Activision Blizzard, Inc (NASDAQ:ATVI) had its price target upped by Robert W. Baird from $68.00 to $75.00 in a research note issued to investors on Friday. Robert W. Baird currently has an outperform rating on the stock.
Several other equities research analysts have also recently issued reports on ATVI. Zacks Investment Research cut Activision Blizzard from a buy rating to a hold rating in a research note on Friday, July 7th. Vetr cut Activision Blizzard from a strong-buy rating to a buy rating and set a $67.48 target price for the company. in a research note on Wednesday, July 12th. Jefferies Group LLC reissued a buy rating and set a $68.00 target price on shares of Activision Blizzard in a research note on Thursday, July 13th. Needham & Company LLC started coverage on Activision Blizzard in a research note on Monday, July 17th. They set a buy rating and a $75.00 target price for the company. Finally, Piper Jaffray Companies reissued an overweight rating and set a $65.00 target price on shares of Activision Blizzard in a research note on Tuesday, July 18th. Two analysts have rated the stock with a sell rating, four have issued a hold rating, twenty-three have given a buy rating and one has assigned a strong buy rating to the stock. Activision Blizzard has a consensus rating of Buy and a consensus target price of $68.59.
Activision Blizzard (NASDAQ ATVI) traded down $2.25 during mid-day trading on Friday, reaching $63.20. The company’s stock had a trading volume of 18,650,840 shares, compared to its average volume of 5,450,518. The company has a debt-to-equity ratio of 0.45, a quick ratio of 2.44 and a current ratio of 2.47. The firm has a market capitalization of $47,785.52, a PE ratio of 28.73, a price-to-earnings-growth ratio of 2.33 and a beta of 1.07. Activision Blizzard has a one year low of $35.12 and a one year high of $67.03.
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In other 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 approximately $11,850,550.04. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 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. Insiders have sold a total of 4,074,879 shares of company stock valued at $252,196,001 over the last ninety days. 2.12% of the stock is owned by company insiders.
Several institutional investors have recently bought and sold shares of ATVI. Oppenheimer Asset Management Inc. purchased a new stake in shares of Activision Blizzard in the 1st quarter valued at about $311,000. TrueNorth Inc. lifted its holdings in shares of Activision Blizzard by 271.4% in the 1st quarter. TrueNorth Inc. now owns 33,091 shares of the company’s stock valued at $1,650,000 after purchasing an additional 24,180 shares during the last quarter. Cpcm LLC purchased a new stake in shares of Activision Blizzard in the 1st quarter valued at about $216,000. Nomura Asset Management Co. Ltd. lifted its holdings in shares of Activision Blizzard by 0.6% in the 1st quarter. Nomura Asset Management Co. Ltd. now owns 78,789 shares of the company’s stock valued at $3,929,000 after purchasing an additional 505 shares during the last quarter. Finally, DnB Asset Management AS lifted its holdings in shares of Activision Blizzard by 10.6% in the 2nd quarter. DnB Asset Management AS now owns 80,653 shares of the company’s stock valued at $4,643,000 after purchasing an additional 7,700 shares during the last quarter. 86.27% of the stock is owned by institutional investors and hedge funds.
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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