Activision Blizzard, Inc (ATVI) Upgraded at Vetr Inc.
Activision Blizzard, Inc (NASDAQ:ATVI) was upgraded by equities researchers at Vetr from a “hold” rating to a “buy” rating in a report released on Tuesday. The firm currently has a $64.58 price target on the stock. Vetr‘s target price would indicate a potential upside of 5.09% from the company’s previous close.
Other equities analysts have also issued research reports about the stock. Piper Jaffray Companies reiterated an “overweight” rating and issued a $65.00 target price on shares of Activision Blizzard in a research report on Tuesday, July 18th. Argus reiterated a “buy” rating and issued a $70.00 target price (up previously from $65.00) on shares of Activision Blizzard in a research report on Wednesday, August 16th. Oppenheimer Holdings, Inc. increased their target price on shares of Activision Blizzard from $60.00 to $70.00 and gave the company an “outperform” rating in a research report on Thursday, June 22nd. BidaskClub lowered shares of Activision Blizzard from a “buy” rating to a “hold” rating in a research report on Tuesday, July 25th. Finally, Benchmark Co. increased their target price on shares of Activision Blizzard from $71.00 to $74.00 and gave the company a “buy” rating in a research report on Friday, August 4th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and twenty-four have issued a buy rating to the company’s stock. Activision Blizzard has an average rating of “Buy” and an average price target of $65.33.
Shares of Activision Blizzard (ATVI) traded up 0.44% during mid-day trading on Tuesday, hitting $61.45. 5,735,606 shares of the company traded hands. The firm has a 50-day moving average price of $63.99 and a 200 day moving average price of $58.68. The firm has a market cap of $46.39 billion, a price-to-earnings ratio of 41.49 and a beta of 1.10. Activision Blizzard has a 52-week low of $35.12 and a 52-week high of $66.58.
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In related news, insider Dennis M. Durkin sold 160,000 shares of the 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 transaction, the insider now owns 337,534 shares in the company, valued at $20,481,563.12. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Brian G. Kelly sold 111,239 shares of the stock in a transaction that occurred on Monday, August 7th. The stock was 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 owns 189,791 shares in the company, valued at approximately $11,850,550.04. The disclosure for this sale can be found here. Insiders sold 4,074,879 shares of company stock worth $252,196,001 in the last 90 days. 2.12% of the stock is currently owned by corporate insiders.
A number of large investors have recently added to or reduced their stakes in the stock. Ardsley Advisory Partners acquired a new position in Activision Blizzard in the second quarter worth approximately $403,000. Davidson Kempner Capital Management LP increased its holdings in Activision Blizzard by 15.4% in the second quarter. Davidson Kempner Capital Management LP now owns 375,000 shares of the company’s stock worth $21,585,000 after buying an additional 50,000 shares during the last quarter. W. E. Donoghue & Co. LLC acquired a new position in Activision Blizzard in the second quarter worth approximately $2,182,000. Intl Fcstone Inc. acquired a new position in Activision Blizzard in the second quarter worth approximately $276,000. Finally, Achmea Investment Management B.V. increased its holdings in Activision Blizzard by 15.4% in the second quarter. Achmea Investment Management B.V. now owns 33,562 shares of the company’s stock worth $1,931,000 after buying an additional 4,472 shares during the last quarter. Hedge funds and other institutional investors own 86.27% 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.
To view Vetr’s full report, visit Vetr’s official website.
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