Activision Blizzard, Inc (ATVI) Stock Rating Reaffirmed by KeyCorp
Activision Blizzard, Inc (NASDAQ:ATVI)‘s stock had its “buy” rating reissued by stock analysts at KeyCorp in a research note issued to investors on Friday. They currently have a $74.00 price target on the stock. KeyCorp’s target price points to a potential upside of 12.41% from the company’s previous close.
Several other brokerages have also recently issued reports on ATVI. Vetr raised shares of Activision Blizzard from a “buy” rating to a “strong-buy” rating and set a $65.85 target price for the company in a report on Thursday, June 15th. CIBC reissued an “outperform” rating and set a $70.00 target price (up previously from $60.00) on shares of Activision Blizzard in a report on Thursday, June 22nd. BidaskClub cut shares of Activision Blizzard from a “strong-buy” rating to a “buy” rating in a report on Wednesday, June 28th. Robert W. Baird reissued an “outperform” rating on shares of Activision Blizzard in a report on Monday, July 3rd. Finally, Jefferies Group LLC reissued a “buy” rating and set a $68.00 target price on shares of Activision Blizzard in a report on Thursday, June 8th. Two research analysts have rated the stock with a sell rating, one has given a hold rating, twenty-four have given a buy rating and one has given a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus target price of $62.79.
Shares of Activision Blizzard (NASDAQ:ATVI) opened at 65.83 on Friday. Activision Blizzard has a 52-week low of $35.12 and a 52-week high of $66.58. The company has a market cap of $49.70 billion, a P/E ratio of 44.45 and a beta of 1.08. The firm has a 50-day moving average of $62.60 and a 200-day moving average of $55.94.
In related news, CEO Riccardo Zacconi sold 19,761 shares of the business’s stock in a transaction dated Friday, August 18th. The shares were sold at an average price of $61.32, for a total transaction of $1,211,744.52. Following the transaction, the chief executive officer now directly owns 48,472 shares in the company, valued at $2,972,303.04. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Dennis M. Durkin sold 160,000 shares of the business’s stock in a transaction dated Friday, August 11th. The stock was sold at an average price of $60.68, for a total transaction of $9,708,800.00. Following the transaction, the insider now owns 337,534 shares in the company, valued at $20,481,563.12. The disclosure for this sale can be found here. Insiders have sold 4,074,879 shares of company stock worth $252,196,001 over the last 90 days. 2.12% of the stock is currently owned by company insiders.
A number of institutional investors and hedge funds have recently bought and sold shares of ATVI. EQIS Capital Management boosted its position in Activision Blizzard by 932.7% during the fourth quarter. EQIS Capital Management now owns 29,886 shares of the company’s stock worth $1,157,000 after acquiring an additional 26,992 shares during the last quarter. Janus Capital Management boosted its position in Activision Blizzard by 3,859.6% during the third quarter. Janus Capital Management now owns 590,500 shares of the company’s stock worth $18,241,000 after acquiring an additional 575,587 shares during the last quarter. Creative Planning boosted its position in Activision Blizzard by 13.1% during the fourth quarter. Creative Planning now owns 32,373 shares of the company’s stock worth $1,253,000 after acquiring an additional 3,747 shares during the last quarter. Proficio Capital Partners acquired a new position in Activision Blizzard during the fourth quarter worth about $1,347,000. Finally, Fox Run Management acquired a new position in Activision Blizzard during the fourth quarter worth about $345,000. Hedge funds and other institutional investors own 86.33% of the company’s stock.
About Activision Blizzard
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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