Stifel Nicolaus reissued their buy rating on shares of Activision Blizzard, Inc (NASDAQ:ATVI) in a research report report published on Monday. The firm currently has a $71.00 target price on the stock.
Other analysts have also issued reports about the company. Piper Jaffray Companies restated an overweight rating and issued a $65.00 target price on shares of Activision Blizzard in a research note on Tuesday, July 18th. Argus restated a buy rating and issued a $70.00 target price (up from $65.00) on shares of Activision Blizzard in a research note on Wednesday, August 16th. Vetr lowered 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. Oppenheimer Holdings, Inc. raised their target price on Activision Blizzard from $60.00 to $70.00 and gave the company an outperform rating in a research note on Thursday, June 22nd. Finally, BidaskClub lowered Activision Blizzard from a buy rating to a hold rating in a research note on Tuesday, July 25th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and twenty-four have issued a buy rating to the company’s stock. The company presently has a consensus rating of Buy and an average target price of $65.33.
Activision Blizzard (NASDAQ:ATVI) opened at 61.79 on Monday. The company has a 50-day moving average of $63.85 and a 200-day moving average of $58.72. The company has a market cap of $46.65 billion, a price-to-earnings ratio of 41.72 and a beta of 1.10. Activision Blizzard has a 12 month low of $35.12 and a 12 month high of $66.58.
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In other news, insider Dennis M. Durkin sold 160,000 shares of Activision Blizzard 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 transaction, the insider now owns 337,534 shares in the company, valued at approximately $20,481,563.12. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Riccardo Zacconi sold 19,761 shares of Activision Blizzard 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 transaction, the chief executive officer now owns 48,472 shares in the company, valued at approximately $2,972,303.04. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 4,074,879 shares of company stock worth $252,196,001. Company insiders own 2.12% of the company’s stock.
Large investors have recently added to or reduced their stakes in the company. Allen Investment Management LLC bought a new position in shares of Activision Blizzard during the 2nd quarter valued at about $2,095,000. DnB Asset Management AS lifted its holdings 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 purchasing an additional 7,700 shares in the last quarter. Pacad Investment Ltd. lifted its holdings 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 purchasing an additional 67,742 shares in the last quarter. Norinchukin Bank The lifted 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 about $508,000. Institutional investors and hedge funds own 86.27% of the company’s stock.
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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