stock in a transaction that occurred on 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 completion of 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 SEC, which is accessible through this hyperlink. Also, CEO Riccardo Zacconi sold 19,761 shares of the company’s stock in a transaction that occurred on 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 transaction, 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. Company insiders own 2.12% of the company’s stock.

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

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.

To view Vetr’s full report, visit Vetr’s official website.

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