Activision Blizzard Inc. (ATVI) Stock Rating Upgraded by Vetr Inc.
Activision Blizzard Inc. (NASDAQ:ATVI) was upgraded by Vetr from a “hold” rating to a “buy” rating in a research note issued on Monday. The firm presently has a $46.28 price target on the stock. Vetr‘s price target indicates a potential upside of 5.37% from the stock’s current price.
Other analysts have also issued reports about the stock. Pacific Crest restated a “buy” rating on shares of Activision Blizzard in a research report on Sunday, June 26th. Barclays PLC reiterated a “buy” rating on shares of Activision Blizzard in a report on Saturday, June 18th. Stifel Nicolaus reiterated a “buy” rating and set a $35.00 target price on shares of Activision Blizzard in a report on Tuesday, July 12th. Jefferies Group reiterated a “buy” rating on shares of Activision Blizzard in a report on Monday, July 11th. Finally, Piper Jaffray Cos. reiterated a “buy” rating on shares of Activision Blizzard in a report on Friday, June 10th. Four analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company’s stock. The company has an average rating of “Buy” and an average target price of $44.79.
Activision Blizzard (NASDAQ:ATVI) traded down 0.16% during trading on Monday, reaching $43.92. The company’s stock had a trading volume of 5,604,240 shares. The company has a 50-day moving average of $43.09 and a 200 day moving average of $39.16. Activision Blizzard has a one year low of $26.49 and a one year high of $45.12. The firm has a market cap of $32.57 billion, a PE ratio of 44.23 and a beta of 1.09.
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Activision Blizzard (NASDAQ:ATVI) last posted its quarterly earnings results on Thursday, August 4th. The company reported $0.45 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.42 by $0.03. Activision Blizzard had a net margin of 13.95% and a return on equity of 14.49%. The business earned $1.57 billion during the quarter, compared to analyst estimates of $1.44 billion. During the same period in the prior year, the business posted $0.13 earnings per share. The company’s revenue was up 112.0% on a year-over-year basis. Analysts expect that Activision Blizzard will post $1.99 EPS for the current fiscal year.
In related news, CEO Riccardo Zacconi sold 19,761 shares of the firm’s stock in a transaction that occurred on Monday, August 8th. The shares were sold at an average price of $40.65, for a total value of $803,284.65. Following the sale, the chief executive officer now owns 97,177 shares in the company, valued at $3,950,245.05. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Brian G. Kelly sold 386,927 shares of the firm’s stock in a transaction that occurred on Monday, August 15th. The stock was sold at an average price of $40.51, for a total transaction of $15,674,412.77. Following the completion of the sale, the director now owns 292,929 shares in the company, valued at approximately $11,866,553.79. The disclosure for this sale can be found here. 25.23% of the stock is currently owned by corporate insiders.
A number of large investors have recently modified their holdings of the company. FMR LLC boosted its stake in shares of Activision Blizzard by 88.7% in the second quarter. FMR LLC now owns 105,342,767 shares of the company’s stock valued at $4,174,735,000 after buying an additional 49,511,148 shares in the last quarter. Vanguard Group Inc. boosted its position in shares of Activision Blizzard by 3.6% in the second quarter. Vanguard Group Inc. now owns 33,277,915 shares of the company’s stock valued at $1,318,803,000 after buying an additional 1,166,054 shares in the last quarter. Ameriprise Financial Inc. boosted its position in shares of Activision Blizzard by 45.0% in the second quarter. Ameriprise Financial Inc. now owns 30,276,592 shares of the company’s stock valued at $1,199,862,000 after buying an additional 9,390,129 shares in the last quarter. State Street Corp boosted its position in shares of Activision Blizzard by 2.6% in the second quarter. State Street Corp now owns 19,349,183 shares of the company’s stock valued at $766,806,000 after buying an additional 492,609 shares in the last quarter. Finally, BlackRock Institutional Trust Company N.A. boosted its position in shares of Activision Blizzard by 4.8% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 14,279,811 shares of the company’s stock valued at $565,909,000 after buying an additional 650,789 shares in the last quarter. 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.
To view Vetr’s full report, visit Vetr’s official website.
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