Vetr downgraded shares of Activision Blizzard, Inc (NASDAQ:ATVI) from a strong-buy rating to a buy rating in a report released on Wednesday, July 12th. They currently have $67.48 price objective on the stock.
Several other brokerages have also recently issued reports on ATVI. Morgan Stanley raised their price objective on Activision Blizzard from $54.00 to $55.00 and gave the stock an overweight rating in a research note on Monday, March 27th. Jefferies Group LLC set a $55.00 price objective on Activision Blizzard and gave the stock a buy rating in a research note on Thursday, March 16th. Credit Suisse Group restated an outperform rating and set a $62.00 price objective (up from $61.00) on shares of Activision Blizzard in a research note on Friday, May 5th. Stifel Nicolaus restated a buy rating and set a $59.00 price objective (up from $53.00) on shares of Activision Blizzard in a research note on Tuesday, May 2nd. Finally, Zacks Investment Research upgraded Activision Blizzard from a hold rating to a buy rating and set a $64.00 price objective on the stock in a research note on Wednesday, July 5th. One analyst has rated the stock with a sell rating, three have given a hold rating and twenty-three have assigned a buy rating to the stock. Activision Blizzard presently has an average rating of Buy and a consensus target price of $60.33.
Shares of Activision Blizzard (ATVI) traded down 1.89% during mid-day trading on Wednesday, hitting $61.33. 8,623,183 shares of the stock traded hands. Activision Blizzard has a one year low of $35.12 and a one year high of $63.19. The stock has a 50-day moving average of $59.80 and a 200 day moving average of $52.00. The stock has a market cap of $46.22 billion, a PE ratio of 45.00 and a beta of 1.07.
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In related news, CEO of King Digital Riccardo Zacconi sold 19,761 shares of Activision Blizzard stock in a transaction dated Wednesday, May 17th. The stock was 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 of the company’s stock, valued at $3,077,974.05. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. 2.12% of the stock is owned by insiders.
Institutional investors have recently modified their holdings of the company. Shine Investment Advisory Services Inc. bought a new position in shares of Activision Blizzard during the second quarter worth $142,000. Huntington National Bank boosted its position in shares of Activision Blizzard by 122.6% in the second quarter. Huntington National Bank now owns 2,480 shares of the company’s stock worth $143,000 after buying an additional 1,366 shares in the last quarter. Guardian Life Insurance Co. of America boosted its position 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. Benjamin F. Edwards & Company Inc. boosted its position in shares of Activision Blizzard by 504.6% in the first quarter. Benjamin F. Edwards & Company Inc. now owns 3,023 shares of the company’s stock worth $151,000 after buying an additional 2,523 shares in the last quarter. Finally, Beacon Investment Advisory Services Inc. bought a new position in shares of Activision Blizzard during the second quarter worth $206,000. 87.37% of the stock is currently owned by hedge funds and other 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.
To view Vetr’s full report, visit Vetr’s official website.
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