Activision Blizzard, Inc (NASDAQ:ATVI) had its target price lifted by Morgan Stanley from $70.00 to $72.00 in a research note released on Friday. They currently have an overweight rating on the stock.
Several other equities research analysts have also commented on ATVI. Goldman Sachs Group, Inc. (The) assumed coverage on Activision Blizzard in a research note on Friday, September 8th. They set a neutral rating and a $65.00 price target on the stock. KeyCorp reaffirmed a buy rating and issued a $74.00 target price on shares of Activision Blizzard in a research note on Friday, September 8th. Vetr lowered Activision Blizzard from a hold rating to a sell rating and set a $61.90 target price on the stock. in a research note on Thursday, August 31st. BMO Capital Markets reaffirmed a hold rating and issued a $62.00 target price on shares of Activision Blizzard in a research note on Thursday. Finally, Robert W. Baird reissued an outperform rating and set a $68.00 price target on shares of Activision Blizzard in a research note on Wednesday, September 20th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating, twenty-three have assigned a buy rating and one has assigned a strong buy rating to the stock. The stock presently has a consensus rating of Buy and a consensus target price of $68.71.
Shares of Activision Blizzard (NASDAQ:ATVI) traded down $1.98 during mid-day trading on Friday, reaching $61.23. The company had a trading volume of 7,397,138 shares, compared to its average volume of 5,980,000. The company has a debt-to-equity ratio of 0.44, a current ratio of 2.25 and a quick ratio of 2.22. Activision Blizzard has a 1 year low of $35.12 and a 1 year high of $67.03. The firm has a market cap of $46,510.00, a PE ratio of 28.73, a PEG ratio of 2.33 and a beta of 1.06.
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In related news, CEO Riccardo Zacconi sold 19,761 shares of the firm’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 owns 48,472 shares of the company’s stock, valued at approximately $2,972,303.04. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Brian G. Kelly sold 98,879 shares of the firm’s stock in a transaction that occurred on Tuesday, August 8th. The stock was sold at an average price of $61.87, for a total transaction of $6,117,643.73. Following the completion of the transaction, the director now directly owns 189,791 shares of the company’s stock, valued at approximately $11,742,369.17. The disclosure for this sale can be found here. In the last 90 days, insiders sold 3,963,640 shares of company stock worth $245,250,238. 2.12% of the stock is currently owned by company insiders.
Large investors have recently modified their holdings of the business. Allen Investment Management LLC acquired a new stake in shares of Activision Blizzard during the 2nd quarter valued at $2,095,000. DnB Asset Management AS boosted its stake in shares of Activision Blizzard by 10.6% during the 2nd quarter. DnB Asset Management AS now owns 80,653 shares of the company’s stock valued at $4,643,000 after buying an additional 7,700 shares during the period. Pacad Investment Ltd. boosted its stake in shares of Activision Blizzard by 131.0% during the 2nd quarter. Pacad Investment Ltd. now owns 119,447 shares of the company’s stock valued at $6,877,000 after buying an additional 67,742 shares during the period. Norinchukin Bank The raised its holdings in shares of Activision Blizzard by 7.1% during the 2nd quarter. Norinchukin Bank The now owns 48,118 shares of the company’s stock valued at $2,770,000 after purchasing an additional 3,170 shares in the last quarter. Finally, Brighton Jones LLC bought a new position in shares of Activision Blizzard during the 2nd quarter valued at $508,000. 86.32% 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.
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