Activision Blizzard, Inc (NASDAQ:ATVI) – Equities research analysts at Jefferies Group upped their Q3 2017 earnings per share (EPS) estimates for Activision Blizzard in a research report issued to clients and investors on Tuesday. Jefferies Group analyst T. O’shea now forecasts that the company will post earnings per share of $0.56 for the quarter, up from their previous estimate of $0.50. Jefferies Group has a “Buy” rating and a $78.00 price objective on the stock. Jefferies Group also issued estimates for Activision Blizzard’s Q4 2017 earnings at $0.99 EPS.

Other equities research analysts have also issued reports about the stock. Needham & Company LLC started coverage on shares of Activision Blizzard in a research note on Monday, July 17th. They issued a “buy” rating and a $75.00 price objective on the stock. Vetr lowered shares of Activision Blizzard from a “strong-buy” rating to a “buy” rating and set a $67.48 price objective on the stock. in a research note on Wednesday, July 12th. SunTrust Banks, Inc. started coverage on shares of Activision Blizzard in a research note on Thursday, June 29th. They issued a “buy” rating and a $67.00 price objective on the stock. BidaskClub lowered shares of Activision Blizzard from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, June 28th. Finally, Zacks Investment Research raised shares of Activision Blizzard from a “hold” rating to a “buy” rating and set a $64.00 price objective on the stock in a research note on Wednesday, July 5th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and twenty-three have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $65.16.

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Activision Blizzard (NASDAQ ATVI) opened at 62.73 on Wednesday. The firm has a 50-day moving average of $63.35 and a 200-day moving average of $59.56. Activision Blizzard has a 52 week low of $35.12 and a 52 week high of $66.58. The company has a market capitalization of $47.36 billion, a PE ratio of 42.36 and a beta of 1.10.

In other news, Director Brian G. Kelly sold 111,239 shares of the stock in a transaction dated 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 sale, the director now owns 189,791 shares in the company, valued at $11,850,550.04. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Brian G. Kelly sold 3,685,000 shares of the stock in a transaction dated Wednesday, August 9th. The shares were sold at an average price of $61.93, for a total transaction of $228,212,050.00. Following the completion of the sale, the director now owns 189,791 shares of the company’s stock, valued at approximately $11,753,756.63. The disclosure for this sale can be found here. In the last quarter, insiders sold 4,074,879 shares of company stock valued at $252,196,001. 2.12% of the stock is currently owned by corporate insiders.

Several hedge funds have recently made changes to their positions in ATVI. Teachers Advisors LLC raised its holdings in shares of Activision Blizzard by 41.9% in the first quarter. Teachers Advisors LLC now owns 1,632,248 shares of the company’s stock valued at $81,384,000 after purchasing an additional 482,049 shares during the last quarter. Thrivent Financial For Lutherans raised its holdings in shares of Activision Blizzard by 6.7% in the first quarter. Thrivent Financial For Lutherans now owns 25,750 shares of the company’s stock valued at $1,279,000 after purchasing an additional 1,610 shares during the last quarter. BlackRock Inc. raised its holdings 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 valued at $2,438,753,000 after purchasing an additional 47,350,818 shares during the last quarter. KCG Holdings Inc. raised its holdings in shares of Activision Blizzard by 6.1% in the first quarter. KCG Holdings Inc. now owns 48,671 shares of the company’s stock valued at $2,427,000 after purchasing an additional 2,799 shares during the last quarter. Finally, Invictus RG purchased a new stake in shares of Activision Blizzard in the first quarter valued at about $275,000. Institutional investors own 86.34% 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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