State Board of Administration of Florida Retirement System lifted its position in shares of Activision Blizzard, Inc (NASDAQ:ATVI) by 3.5% during the 3rd quarter, according to its most recent disclosure with the SEC. The firm owned 1,005,178 shares of the company’s stock after buying an additional 34,070 shares during the period. State Board of Administration of Florida Retirement System owned 0.13% of Activision Blizzard worth $64,844,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also recently made changes to their positions in the company. Cornerstone Advisors Inc. lifted its stake in shares of Activision Blizzard by 321.5% during the third quarter. Cornerstone Advisors Inc. now owns 1,547 shares of the company’s stock valued at $100,000 after buying an additional 1,180 shares during the period. Shine Investment Advisory Services Inc. acquired a new position in Activision Blizzard during the second quarter worth approximately $142,000. Huntington National Bank increased its position in Activision Blizzard by 122.6% during the second quarter. Huntington National Bank now owns 2,480 shares of the company’s stock worth $143,000 after purchasing an additional 1,366 shares during the last quarter. Bronfman E.L. Rothschild L.P. increased its position in Activision Blizzard by 16.2% during the second quarter. Bronfman E.L. Rothschild L.P. now owns 2,606 shares of the company’s stock worth $150,000 after purchasing an additional 363 shares during the last quarter. Finally, Phocas Financial Corp. acquired a new position in Activision Blizzard during the second quarter worth approximately $173,000. 86.27% of the stock is currently owned by institutional investors and hedge funds.
In related news, Director Brian G. Kelly sold 3,685,000 shares of the stock in a transaction dated Wednesday, August 9th. The shares were sold at an average price of $61.93, for a total value of $228,212,050.00. Following the sale, the director now owns 189,791 shares of the company’s stock, valued at approximately $11,753,756.63. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Dennis M. Durkin sold 160,000 shares of the stock in a transaction dated 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 sale, the insider now directly owns 337,534 shares in the company, valued at approximately $20,481,563.12. The disclosure for this sale can be found here. In the last ninety days, insiders sold 4,074,879 shares of company stock worth $252,196,001. Corporate insiders own 2.12% of the company’s stock.
Several brokerages recently commented on ATVI. Goldman Sachs Group, Inc. (The) began coverage on shares of Activision Blizzard in a research report on Friday, September 8th. They set a “neutral” rating and a $65.00 price target for the company. KeyCorp reaffirmed a “buy” rating and set a $74.00 price target on shares of Activision Blizzard in a research report on Friday, September 8th. Vetr lowered shares of Activision Blizzard from a “hold” rating to a “sell” rating and set a $61.90 price target for the company. in a research report on Thursday, August 31st. BMO Capital Markets reaffirmed a “hold” rating and set a $62.00 price target on shares of Activision Blizzard in a research report on Thursday. Finally, Robert W. Baird reaffirmed an “outperform” rating and set a $68.00 price target on shares of Activision Blizzard in a research report on Wednesday, September 20th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating, twenty-three have issued a buy rating and one has given a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus price target of $68.49.
Activision Blizzard, Inc (NASDAQ ATVI) traded down $2.95 during mid-day trading on Friday, hitting $62.38. 6,122,960 shares of the company were exchanged, compared to its average volume of 5,450,518. The firm has a market capitalization of $49,486.71, a price-to-earnings ratio of 31.62 and a beta of 1.07.
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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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