Activision Blizzard, Inc (NASDAQ:ATVI) Given “Outperform” Rating at Robert W. Baird
Activision Blizzard, Inc (NASDAQ:ATVI)‘s stock had its “outperform” rating reaffirmed by investment analysts at Robert W. Baird in a research report issued to clients and investors on Thursday. They currently have a $68.00 price objective on the stock, up from their prior price objective of $60.00. Robert W. Baird’s price target would suggest a potential upside of 10.79% from the stock’s current price.
Several other brokerages have also recently issued reports on ATVI. Cowen and Company raised their target price on shares of Activision Blizzard from $51.00 to $59.00 and gave the stock an “outperform” rating in a report on Monday, May 15th. Piper Jaffray Companies restated an “overweight” rating and issued a $69.00 target price on shares of Activision Blizzard in a report on Friday, August 4th. Benchmark Co. raised their target price on shares of Activision Blizzard from $71.00 to $74.00 and gave the stock a “buy” rating in a report on Friday, August 4th. UBS AG raised their target price on shares of Activision Blizzard from $67.00 to $72.00 and gave the stock a “buy” rating in a report on Sunday. Finally, MKM Partners restated a “neutral” rating and issued a $48.00 target price (up previously from $44.00) on shares of Activision Blizzard in a report on Tuesday, May 2nd. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, twenty-three have issued a buy rating and one has assigned a strong buy rating to the company. The company has a consensus rating of “Buy” and a consensus price target of $62.36.
Shares of Activision Blizzard (NASDAQ:ATVI) opened at 61.38 on Thursday. The company has a 50 day moving average of $60.15 and a 200-day moving average of $52.22. Activision Blizzard has a 12-month low of $35.12 and a 12-month high of $64.06. The company has a market cap of $46.26 billion, a PE ratio of 45.03 and a beta of 1.07.
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In other Activision Blizzard news, Director Brian G. Kelly sold 98,879 shares of Activision Blizzard stock in a transaction on Tuesday, August 8th. The shares were sold at an average price of $61.87, for a total value of $6,117,643.73. Following the completion of the transaction, the director now directly owns 189,791 shares of the company’s stock, valued at approximately $11,742,369.17. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO of King Digital Riccardo Zacconi sold 19,761 shares of Activision Blizzard stock in a transaction on 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 completion of the transaction, the insider now directly owns 55,509 shares of the company’s stock, valued at $3,077,974.05. The disclosure for this sale can be found here. Insiders sold a total of 3,914,879 shares of company stock valued at $242,371,204 over the last three months. Corporate insiders own 2.12% of the company’s stock.
Several institutional investors have recently modified their holdings of ATVI. Shine Investment Advisory Services Inc. acquired a new position in shares of Activision Blizzard during the second quarter worth approximately $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 during the last quarter. Bronfman E.L. Rothschild L.P. boosted its position in shares of Activision Blizzard by 16.2% in the second 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 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 during the last quarter. Finally, 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 during the last quarter. 87.37% of the stock is 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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