Activision Blizzard, Inc (NASDAQ:ATVI) was the target of a large increase in short interest in the month of September. As of September 29th, there was short interest totalling 13,897,264 shares, an increase of 9.0% from the September 15th total of 12,753,802 shares. Approximately 2.0% of the company’s shares are short sold. Based on an average daily volume of 6,024,335 shares, the days-to-cover ratio is presently 2.3 days.

Shares of Activision Blizzard (ATVI) opened at 61.08 on Friday. Activision Blizzard has a one year low of $35.12 and a one year high of $66.58. The stock has a market capitalization of $46.11 billion, a price-to-earnings ratio of 41.24 and a beta of 1.10. The firm’s 50-day moving average is $63.81 and its 200-day moving average is $58.87.

In other news, insider Dennis M. Durkin sold 160,000 shares of the company’s stock in a transaction dated Friday, August 11th. The shares were sold at an average price of $60.68, for a total value of $9,708,800.00. Following the sale, the insider now directly owns 337,534 shares of the company’s stock, valued at approximately $20,481,563.12. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Riccardo Zacconi sold 19,761 shares of the company’s stock in a transaction dated Friday, August 18th. The stock was sold at an average price of $61.32, for a total transaction of $1,211,744.52. Following the completion of the sale, the chief executive officer now directly owns 48,472 shares in the company, valued at $2,972,303.04. The disclosure for this sale can be found here. Over the last three months, insiders have sold 4,074,879 shares of company stock worth $252,196,001. Insiders own 2.12% of the company’s stock.

Several hedge funds have recently made changes to their positions in ATVI. Guardian Life Insurance Co. of America raised its stake in shares of 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 buying an additional 51 shares during the period. Shine Investment Advisory Services Inc. acquired a new position in shares of Activision Blizzard during the 2nd quarter worth approximately $142,000. Huntington National Bank raised its stake in shares of 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 buying an additional 1,366 shares during the period. Bronfman E.L. Rothschild L.P. raised its stake in shares of 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 buying an additional 363 shares during the period. Finally, Phocas Financial Corp. acquired a new position in shares of Activision Blizzard during the 2nd quarter worth approximately $173,000. 86.27% of the stock is owned by institutional investors and hedge funds.

A number of research firms have recently weighed in on ATVI. Needham & Company LLC reaffirmed a “buy” rating and issued a $75.00 target price on shares of Activision Blizzard in a research report on Thursday. Vetr raised shares of Activision Blizzard from a “hold” rating to a “buy” rating and set a $64.58 target price on the stock in a research report on Tuesday, October 10th. Stifel Nicolaus reaffirmed a “buy” rating and issued a $71.00 target price on shares of Activision Blizzard in a research report on Monday, October 9th. Cowen and Company downgraded shares of Activision Blizzard from an “outperform” rating to a “market perform” rating and set a $66.00 target price on the stock. in a research report on Monday, October 9th. Finally, Jefferies Group LLC reaffirmed a “buy” rating and issued a $78.00 target price on shares of Activision Blizzard in a research report on Sunday, October 8th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and twenty-four have assigned a buy rating to the stock. The company has a consensus rating of “Buy” and an average target price of $65.33.

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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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