Activision Blizzard, Inc (NASDAQ:ATVI) gapped down prior to trading on Monday . The stock had previously closed at $65.00, but opened at $63.25. Activision Blizzard shares last traded at $61.18, with a volume of 8,839,325 shares traded.

ATVI has been the subject of several research reports. Cowen and Company cut Activision Blizzard from an “outperform” rating to a “market perform” rating and set a $66.00 target price for the company. in a report on Monday. Piper Jaffray Companies reiterated an “overweight” rating and issued a $69.00 target price on shares of Activision Blizzard in a report on Friday, September 8th. Goldman Sachs Group, Inc. (The) initiated coverage on Activision Blizzard in a report on Friday, September 8th. They issued a “neutral” rating and a $65.00 target price for the company. KeyCorp reiterated a “buy” rating and issued a $74.00 target price on shares of Activision Blizzard in a report on Friday, September 8th. Finally, Morgan Stanley reiterated an “overweight” rating and issued a $67.00 target price on shares of Activision Blizzard in a report on Saturday, July 22nd. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and twenty-four have assigned a buy rating to the company. The company has a consensus rating of “Buy” and an average target price of $65.33.

The stock has a market cap of $46.39 billion, a price-to-earnings ratio of 41.49 and a beta of 1.10. The firm’s 50-day moving average price is $63.99 and its 200 day moving average price is $58.68.

In other news, CEO Riccardo Zacconi sold 19,761 shares of the business’s stock in a transaction dated Friday, August 18th. The stock was sold at an average price of $61.32, for a total value of $1,211,744.52. Following the completion of the sale, the chief executive officer now directly owns 48,472 shares of the company’s stock, valued at approximately $2,972,303.04. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Brian G. Kelly sold 98,879 shares of the business’s stock in a transaction dated Tuesday, August 8th. The shares were sold at an average price of $61.87, for a total value of $6,117,643.73. Following the completion of the sale, the director now directly owns 189,791 shares of the company’s stock, valued at $11,742,369.17. 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 three months. Company insiders own 2.12% of the company’s stock.

Several institutional investors have recently bought and sold shares of ATVI. BlackRock Inc. lifted its holdings in shares of Activision Blizzard by 3,032.9% in the 1st quarter. BlackRock Inc. now owns 48,912,065 shares of the company’s stock valued at $2,438,753,000 after purchasing an additional 47,350,818 shares during the last quarter. Janus Henderson Group PLC lifted its holdings in shares of Activision Blizzard by 820.8% in the 2nd quarter. Janus Henderson Group PLC now owns 20,298,735 shares of the company’s stock valued at $1,168,587,000 after purchasing an additional 18,094,334 shares during the last quarter. Jennison Associates LLC lifted its holdings in shares of Activision Blizzard by 82.6% in the 2nd quarter. Jennison Associates LLC now owns 22,287,591 shares of the company’s stock valued at $1,283,097,000 after purchasing an additional 10,083,717 shares during the last quarter. Capital World Investors lifted its holdings in shares of Activision Blizzard by 23.8% in the 2nd quarter. Capital World Investors now owns 22,538,000 shares of the company’s stock valued at $1,297,513,000 after purchasing an additional 4,327,000 shares during the last quarter. Finally, Caxton Associates LP purchased a new stake in shares of Activision Blizzard in the 1st quarter valued at about $149,610,000. 86.27% of the stock is owned by institutional investors and hedge funds.

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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.

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