Traders Buy High Volume of Activision Blizzard Call Options (ATVI)

Activision Blizzard, Inc (NASDAQ:ATVI) was the target of unusually large options trading on Friday. Stock traders purchased 12,742 call options on the stock. This is an increase of approximately 179% compared to the typical volume of 4,560 call options.

Activision Blizzard (NASDAQ ATVI) opened at 61.45 on Wednesday. The company has a market cap of $46.39 billion, a PE ratio of 41.49 and a beta of 1.10. The stock has a 50 day moving average price of $63.99 and a 200 day moving average price of $58.68. Activision Blizzard has a 1-year low of $35.12 and a 1-year high of $66.58.

Several research firms have recently issued reports on ATVI. Vetr raised Activision Blizzard from a “hold” rating to a “buy” rating and set a $64.58 price target for the company in a research note on Tuesday. Piper Jaffray Companies reaffirmed an “overweight” rating and set a $65.00 price target on shares of Activision Blizzard in a research note on Tuesday, July 18th. Argus reaffirmed a “buy” rating and set a $70.00 price target (up previously from $65.00) on shares of Activision Blizzard in a research note on Wednesday, August 16th. Oppenheimer Holdings, Inc. lifted their price target on Activision Blizzard from $60.00 to $70.00 and gave the stock an “outperform” rating in a research note on Thursday, June 22nd. Finally, BidaskClub downgraded shares of Activision Blizzard from a “buy” rating to a “hold” rating in a research note on Tuesday, July 25th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and twenty-four have given a buy rating to the company. Activision Blizzard currently has a consensus rating of “Buy” and a consensus target price of $65.33.

In other news, Director Brian G. Kelly sold 111,239 shares of Activision Blizzard stock in a transaction on Monday, August 7th. The stock was sold at an average price of $62.44, for a total transaction of $6,945,763.16. Following the completion of the transaction, the director now owns 189,791 shares of the company’s stock, valued at approximately $11,850,550.04. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Riccardo Zacconi sold 19,761 shares of Activision Blizzard stock in a transaction on 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 transaction, the chief executive officer now directly owns 48,472 shares of the company’s stock, valued at approximately $2,972,303.04. The disclosure for this sale can be found here. Insiders have sold a total of 4,074,879 shares of company stock valued at $252,196,001 in the last ninety days. Corporate insiders own 2.12% of the company’s stock.

A number of institutional investors and hedge funds have recently modified their holdings of the business. Harwood Advisory Group LLC raised its position in Activision Blizzard by 0.7% in the 2nd quarter. Harwood Advisory Group LLC now owns 5,288 shares of the company’s stock valued at $304,000 after purchasing an additional 36 shares during the last quarter. Macquarie Group Ltd. raised its position in Activision Blizzard by 0.4% in the 2nd quarter. Macquarie Group Ltd. now owns 12,345 shares of the company’s stock valued at $711,000 after purchasing an additional 45 shares during the last quarter. Guardian Life Insurance Co. of America raised its position in Activision Blizzard by 1.9% in the 1st quarter. Guardian Life Insurance Co. of America now owns 2,671 shares of the company’s stock valued at $133,000 after purchasing an additional 51 shares during the last quarter. D.A. Davidson & CO. raised its position in Activision Blizzard by 0.7% in the 2nd quarter. D.A. Davidson & CO. now owns 8,926 shares of the company’s stock valued at $513,000 after purchasing an additional 58 shares during the last quarter. Finally, Accuvest Global Advisors raised its position in Activision Blizzard by 2.0% in the 2nd quarter. Accuvest Global Advisors now owns 9,758 shares of the company’s stock valued at $562,000 after purchasing an additional 194 shares during the last quarter. Hedge funds and other institutional investors own 86.27% 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.

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