Activision Blizzard (NASDAQ:ATVI) has been given a $70.00 price objective by investment analysts at Barclays in a research note issued to investors on Friday. The firm presently has a “hold” rating on the stock. Barclays’ price target would suggest a potential upside of 8.90% from the stock’s current price.
Several other equities analysts have also recently weighed in on the company. KeyCorp set a $83.00 price objective on Activision Blizzard and gave the company a “buy” rating in a report on Friday. Jefferies Group reiterated a “buy” rating on shares of Activision Blizzard in a report on Friday. Wedbush set a $81.00 price objective on Activision Blizzard and gave the company a “buy” rating in a report on Friday. Robert W. Baird lifted their price objective on Activision Blizzard from $75.00 to $80.00 and gave the company an “outperform” rating in a report on Friday. Finally, Credit Suisse Group lifted their price objective on Activision Blizzard from $81.00 to $83.00 and gave the company an “outperform” rating in a report on Friday. Six research analysts have rated the stock with a hold rating and twenty-six have given a buy rating to the stock. Activision Blizzard has an average rating of “Buy” and a consensus price target of $71.75.
Activision Blizzard (NASDAQ:ATVI) traded down $1.55 during trading on Friday, hitting $64.28. The stock had a trading volume of 11,084,529 shares, compared to its average volume of 6,425,966. The firm has a market cap of $49,770.00, a price-to-earnings ratio of 44.03, a P/E/G ratio of 1.91 and a beta of 1.11. Activision Blizzard has a 52 week low of $44.47 and a 52 week high of $74.94. The company has a debt-to-equity ratio of 0.44, a current ratio of 2.25 and a quick ratio of 2.22.
In other news, CEO Riccardo Zacconi sold 19,761 shares of the stock in a transaction dated Friday, November 17th. The stock was sold at an average price of $63.64, for a total value of $1,257,590.04. Following the completion of the sale, the chief executive officer now owns 41,435 shares of the company’s stock, valued at $2,636,923.40. The sale was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 2.12% of the company’s stock.
Several hedge funds have recently modified their holdings of the company. Cornerstone Advisors Inc. grew its stake in Activision Blizzard by 321.5% during the third quarter. Cornerstone Advisors Inc. now owns 1,547 shares of the company’s stock worth $100,000 after purchasing an additional 1,180 shares during the period. SeaCrest Wealth Management LLC purchased a new stake in Activision Blizzard in the fourth quarter worth $125,000. Goodman Financial Corp purchased a new stake in Activision Blizzard in the fourth quarter worth $127,000. Grove Bank & Trust increased its position in Activision Blizzard by 261.7% in the third quarter. Grove Bank & Trust now owns 2,170 shares of the company’s stock worth $140,000 after buying an additional 1,570 shares during the last quarter. Finally, Phocas Financial Corp. purchased a new position in shares of Activision Blizzard in the second quarter valued at $173,000. 86.04% of the stock is owned by institutional investors.
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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