Activision Blizzard’s (ATVI) Overweight Rating Reiterated at Piper Jaffray Companies
Activision Blizzard, Inc (NASDAQ:ATVI)‘s stock had its “overweight” rating restated by stock analysts at Piper Jaffray Companies in a report released on Friday. They presently have a $69.00 price target on the stock. Piper Jaffray Companies’ price target indicates a potential upside of 6.27% from the stock’s previous close.
Other equities research analysts have also recently issued reports about the company. Vetr cut Activision Blizzard from a “strong-buy” rating to a “buy” rating and set a $64.63 target price on the stock. in a research report on Wednesday, June 14th. Jefferies Group LLC restated a “buy” rating and set a $68.00 target price on shares of Activision Blizzard in a research report on Thursday, June 8th. Stifel Nicolaus raised their target price on Activision Blizzard from $59.00 to $60.00 and gave the company a “buy” rating in a research report on Monday, May 15th. Argus raised their price target on shares of Activision Blizzard from $53.00 to $65.00 and gave the company a “buy” rating in a research note on Monday, May 22nd. Finally, Benchmark Co. raised their price target on shares of Activision Blizzard from $60.00 to $71.00 and gave the company a “buy” rating in a research note on Wednesday, June 21st. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating, twenty-four have given a buy rating and one has given a strong buy rating to the company. The company presently has a consensus rating of “Buy” and an average target price of $62.87.
Activision Blizzard (ATVI) opened at 64.93 on Friday. The stock has a market capitalization of $49.02 billion, a P/E ratio of 43.84 and a beta of 1.08. Activision Blizzard has a 12 month low of $35.12 and a 12 month high of $66.58. The stock has a 50 day moving average price of $62.71 and a 200 day moving average price of $56.00.
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In related news, CEO Riccardo Zacconi sold 19,761 shares of Activision Blizzard stock in a transaction that occurred on Friday, August 18th. The shares were sold at an average price of $61.32, for a total value of $1,211,744.52. Following the completion of the sale, the chief executive officer now owns 48,472 shares in the company, valued at approximately $2,972,303.04. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Brian G. Kelly sold 111,239 shares of Activision Blizzard stock in a transaction that occurred on Monday, August 7th. The shares were sold at an average price of $62.44, for a total transaction of $6,945,763.16. Following the completion of the sale, the director now owns 189,791 shares of the company’s stock, valued at approximately $11,850,550.04. The disclosure for this sale can be found here. Insiders have sold a total of 4,074,879 shares of company stock valued at $252,196,001 in the last 90 days. Insiders own 2.12% of the company’s stock.
A number of institutional investors have recently bought and sold shares of the stock. BlackRock Inc. grew its stake in shares of Activision Blizzard by 3,032.9% in the first quarter. BlackRock Inc. now owns 48,912,065 shares of the company’s stock worth $2,438,753,000 after acquiring an additional 47,350,818 shares in the last quarter. Janus Henderson Group PLC grew its stake in shares of Activision Blizzard by 820.8% in the second quarter. Janus Henderson Group PLC now owns 20,298,735 shares of the company’s stock worth $1,168,587,000 after acquiring an additional 18,094,334 shares in the last quarter. Jennison Associates LLC grew its stake in shares of Activision Blizzard by 82.6% in the second quarter. Jennison Associates LLC now owns 22,287,591 shares of the company’s stock worth $1,283,097,000 after acquiring an additional 10,083,717 shares in the last quarter. Egerton Capital UK LLP grew its stake in shares of Activision Blizzard by 225.7% in the first quarter. Egerton Capital UK LLP now owns 12,219,008 shares of the company’s stock worth $609,240,000 after acquiring an additional 8,467,902 shares in the last quarter. Finally, Capital World Investors grew its stake in shares of Activision Blizzard by 23.8% in the second quarter. Capital World Investors now owns 22,538,000 shares of the company’s stock worth $1,297,513,000 after acquiring an additional 4,327,000 shares in the last quarter. 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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