Activision Blizzard (NASDAQ:ATVI)‘s stock had its “positive” rating reiterated by investment analysts at Citigroup in a research report issued to clients and investors on Monday, The Fly reports. They currently have a $87.00 price objective on the stock, up from their prior price objective of $78.00. Citigroup’s price objective points to a potential upside of 11.22% from the company’s current price.
ATVI has been the topic of several other reports. Vetr downgraded shares of Activision Blizzard from a “hold” rating to a “sell” rating and set a $61.27 target price on the stock. in a research report on Monday, November 20th. Sanford C. Bernstein assumed coverage on shares of Activision Blizzard in a research report on Thursday, January 18th. They set a “market perform” rating and a $74.00 target price on the stock. Wedbush set a $81.00 target price on shares of Activision Blizzard and gave the stock a “buy” rating in a research report on Friday, February 9th. Credit Suisse Group increased their target price on shares of Activision Blizzard from $81.00 to $83.00 and gave the stock an “outperform” rating in a research report on Friday, February 9th. Finally, KeyCorp set a $83.00 target price on shares of Activision Blizzard and gave the stock a “buy” rating in a research report on Friday, February 9th. Six analysts have rated the stock with a hold rating, twenty-five have assigned a buy rating and one has issued a strong buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus target price of $74.95.
Activision Blizzard (NASDAQ:ATVI) opened at $78.22 on Monday. The company has a current ratio of 1.78, a quick ratio of 1.77 and a debt-to-equity ratio of 0.46. The company has a market cap of $59,340.17, a price-to-earnings ratio of 217.28, a price-to-earnings-growth ratio of 2.08 and a beta of 1.10. Activision Blizzard has a 1 year low of $47.80 and a 1 year high of $78.25.
In related news, Director Robert J. Corti sold 88,000 shares of Activision Blizzard stock in a transaction dated Friday, February 16th. The stock was sold at an average price of $69.88, for a total transaction of $6,149,440.00. Following the sale, the director now directly owns 129,562 shares of the company’s stock, valued at $9,053,792.56. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Stephen G. Wereb sold 120,521 shares of Activision Blizzard stock in a transaction dated Thursday, March 1st. The stock was sold at an average price of $72.38, for a total value of $8,723,309.98. Following the sale, the insider now directly owns 48,511 shares in the company, valued at $3,511,226.18. The disclosure for this sale can be found here. Over the last three months, insiders have sold 2,608,282 shares of company stock worth $184,660,583. 2.12% of the stock is owned by company insiders.
A number of hedge funds have recently added to or reduced their stakes in ATVI. BlackRock Inc. grew its position in Activision Blizzard by 5.8% during the fourth quarter. BlackRock Inc. now owns 54,967,203 shares of the company’s stock worth $3,480,525,000 after buying an additional 2,992,193 shares in the last quarter. Schwab Charles Investment Management Inc. acquired a new stake in Activision Blizzard during the fourth quarter worth about $169,547,000. Egerton Capital UK LLP grew its position in Activision Blizzard by 22.0% during the fourth quarter. Egerton Capital UK LLP now owns 11,051,017 shares of the company’s stock worth $699,750,000 after buying an additional 1,991,213 shares in the last quarter. Prudential Financial Inc. grew its position in Activision Blizzard by 108.6% during the third quarter. Prudential Financial Inc. now owns 3,184,687 shares of the company’s stock worth $205,444,000 after buying an additional 1,657,730 shares in the last quarter. Finally, Bank of New York Mellon Corp lifted its stake in Activision Blizzard by 25.6% during the third quarter. Bank of New York Mellon Corp now owns 7,476,125 shares of the company’s stock worth $482,285,000 after purchasing an additional 1,523,740 shares during the period. 85.61% of the stock is currently owned by institutional investors and hedge funds.
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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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