Activision Blizzard, Inc (ATVI) Given Buy Rating at Needham & Company LLC
Activision Blizzard, Inc (NASDAQ:ATVI)‘s stock had its “buy” rating reiterated by analysts at Needham & Company LLC in a research report issued on Thursday. They presently have a $75.00 price target on the stock. Needham & Company LLC’s price objective points to a potential upside of 22.23% from the stock’s previous close.
Several other research firms have also issued reports on ATVI. Buckingham Research initiated coverage on Activision Blizzard in a research report on Wednesday, September 20th. They set a “buy” rating and a $79.00 price target on the stock. Piper Jaffray Companies restated an “overweight” rating and set a $69.00 price target on shares of Activision Blizzard in a research report on Friday, August 4th. Vetr lowered Activision Blizzard from a “hold” rating to a “sell” rating and set a $61.90 price target on the stock. in a research report on Thursday, August 31st. Benchmark Co. raised their price target on Activision Blizzard from $71.00 to $74.00 and gave the stock a “buy” rating in a research report on Friday, August 4th. Finally, UBS AG raised their price target on Activision Blizzard from $67.00 to $72.00 and gave the stock a “buy” rating in a research report on Sunday, August 6th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and twenty-four have assigned a buy rating to the company. The company has an average rating of “Buy” and a consensus target price of $65.33.
Shares of Activision Blizzard (NASDAQ ATVI) traded up 1.86% during trading on Thursday, hitting $62.50. 1,848,713 shares of the stock traded hands. The company has a 50-day moving average of $63.90 and a 200-day moving average of $58.70. Activision Blizzard has a 52 week low of $35.12 and a 52 week high of $66.58. The firm has a market cap of $47.18 billion, a P/E ratio of 42.20 and a beta of 1.10.
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In other news, Director Brian G. Kelly sold 111,239 shares of the firm’s 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 transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Riccardo Zacconi sold 19,761 shares of the firm’s 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 transaction, the chief executive officer now owns 48,472 shares of the company’s stock, valued at approximately $2,972,303.04. The disclosure for this sale can be found here. In the last 90 days, insiders sold 4,074,879 shares of company stock valued at $252,196,001. 2.12% of the stock is currently owned by company insiders.
Large investors have recently made changes to their positions in the business. Guardian Life Insurance Co. of America raised its stake in Activision Blizzard by 1.9% during the first quarter. Guardian Life Insurance Co. of America now owns 2,671 shares of the company’s stock valued at $133,000 after buying an additional 51 shares during the last quarter. Shine Investment Advisory Services Inc. purchased a new position in Activision Blizzard during the second quarter valued at $142,000. Huntington National Bank raised its stake in Activision Blizzard by 122.6% during the second quarter. Huntington National Bank now owns 2,480 shares of the company’s stock valued at $143,000 after buying an additional 1,366 shares during the last quarter. Bronfman E.L. Rothschild L.P. raised its stake in Activision Blizzard by 16.2% during the second quarter. Bronfman E.L. Rothschild L.P. now owns 2,606 shares of the company’s stock valued at $150,000 after buying an additional 363 shares during the last quarter. Finally, Phocas Financial Corp. purchased a new position in Activision Blizzard during the second quarter valued at $173,000. Institutional investors and hedge funds 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.
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