Investors sold shares of Activision Blizzard, Inc (NASDAQ:ATVI) on strength during trading on Thursday. $46.04 million flowed into the stock on the tick-up and $72.79 million flowed out of the stock on the tick-down, for a money net flow of $26.75 million out of the stock. Of all companies tracked, Activision Blizzard had the 0th highest net out-flow for the day. Activision Blizzard traded up $0.49 for the day and closed at $61.99
A number of analysts have weighed in on ATVI shares. Buckingham Research started coverage on shares of Activision Blizzard in a report on Wednesday, September 20th. They set a “buy” rating and a $79.00 price objective on the stock. Piper Jaffray Companies reissued an “overweight” rating and set a $69.00 price objective on shares of Activision Blizzard in a report on Friday, August 4th. Vetr cut shares of Activision Blizzard from a “hold” rating to a “sell” rating and set a $61.90 price objective on the stock. in a report on Thursday, August 31st. Benchmark Co. raised their price objective 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. Finally, UBS AG raised their price objective on shares of Activision Blizzard from $67.00 to $72.00 and gave the stock a “buy” rating in a report on Sunday, August 6th. 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 stock. Activision Blizzard presently has an average rating of “Buy” and an average price target of $65.33.
The company has a market cap of $47.28 billion, a P/E ratio of 42.29 and a beta of 1.10. The company has a 50 day moving average of $63.47 and a 200 day moving average of $59.23.
In related news, CEO Riccardo Zacconi sold 19,761 shares of the firm’s stock in a transaction dated Friday, August 18th. The stock was sold at an average price of $61.32, for a total transaction of $1,211,744.52. Following the completion of the transaction, the chief executive officer now owns 48,472 shares of the company’s stock, valued at $2,972,303.04. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Brian G. Kelly sold 111,239 shares of the firm’s stock in a transaction dated Monday, August 7th. The shares were sold at an average price of $62.44, for a total value of $6,945,763.16. Following the transaction, the director now directly owns 189,791 shares of the company’s stock, valued at approximately $11,850,550.04. The disclosure for this sale can be found here. Insiders have sold 4,074,879 shares of company stock worth $252,196,001 over the last three months. Corporate insiders own 2.12% of the company’s stock.
A number of hedge funds have recently made changes to their positions in ATVI. Teachers Advisors LLC boosted its stake in Activision Blizzard by 41.9% during the first quarter. Teachers Advisors LLC now owns 1,632,248 shares of the company’s stock valued at $81,384,000 after buying an additional 482,049 shares in the last quarter. Thrivent Financial For Lutherans boosted its stake in Activision Blizzard by 6.7% during the first quarter. Thrivent Financial For Lutherans now owns 25,750 shares of the company’s stock valued at $1,279,000 after buying an additional 1,610 shares in the last quarter. MARSHALL WACE ASIA Ltd bought a new position in Activision Blizzard during the first quarter valued at about $2,491,000. Cambridge Investment Research Advisors Inc. boosted its stake in Activision Blizzard by 107.6% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 49,985 shares of the company’s stock valued at $2,492,000 after buying an additional 25,910 shares in the last quarter. Finally, Bluestein R H & Co. boosted its stake in Activision Blizzard by 1,065.8% during the first quarter. Bluestein R H & Co. now owns 174,863 shares of the company’s stock valued at $8,719,000 after buying an additional 159,863 shares in the last quarter. 86.33% of the stock is 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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