Activision Blizzard, Inc (NASDAQ:ATVI) Given “Outperform” Rating at Credit Suisse Group

Activision Blizzard, Inc (NASDAQ:ATVI)‘s stock had its “outperform” rating reaffirmed by equities researchers at Credit Suisse Group in a research report issued on Wednesday. They presently have a $74.00 price target on the stock, up from their prior price target of $67.00. Credit Suisse Group’s price objective suggests a potential upside of 20.66% from the stock’s previous close.

Several other analysts have also recently issued reports on the stock. Vetr upgraded shares of Activision Blizzard from a “hold” rating to a “buy” rating and set a $50.88 target price on the stock in a research report on Monday, April 17th. Stifel Nicolaus restated a “buy” rating and set a $59.00 target price (up from $53.00) on shares of Activision Blizzard in a research report on Tuesday, May 2nd. Zacks Investment Research upgraded shares of Activision Blizzard from a “hold” rating to a “buy” rating and set a $64.00 target price on the stock in a research report on Wednesday, July 5th. Benchmark Co. restated a “buy” rating and set a $57.88 target price (up from $53.96) on shares of Activision Blizzard in a research report on Monday, May 1st. Finally, Morgan Stanley restated an “overweight” rating and set a $67.00 target price on shares of Activision Blizzard in a research report on Saturday, July 22nd. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, twenty-three have issued a buy rating and one has assigned a strong buy rating to the stock. The company has a consensus rating of “Buy” and an average price target of $62.04.

Shares of Activision Blizzard (NASDAQ:ATVI) traded down 0.334% during midday trading on Wednesday, reaching $61.125. The company had a trading volume of 4,489,129 shares. The company has a 50 day moving average of $60.15 and a 200 day moving average of $52.22. Activision Blizzard has a one year low of $35.12 and a one year high of $64.06. The company has a market capitalization of $46.07 billion, a PE ratio of 44.846 and a beta of 1.07.

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In other news, CEO of King Digital Riccardo Zacconi sold 19,761 shares of the stock in a transaction that occurred on Wednesday, May 17th. The shares were sold at an average price of $55.45, for a total transaction of $1,095,747.45. Following the transaction, the insider now directly owns 55,509 shares in the company, valued at $3,077,974.05. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 2.12% of the stock is currently owned by company insiders.

Several institutional investors have recently added to or reduced their stakes in ATVI. Quantitative Systematic Strategies LLC increased its position in Activision Blizzard by 396.5% in the first quarter. Quantitative Systematic Strategies LLC now owns 38,411 shares of the company’s stock worth $1,915,000 after buying an additional 30,674 shares in the last quarter. Nisa Investment Advisors LLC increased its position in Activision Blizzard by 121.0% in the first quarter. Nisa Investment Advisors LLC now owns 40,189 shares of the company’s stock worth $1,997,000 after buying an additional 22,000 shares in the last quarter. Barometer Capital Management Inc. acquired a new position in Activision Blizzard during the first quarter worth about $5,520,000. Patten & Patten Inc. TN acquired a new position in Activision Blizzard during the first quarter worth about $249,000. Finally, Coastline Trust Co increased its position in Activision Blizzard by 22.0% in the first quarter. Coastline Trust Co now owns 14,050 shares of the company’s stock worth $701,000 after buying an additional 2,530 shares in the last quarter. Hedge funds and other institutional investors own 87.37% of the company’s stock.

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.