Activision Blizzard, Inc (NASDAQ:ATVI)‘s stock had its “buy” rating reissued by investment analysts at Argus in a research report issued on Wednesday. They presently have a $70.00 price target on the stock, up from their previous price target of $65.00. Argus’ target price indicates a potential upside of 11.31% from the company’s current price.

Several other brokerages have also issued reports on ATVI. Piper Jaffray Companies restated an “overweight” rating and issued a $69.00 price objective on shares of Activision Blizzard in a report on Friday, August 4th. Wedbush boosted their price objective on shares of Activision Blizzard to $3.00 and gave the company an “outperform” rating in a report on Friday, August 4th. Benchmark Co. boosted their price objective on shares of Activision Blizzard from $71.00 to $74.00 and gave the company a “buy” rating in a report on Friday, August 4th. Bank of America Corporation upgraded shares of Activision Blizzard from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $65.00 to $76.00 in a report on Friday, August 4th. Finally, UBS AG boosted their price objective on shares of Activision Blizzard from $67.00 to $72.00 and gave the company a “buy” rating in a report on Sunday, August 6th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, twenty-three have issued a buy rating and one has given a strong buy rating to the company. The stock presently has an average rating of “Buy” and a consensus target price of $62.56.

Activision Blizzard (NASDAQ ATVI) traded up 1.48% on Wednesday, hitting $62.89. 4,509,248 shares of the stock were exchanged. The firm has a market cap of $47.48 billion, a PE ratio of 42.46 and a beta of 1.07. The stock’s 50 day moving average price is $60.39 and its 200 day moving average price is $53.55. Activision Blizzard has a 52-week low of $35.12 and a 52-week high of $64.06.

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In related news, insider Dennis M. Durkin sold 160,000 shares of the company’s stock in a transaction that occurred on Friday, August 11th. The stock was sold at an average price of $60.68, for a total value of $9,708,800.00. Following the completion of the transaction, the insider now directly owns 337,534 shares of the company’s stock, valued at $20,481,563.12. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Brian G. Kelly sold 111,239 shares of the company’s stock in a transaction that occurred on Monday, August 7th. The shares were sold at an average price of $62.44, for a total value of $6,945,763.16. Following the completion of the transaction, the director now directly owns 189,791 shares of the company’s stock, valued at $11,850,550.04. The disclosure for this sale can be found here. Insiders sold 4,055,118 shares of company stock valued at $250,984,257 over the last ninety days. 2.12% of the stock is currently owned by corporate insiders.

Institutional investors have recently made changes to their positions in the stock. Shine Investment Advisory Services Inc. acquired a new position in shares of Activision Blizzard during the second quarter worth about $142,000. Huntington National Bank increased 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 period. Bronfman E.L. Rothschild L.P. increased 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 period. Guardian Life Insurance Co. of America increased 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 period. Finally, Benjamin F. Edwards & Company Inc. increased 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 period. 87.39% of the stock is owned by hedge funds and other institutional investors.

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.

Analyst Recommendations for Activision Blizzard (NASDAQ:ATVI)

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