Activision Blizzard, Inc. (ATVI) Updates Q4 Earnings Guidance
Activision Blizzard, Inc. (NASDAQ:ATVI) issued an update on its fourth quarter earnings guidance on Thursday morning. The company provided earnings per share guidance of $0.10 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $0.17. Activision Blizzard also updated its FY17 guidance to $1.22 EPS.
A number of equities research analysts recently issued reports on ATVI shares. Zacks Investment Research raised Activision Blizzard from a hold rating to a buy rating and set a $64.00 target price on the stock in a research report on Wednesday, July 5th. Vetr lowered Activision Blizzard from a strong-buy rating to a buy rating and set a $67.48 target price on the stock. in a research report on Wednesday, July 12th. Jefferies Group LLC reissued a buy rating and issued a $68.00 target price on shares of Activision Blizzard in a research report on Thursday, July 13th. Needham & Company LLC started coverage on Activision Blizzard in a research report on Monday, July 17th. They issued a buy rating and a $75.00 target price on the stock. Finally, Robert W. Baird reissued an outperform rating and issued a $60.00 target price on shares of Activision Blizzard in a research report on Monday, July 17th. Two research analysts have rated the stock with a sell rating, four have issued a hold rating, twenty-three have issued a buy rating and one has issued a strong buy rating to the stock. The company presently has an average rating of Buy and a consensus price target of $67.91.
In other news, Director Brian G. Kelly sold 111,239 shares of the company’s stock in a transaction on Monday, August 7th. The stock was 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 directly owns 189,791 shares in the company, valued at approximately $11,850,550.04. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Riccardo Zacconi sold 19,761 shares of the company’s stock in a transaction 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 sale, the chief executive officer now owns 48,472 shares of the company’s stock, valued at $2,972,303.04. The disclosure for this sale can be found here. Insiders sold a total of 4,074,879 shares of company stock valued at $252,196,001 over the last 90 days. 2.12% of the stock is currently owned by corporate insiders.
Activision Blizzard Company Profile
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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