Vetr upgraded shares of Activision Blizzard Inc. (NASDAQ:ATVI) from a hold rating to a buy rating in a report published on Monday morning. The brokerage currently has $46.28 target price on the stock.
ATVI has been the topic of a number of other reports. BMO Capital Markets reissued a market perform rating and set a $38.00 price objective on shares of Activision Blizzard in a report on Wednesday, August 10th. Zacks Investment Research lowered shares of Activision Blizzard from a buy rating to a hold rating in a report on Tuesday, September 20th. Piper Jaffray Cos. upped their price target on shares of Activision Blizzard from $42.00 to $46.00 and gave the company an overweight rating in a report on Friday, August 5th. Benchmark Co. reaffirmed a buy rating on shares of Activision Blizzard in a report on Wednesday, August 10th. Finally, Jefferies Group reaffirmed a buy rating on shares of Activision Blizzard in a report on Monday, July 11th. Three research analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the company. Activision Blizzard has a consensus rating of Buy and a consensus price target of $44.79.
Activision Blizzard (NASDAQ:ATVI) opened at 44.53 on Monday. The company has a market capitalization of $33.02 billion, a PE ratio of 44.84 and a beta of 1.09. The stock’s 50 day moving average price is $42.86 and its 200 day moving average price is $39.04. Activision Blizzard has a 12-month low of $26.49 and a 12-month high of $45.12.
Activision Blizzard (NASDAQ:ATVI) last announced its quarterly earnings data on Thursday, August 4th. The company reported $0.45 earnings per share for the quarter, beating analysts’ consensus estimates of $0.42 by $0.03. The firm had revenue of $1.57 billion for the quarter, compared to analyst estimates of $1.44 billion. Activision Blizzard had a net margin of 13.95% and a return on equity of 14.49%. The business’s quarterly revenue was up 112.0% compared to the same quarter last year. During the same period in the previous year, the company earned $0.13 earnings per share. On average, equities analysts anticipate that Activision Blizzard will post $1.99 EPS for the current fiscal year.
In other Activision Blizzard news, CEO Robert A. Kotick sold 4,588,775 shares of the stock in a transaction that occurred on Monday, August 15th. The shares were sold at an average price of $40.51, for a total transaction of $185,891,275.25. Following the sale, the chief executive officer now directly owns 797,049 shares in the company, valued at approximately $32,288,454.99. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, insider Christopher B. Walther sold 45,574 shares of the stock in a transaction that occurred on Friday, September 2nd. The stock was sold at an average price of $42.73, for a total transaction of $1,947,377.02. The disclosure for this sale can be found here. Corporate insiders own 25.23% of the company’s stock.
A number of large investors have recently added to or reduced their stakes in the company. Bessemer Group Inc. raised its stake in Activision Blizzard by 103.0% in the second quarter. Bessemer Group Inc. now owns 5,062 shares of the company’s stock worth $201,000 after buying an additional 2,568 shares during the period. Los Angeles Capital Management & Equity Research Inc. acquired a new stake in Activision Blizzard during the second quarter worth about $210,000. FDO Partners LLC acquired a new stake in Activision Blizzard during the first quarter worth about $216,000. Buckingham Asset Management LLC acquired a new stake in Activision Blizzard during the second quarter worth about $216,000. Finally, Palladium Partners LLC acquired a new stake in Activision Blizzard during the second quarter worth about $220,000. Institutional investors own 83.67% of the company’s stock.
Activision Blizzard Company Profile
Activision Blizzard, Inc is a developer and publisher of online, personal computer (PC), video game console, handheld, mobile and tablet games. The Company operates through Activision Publishing, Inc (Activision) and its subsidiaries, Blizzard Entertainment, Inc (Blizzard) and its subsidiaries, and Other segments.
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