Vetr upgraded shares of Activision Blizzard (NASDAQ:ATVI) from a buy rating to a strong-buy rating in a research note published on Tuesday morning. The brokerage currently has $83.48 target price on the stock.
A number of other equities research analysts have also commented on the stock. ValuEngine raised shares of Activision Blizzard from a hold rating to a buy rating in a report on Thursday, March 1st. BidaskClub upgraded shares of Activision Blizzard from a buy rating to a strong-buy rating in a research report on Thursday, March 1st. Argus upped their target price on shares of Activision Blizzard from $70.00 to $81.00 and gave the company a buy rating in a research report on Friday, February 16th. Zacks Investment Research downgraded shares of Activision Blizzard from a buy rating to a hold rating in a research report on Wednesday, February 14th. Finally, TheStreet downgraded shares of Activision Blizzard from a b rating to a c+ rating in a research report on Thursday, February 8th. Six research analysts have rated the stock with a hold rating, twenty-four have given a buy rating and one has assigned a strong buy rating to the company. The stock currently has a consensus rating of Buy and an average price target of $74.52.
Shares of Activision Blizzard (NASDAQ:ATVI) opened at $78.22 on Tuesday. Activision Blizzard has a fifty-two week low of $47.80 and a fifty-two week high of $78.25. The company has a current ratio of 1.78, a quick ratio of 1.77 and a debt-to-equity ratio of 0.46. The company has a market cap of $60,230.00, a PE ratio of 65.73, a price-to-earnings-growth ratio of 2.05 and a beta of 1.10.
In related news, Director Brian G. Kelly sold 1,700,000 shares of the stock in a transaction that occurred on Friday, February 23rd. The shares were sold at an average price of $70.65, for a total value of $120,105,000.00. Following the sale, the director now directly owns 69,474 shares in the company, valued at approximately $4,908,338.10. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Stephen G. Wereb sold 120,521 shares of the stock in a transaction that occurred on Thursday, March 1st. The shares were sold at an average price of $72.38, for a total transaction of $8,723,309.98. Following the completion of the sale, the insider now owns 48,511 shares in the company, valued at $3,511,226.18. The disclosure for this sale can be found here. Insiders sold a total of 2,608,282 shares of company stock worth $184,660,583 over the last quarter. 2.12% of the stock is currently owned by corporate insiders.
Hedge funds have recently made changes to their positions in the business. Oppenheimer & Co. Inc. raised its holdings in Activision Blizzard by 94.4% during the 3rd quarter. Oppenheimer & Co. Inc. now owns 66,349 shares of the company’s stock worth $4,280,000 after buying an additional 32,224 shares during the period. Carmignac Gestion raised its holdings in Activision Blizzard by 0.5% during the 3rd quarter. Carmignac Gestion now owns 5,920,188 shares of the company’s stock worth $381,911,000 after buying an additional 26,761 shares during the period. Pacer Advisors Inc. raised its holdings in Activision Blizzard by 13.7% during the 3rd quarter. Pacer Advisors Inc. now owns 28,080 shares of the company’s stock worth $1,811,000 after buying an additional 3,391 shares during the period. QUANTRES ASSET MANAGEMENT Ltd acquired a new stake in Activision Blizzard during the 4th quarter worth approximately $1,171,000. Finally, Fox Run Management L.L.C. acquired a new stake in Activision Blizzard during the 4th quarter worth approximately $731,000. Hedge funds and other institutional investors own 85.09% of the company’s stock.
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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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