Vetr cut shares of Activision Blizzard (NASDAQ:ATVI) from a hold rating to a sell rating in a research report released on Tuesday. The brokerage currently has $62.29 price objective on the stock.

A number of other research analysts have also recently weighed in on ATVI. Argus reiterated a buy rating and issued a $70.00 target price (up from $65.00) on shares of Activision Blizzard in a research note on Wednesday, August 16th. BidaskClub upgraded shares of Activision Blizzard from a hold rating to a buy rating in a research note on Saturday, August 19th. KeyCorp reiterated a buy rating and issued a $74.00 target price on shares of Activision Blizzard in a research note on Friday, September 8th. Goldman Sachs Group initiated coverage on shares of Activision Blizzard in a research note on Friday, September 8th. They issued a neutral rating and a $65.00 target price on the stock. Finally, Piper Jaffray Companies reiterated an overweight rating and issued a $69.00 target price on shares of Activision Blizzard in a research note on Friday, September 8th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, twenty-four have issued a buy rating and one has issued a strong buy rating to the stock. Activision Blizzard presently has an average rating of Buy and an average target price of $68.71.

Shares of Activision Blizzard (NASDAQ ATVI) opened at $66.73 on Tuesday. The company has a debt-to-equity ratio of 0.44, a current ratio of 2.25 and a quick ratio of 2.22. The stock has a market cap of $49,169.15, a PE ratio of 29.56, a price-to-earnings-growth ratio of 2.26 and a beta of 1.03. Activision Blizzard has a 52-week low of $35.86 and a 52-week high of $67.03.

In related news, CEO Riccardo Zacconi sold 19,761 shares of the company’s stock in a transaction that occurred on Friday, November 17th. The shares were sold at an average price of $63.64, for a total transaction of $1,257,590.04. Following the sale, the chief executive officer now directly owns 41,435 shares in the company, valued at approximately $2,636,923.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 2.12% of the company’s stock.

Several hedge funds have recently made changes to their positions in ATVI. Cornerstone Advisors Inc. lifted its stake in Activision Blizzard by 321.5% in the 3rd quarter. Cornerstone Advisors Inc. now owns 1,547 shares of the company’s stock worth $100,000 after purchasing an additional 1,180 shares in the last quarter. Grove Bank & Trust lifted its stake in Activision Blizzard by 261.7% in the 3rd quarter. Grove Bank & Trust now owns 2,170 shares of the company’s stock worth $140,000 after purchasing an additional 1,570 shares in the last quarter. Bronfman E.L. Rothschild L.P. lifted its stake in Activision Blizzard by 16.2% in the 2nd quarter. Bronfman E.L. Rothschild L.P. now owns 2,606 shares of the company’s stock worth $150,000 after purchasing an additional 363 shares in the last quarter. Phocas Financial Corp. purchased a new stake in Activision Blizzard in the 2nd quarter worth approximately $173,000. Finally, BB&T Investment Services Inc. purchased a new stake in Activision Blizzard in the 2nd quarter worth approximately $189,000. Institutional investors own 86.57% 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.

To view Vetr’s full report, visit Vetr’s official website.

Analyst Recommendations for Activision Blizzard (NASDAQ:ATVI)

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