Activision Blizzard Inc. (NASDAQ:ATVI) was upgraded by analysts at Vetr from a “hold” rating to a “buy” rating in a note issued to investors on Thursday. The brokerage presently has a $42.00 price target on the stock. Vetr‘s price target points to a potential upside of 4.30% from the stock’s previous close.
A number of institutional investors have recently bought and sold shares of the stock. Standard Life Investments LTD boosted its position in Activision Blizzard by 2.8% in the second quarter. Standard Life Investments LTD now owns 6,733,500 shares of the company’s stock valued at $266,950,000 after buying an additional 186,318 shares in the last quarter. Tokio Marine Asset Management Co. Ltd. boosted its position in Activision Blizzard by 5.8% in the second quarter. Tokio Marine Asset Management Co. Ltd. now owns 19,173 shares of the company’s stock valued at $760,000 after buying an additional 1,050 shares in the last quarter. Calamos Advisors LLC purchased a new position in Activision Blizzard during the second quarter valued at about $45,970,000. Calamos Wealth Management LLC purchased a new position in Activision Blizzard during the second quarter valued at about $1,467,000. Finally, Candriam Luxembourg S.C.A. boosted its position in Activision Blizzard by 51.4% in the second quarter. Candriam Luxembourg S.C.A. now owns 17,526 shares of the company’s stock valued at $695,000 after buying an additional 5,953 shares in the last quarter.
Shares of Activision Blizzard (NASDAQ:ATVI) traded down 1.52% during trading on Thursday, hitting $40.27. 11,111,987 shares of the stock traded hands. The firm’s 50-day moving average price is $39.89 and its 200-day moving average price is $35.64. Activision Blizzard has a 52 week low of $24.04 and a 52 week high of $43.05. The company has a market cap of $29.73 billion and a price-to-earnings ratio of 36.15.
ATVI has been the subject of a number of other research reports. Zacks Investment Research cut Activision Blizzard from a “buy” rating to a “hold” rating in a research report on Tuesday, May 10th. Stifel Nicolaus upped their price target on Activision Blizzard from $40.00 to $45.00 and gave the stock a “buy” rating in a report on Monday, May 9th. MKM Partners upped their price target on Activision Blizzard from $38.00 to $40.00 and gave the stock a “buy” rating in a report on Monday, May 9th. Jefferies Group reiterated a “buy” rating and set a $45.00 price target (up from $37.00) on shares of Activision Blizzard in a report on Friday, May 6th. Finally, Barclays PLC upped their price target on Activision Blizzard from $35.00 to $38.00 and gave the stock an “overweight” rating in a report on Friday, May 6th. Four equities research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the stock. The stock has an average rating of “Buy” and an average price target of $40.53.
In related news, COO Thomas Tippl sold 300,000 shares of the firm’s stock in a transaction dated Monday, May 16th. The stock was sold at an average price of $39.08, for a total value of $11,724,000.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Michael Morhaime sold 1,150,000 shares of the firm’s stock in a transaction dated Tuesday, June 14th. The shares were sold at an average price of $38.15, for a total value of $43,872,500.00. Following the completion of the transaction, the chief executive officer now owns 370,065 shares in the company, valued at approximately $14,117,979.75. The disclosure for this sale can be found here.
Activision Blizzard, Inc is a developer and publisher of online, personal computer (PC), video game console, handheld, mobile and tablet games. The Company operates through Activision Publishing, Inc (Activision) and its subsidiaries, Blizzard Entertainment, Inc (Blizzard) and its subsidiaries, and Other segments.
