Activision Blizzard (NASDAQ:ATVI) was downgraded by stock analysts at Vetr from a “hold” rating to a “sell” rating in a report issued on Tuesday. They currently have a $62.29 target price on the stock. Vetr‘s price objective indicates a potential downside of 3.28% from the stock’s previous close.

ATVI has been the subject of several other reports. Morgan Stanley boosted their price target on Activision Blizzard from $70.00 to $72.00 and gave the stock an “overweight” rating in a research report on Friday, November 3rd. Barclays began coverage on Activision Blizzard in a research report on Wednesday, October 4th. They set an “equal weight” rating and a $65.00 price target for the company. Argus reiterated a “buy” rating and set a $70.00 price target (up from $65.00) on shares of Activision Blizzard in a research report on Wednesday, August 16th. Stifel Nicolaus reiterated a “buy” rating on shares of Activision Blizzard in a research report on Sunday, September 10th. Finally, Goldman Sachs Group upgraded Activision Blizzard from a “neutral” rating to a “buy” rating in a research report on Tuesday. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, twenty-four have given a buy rating and one has issued a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and an average target price of $68.71.

Shares of Activision Blizzard (ATVI) traded up $1.23 on Tuesday, hitting $64.40. The company had a trading volume of 6,459,686 shares, compared to its average volume of 6,755,414. The company has a debt-to-equity ratio of 0.44, a current ratio of 2.25 and a quick ratio of 2.22. Activision Blizzard has a 52-week low of $35.86 and a 52-week high of $67.03. The stock has a market capitalization of $47,203.30, a PE ratio of 28.38, a price-to-earnings-growth ratio of 2.17 and a beta of 1.03.

In other news, CEO Riccardo Zacconi sold 19,761 shares of the stock in a transaction on Friday, November 17th. The stock was sold at an average price of $63.64, for a total transaction of $1,257,590.04. Following the completion of the transaction, the chief executive officer now directly owns 41,435 shares in the company, valued at approximately $2,636,923.40. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 2.12% of the stock is owned by corporate insiders.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in ATVI. Acadian Asset Management LLC acquired a new position in Activision Blizzard during the 2nd quarter worth about $318,000. Bessemer Group Inc. lifted its stake in Activision Blizzard by 12.3% during the 2nd quarter. Bessemer Group Inc. now owns 6,460 shares of the company’s stock worth $372,000 after acquiring an additional 710 shares in the last quarter. Wedbush Securities Inc. lifted its stake in Activision Blizzard by 10.9% during the 2nd quarter. Wedbush Securities Inc. now owns 11,923 shares of the company’s stock worth $686,000 after acquiring an additional 1,176 shares in the last quarter. Pitcairn Co. acquired a new position in Activision Blizzard during the 2nd quarter worth about $249,000. Finally, Advisors Asset Management Inc. lifted its stake in Activision Blizzard by 8.0% during the 2nd quarter. Advisors Asset Management Inc. now owns 9,648 shares of the company’s stock worth $555,000 after acquiring an additional 716 shares in the last quarter. Institutional investors and hedge funds own 86.57% of the company’s stock.

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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.

Analyst Recommendations for Activision Blizzard (NASDAQ:ATVI)

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