Activision Blizzard, Inc (ATVI) Stake Cut by NJ State Employees Deferred Compensation Plan

NJ State Employees Deferred Compensation Plan cut its stake in shares of Activision Blizzard, Inc (NASDAQ:ATVI) by 27.5% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 58,000 shares of the company’s stock after selling 22,000 shares during the period. Activision Blizzard comprises about 0.6% of NJ State Employees Deferred Compensation Plan’s investment portfolio, making the stock its 27th largest position. NJ State Employees Deferred Compensation Plan’s holdings in Activision Blizzard were worth $3,339,000 as of its most recent filing with the SEC.

Other institutional investors have also recently bought and sold shares of the company. Chevy Chase Trust Holdings Inc. increased its stake in Activision Blizzard by 4.3% in the first quarter. Chevy Chase Trust Holdings Inc. now owns 598,486 shares of the company’s stock worth $29,841,000 after buying an additional 24,840 shares during the period. Rathbone Brothers plc increased its stake in Activision Blizzard by 1.8% in the first quarter. Rathbone Brothers plc now owns 797,367 shares of the company’s stock worth $39,757,000 after buying an additional 14,280 shares during the period. Raymond James Trust N.A. bought a new stake in Activision Blizzard during the first quarter worth about $235,000. Waverton Investment Management Ltd increased its stake in Activision Blizzard by 16.9% in the first quarter. Waverton Investment Management Ltd now owns 360,044 shares of the company’s stock worth $17,952,000 after buying an additional 52,010 shares during the period. Finally, Gulf International Bank UK Ltd increased its stake in Activision Blizzard by 1.4% in the first quarter. Gulf International Bank UK Ltd now owns 183,044 shares of the company’s stock worth $9,126,000 after buying an additional 2,600 shares during the period. Institutional investors own 87.39% of the company’s stock.

Shares of Activision Blizzard, Inc (NASDAQ:ATVI) traded up 1.89% during mid-day trading on Monday, reaching $61.89. 5,129,028 shares of the company were exchanged. Activision Blizzard, Inc has a 12 month low of $35.12 and a 12 month high of $64.06. The firm has a market capitalization of $46.72 billion, a price-to-earnings ratio of 41.79 and a beta of 1.07. The company’s 50-day moving average is $60.30 and its 200 day moving average is $53.02.

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ATVI has been the topic of a number of research analyst reports. MKM Partners reissued a “neutral” rating and issued a $48.00 price target (up from $44.00) on shares of Activision Blizzard in a research note on Tuesday, May 2nd. Vetr raised shares of Activision Blizzard from a “hold” rating to a “buy” rating and set a $64.63 price target on the stock in a research note on Thursday, June 8th. Oppenheimer Holdings, Inc. reissued an “outperform” rating and issued a $60.00 price target (up from $53.00) on shares of Activision Blizzard in a research note on Friday, May 5th. Pacific Crest reissued an “overweight” rating and issued a $60.00 price target on shares of Activision Blizzard in a research note on Wednesday, April 26th. Finally, Stifel Nicolaus reaffirmed a “buy” rating and set a $59.00 target price (up from $53.00) on shares of Activision Blizzard in a research note on Tuesday, May 2nd. One analyst has rated the stock with a sell rating, two have given a hold rating, twenty-three have assigned a buy rating and one has given a strong buy rating to the company. Activision Blizzard currently has an average rating of “Buy” and a consensus price target of $62.36.

In other news, CEO of King Digital Riccardo Zacconi sold 19,761 shares of the business’s stock in a transaction 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 completion of the transaction, the insider now owns 55,509 shares of the company’s stock, valued at $3,077,974.05. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Brian G. Kelly sold 111,239 shares of the business’s stock in a transaction on Monday, August 7th. The shares were sold at an average price of $62.44, for a total transaction of $6,945,763.16. Following the transaction, the director now directly owns 189,791 shares of the company’s stock, valued at approximately $11,850,550.04. The disclosure for this sale can be found here. In the last three months, insiders have sold 3,914,879 shares of company stock valued at $242,371,204. Corporate insiders own 2.12% 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.