Piper Jaffray Companies Reaffirms Overweight Rating for Activision Blizzard, Inc. (ATVI)
Piper Jaffray Companies restated their overweight rating on shares of Activision Blizzard, Inc. (NASDAQ:ATVI) in a research report released on Friday. Piper Jaffray Companies currently has a $69.00 price target on the stock.
Several other research firms also recently issued reports on ATVI. Goldman Sachs Group, Inc. (The) began coverage on shares of Activision Blizzard in a report on Friday. They set a neutral rating and a $65.00 price objective on the stock. KeyCorp reiterated a buy rating and issued a $74.00 price target on shares of Activision Blizzard in a report on Friday. Vetr downgraded shares of Activision Blizzard from a hold rating to a sell rating and set a $61.90 price target on the stock. in a report on Thursday, August 31st. Wedbush increased their price target on shares of Activision Blizzard to $3.00 and gave the stock an outperform rating in a report on Friday, August 4th. Finally, Benchmark Co. increased their price target on shares of Activision Blizzard from $71.00 to $74.00 and gave the stock a buy rating in a report on Friday, August 4th. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating, twenty-four have issued a buy rating and one has assigned a strong buy rating to the company. The stock currently has a consensus rating of Buy and an average target price of $62.87.
Activision Blizzard (ATVI) opened at 66.16 on Friday. The stock has a market cap of $49.95 billion, a P/E ratio of 44.67 and a beta of 1.08. The company has a 50 day moving average of $62.77 and a 200-day moving average of $56.24. Activision Blizzard has a 12-month low of $35.12 and a 12-month high of $66.58.
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In other Activision Blizzard news, insider Dennis M. Durkin sold 160,000 shares of the firm’s stock in a transaction on Friday, August 11th. The stock was sold at an average price of $60.68, for a total value of $9,708,800.00. Following the transaction, the insider now owns 337,534 shares in the company, valued at approximately $20,481,563.12. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Riccardo Zacconi sold 19,761 shares of the firm’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 completion of the transaction, the chief executive officer now owns 48,472 shares in the company, valued at approximately $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 worth $252,196,001 in the last 90 days. 2.12% of the stock is currently owned by insiders.
A number of hedge funds have recently made changes to their positions in the business. Intl Fcstone Inc. purchased a new position in Activision Blizzard in the 2nd quarter valued at $276,000. Achmea Investment Management B.V. lifted its holdings in Activision Blizzard by 15.4% in the 2nd quarter. Achmea Investment Management B.V. now owns 33,562 shares of the company’s stock valued at $1,931,000 after purchasing an additional 4,472 shares in the last quarter. Lord Abbett & CO. LLC lifted its holdings in Activision Blizzard by 73.8% in the 2nd quarter. Lord Abbett & CO. LLC now owns 391,117 shares of the company’s stock valued at $22,517,000 after purchasing an additional 166,066 shares in the last quarter. Phocas Financial Corp. purchased a new position in Activision Blizzard in the 2nd quarter valued at $173,000. Finally, Toronto Dominion Bank lifted its holdings in Activision Blizzard by 26.6% in the 2nd quarter. Toronto Dominion Bank now owns 235,042 shares of the company’s stock valued at $13,528,000 after purchasing an additional 49,445 shares in the last quarter. Institutional investors own 86.33% of the company’s stock.
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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