MKM Partners reaffirmed their buy rating on shares of Activision Blizzard, Inc (NASDAQ:ATVI) in a research report released on Wednesday, July 26th. MKM Partners currently has a $63.00 price objective on the stock, up from their previous price objective of $60.00.
ATVI has been the subject of a number of other reports. Vetr cut Activision Blizzard from a hold rating to a sell rating and set a $48.23 price objective for the company. in a research report on Tuesday, March 28th. Robert W. Baird restated an outperform rating and issued a $47.00 price objective on shares of Activision Blizzard in a research report on Sunday, April 2nd. Jefferies Group LLC reiterated a buy rating and set a $55.00 price target on shares of Activision Blizzard in a research report on Tuesday, April 18th. Pacific Crest reiterated an overweight rating and set a $60.00 price target on shares of Activision Blizzard in a research report on Wednesday, April 26th. Finally, Benchmark Co. reiterated a buy rating and set a $57.88 price target (up from $53.96) on shares of Activision Blizzard in a research report on Monday, May 1st. One research analyst has rated the stock with a sell rating, two have given a hold rating, twenty-three have given a buy rating and one has assigned a strong buy rating to the stock. The company presently has a consensus rating of Buy and a consensus price target of $62.36.
Activision Blizzard (ATVI) traded up 0.88% during mid-day trading on Wednesday, reaching $60.74. 5,571,259 shares of the company were exchanged. Activision Blizzard has a one year low of $35.12 and a one year high of $64.06. The stock has a 50-day moving average price of $60.30 and a 200 day moving average price of $53.02. The company has a market capitalization of $45.85 billion, a PE ratio of 41.04 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 firm’s stock in a transaction that occurred on Wednesday, May 17th. The stock was sold at an average price of $55.45, for a total value of $1,095,747.45. Following the completion of the sale, the insider now directly owns 55,509 shares of the company’s stock, valued at approximately $3,077,974.05. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Brian G. Kelly sold 3,685,000 shares of Activision Blizzard stock in a transaction on Wednesday, August 9th. The stock was sold at an average price of $61.93, for a total value of $228,212,050.00. Following the transaction, the director now directly owns 189,791 shares of the company’s stock, valued at $11,753,756.63. The disclosure for this sale can be found here. Insiders sold a total of 3,914,879 shares of company stock valued at $242,371,204 over the last three months. Insiders own 2.12% of the company’s stock.
A number of institutional investors have recently added to or reduced their stakes in ATVI. Harwood Advisory Group LLC increased its position in Activision Blizzard by 0.7% in the second quarter. Harwood Advisory Group LLC now owns 5,288 shares of the company’s stock valued at $304,000 after buying an additional 36 shares during the last quarter. Guardian Life Insurance Co. of America increased its stake in shares of Activision Blizzard by 1.9% in the first quarter. Guardian Life Insurance Co. of America now owns 2,671 shares of the company’s stock worth $133,000 after buying an additional 51 shares in the last quarter. D.A. Davidson & CO. increased its stake in shares of Activision Blizzard by 0.7% in the second quarter. D.A. Davidson & CO. now owns 8,926 shares of the company’s stock worth $513,000 after buying an additional 58 shares in the last quarter. TIAA CREF Trust Co. FSB MO boosted its position in shares of Activision Blizzard by 0.7% in the first quarter. TIAA CREF Trust Co. FSB MO now owns 12,157 shares of the company’s stock worth $606,000 after buying an additional 90 shares during the last quarter. Finally, Bbva Compass Bancshares Inc. boosted its position in shares of Activision Blizzard by 0.3% in the first quarter. Bbva Compass Bancshares Inc. now owns 51,579 shares of the company’s stock worth $2,572,000 after buying an additional 131 shares during the last quarter. 87.37% of the stock is owned by institutional investors.
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.
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