Goldman Sachs Group, Inc. (The) started coverage on shares of Activision Blizzard, Inc (NASDAQ:ATVI) in a research note issued to investors on Friday, Marketbeat.com reports. The firm issued a neutral rating and a $65.00 target price on the stock.
Several other brokerages also recently issued reports on ATVI. KeyCorp reissued a buy rating and set a $74.00 price target on shares of Activision Blizzard in a report on Friday. Vetr downgraded shares of Activision Blizzard from a hold rating to a sell rating and set a $61.90 price target for the company. in a report on Thursday, August 31st. Piper Jaffray Companies reissued an overweight rating and set a $69.00 price target on shares of Activision Blizzard in a report on Friday, August 4th. Bank of America Corporation raised shares of Activision Blizzard from a neutral rating to a buy rating and lifted their price target for the company from $65.00 to $76.00 in a report on Friday, August 4th. Finally, Benchmark Co. lifted their price target on shares of Activision Blizzard from $71.00 to $74.00 and gave the company a buy rating in a report on Friday, August 4th. Two analysts have rated the stock with a sell rating, two have issued a hold rating, twenty-four have given a buy rating and one has given a strong buy rating to the company. The company presently has a consensus rating of Buy and a consensus price target of $62.87.
Activision Blizzard (NASDAQ ATVI) opened at 64.93 on Friday. The firm has a 50-day moving average of $62.71 and a 200 day moving average of $56.00. The company has a market cap of $49.02 billion, a PE ratio of 43.84 and a beta of 1.08. Activision Blizzard has a 52-week low of $35.12 and a 52-week high of $66.58.
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In related news, CEO Riccardo Zacconi sold 19,761 shares of Activision Blizzard stock in a transaction that occurred on Friday, August 18th. The shares were sold at an average price of $61.32, for a total transaction of $1,211,744.52. Following the transaction, the chief executive officer now owns 48,472 shares of the company’s stock, valued at approximately $2,972,303.04. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Dennis M. Durkin sold 160,000 shares of Activision Blizzard stock in a transaction that occurred on Friday, August 11th. The stock was sold at an average price of $60.68, for a total transaction of $9,708,800.00. Following the transaction, the insider now directly owns 337,534 shares in the company, valued at approximately $20,481,563.12. The disclosure for this sale can be found here. Insiders have sold a total of 4,074,879 shares of company stock worth $252,196,001 in the last three months. 2.12% of the stock is owned by insiders.
Institutional investors have recently added to or reduced their stakes in the stock. Shine Investment Advisory Services Inc. bought a new position in Activision Blizzard during the 2nd quarter worth approximately $142,000. Huntington National Bank boosted its stake in Activision Blizzard by 122.6% during the 2nd quarter. Huntington National Bank now owns 2,480 shares of the company’s stock worth $143,000 after acquiring an additional 1,366 shares during the last quarter. Bronfman E.L. Rothschild L.P. boosted its stake in Activision Blizzard by 16.2% during the 2nd quarter. Bronfman E.L. Rothschild L.P. now owns 2,606 shares of the company’s stock worth $150,000 after acquiring an additional 363 shares during the last quarter. Guardian Life Insurance Co. of America boosted its stake in Activision Blizzard by 1.9% during the 1st quarter. Guardian Life Insurance Co. of America now owns 2,671 shares of the company’s stock worth $133,000 after acquiring an additional 51 shares during the last quarter. Finally, Phocas Financial Corp. bought a new position in Activision Blizzard during the 2nd quarter worth approximately $173,000. 86.33% of the stock is currently owned by institutional investors and hedge funds.
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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