Activision Blizzard Inc. (NASDAQ:ATVI) was upgraded by analysts at Vetr from a “hold” rating to a “buy” rating in a research report issued on Monday. The firm presently has a $46.28 price objective on the stock. Vetr‘s target price would indicate a potential upside of 4.87% from the company’s previous close.
Other analysts have also issued reports about the stock. Pacific Crest restated a “buy” rating on shares of Activision Blizzard in a report on Sunday, June 26th. Barclays PLC restated a “buy” rating on shares of Activision Blizzard in a report on Saturday, June 18th. Stifel Nicolaus restated a “buy” rating and issued a $35.00 price objective on shares of Activision Blizzard in a report on Tuesday, July 12th. Jefferies Group restated a “buy” rating on shares of Activision Blizzard in a report on Monday, July 11th. Finally, Piper Jaffray Cos. restated a “buy” rating on shares of Activision Blizzard in a report on Friday, June 10th. Three research analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average target price of $44.79.
Shares of Activision Blizzard (NASDAQ:ATVI) opened at 44.13 on Monday. The stock has a market capitalization of $32.72 billion, a price-to-earnings ratio of 44.44 and a beta of 1.09. Activision Blizzard has a 52-week low of $26.49 and a 52-week high of $45.12. The firm’s 50 day moving average is $42.71 and its 200 day moving average is $39.00.
Activision Blizzard (NASDAQ:ATVI) last issued its quarterly earnings data on Thursday, August 4th. The company reported $0.45 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.42 by $0.03. The firm had revenue of $1.57 billion for the quarter, compared to analyst estimates of $1.44 billion. Activision Blizzard had a net margin of 13.95% and a return on equity of 14.49%. Activision Blizzard’s revenue was up 112.0% on a year-over-year basis. During the same period in the previous year, the firm earned $0.13 EPS. Equities analysts expect that Activision Blizzard will post $1.99 earnings per share for the current year.
In other news, insider Christopher B. Walther sold 45,574 shares of the company’s stock in a transaction that occurred on Friday, September 2nd. The stock was sold at an average price of $42.73, for a total transaction of $1,947,377.02. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Riccardo Zacconi sold 19,761 shares of the company’s stock in a transaction that occurred on Monday, August 8th. The stock was sold at an average price of $40.65, for a total value of $803,284.65. Following the sale, the chief executive officer now owns 97,177 shares of the company’s stock, valued at approximately $3,950,245.05. The disclosure for this sale can be found here. 25.23% of the stock is owned by company insiders.
Large investors have recently added to or reduced their stakes in the company. Bessemer Group Inc. boosted its stake in Activision Blizzard by 103.0% in the second quarter. Bessemer Group Inc. now owns 5,062 shares of the company’s stock valued at $201,000 after buying an additional 2,568 shares during the period. Los Angeles Capital Management & Equity Research Inc. acquired a new position in Activision Blizzard during the second quarter valued at about $210,000. FDO Partners LLC acquired a new position in Activision Blizzard during the first quarter valued at about $216,000. Buckingham Asset Management LLC acquired a new position in Activision Blizzard during the second quarter valued at about $216,000. Finally, Palladium Partners LLC acquired a new position in Activision Blizzard during the second quarter valued at about $220,000. Institutional investors and hedge funds own 83.67% of the company’s stock.
Activision Blizzard Company Profile
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.
To view Vetr’s full report, visit Vetr’s official website.
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