Activision Blizzard, Inc. (NASDAQ:ATVI)‘s stock had its “outperform” rating restated by research analysts at Oppenheimer Holdings Inc. in a report issued on Friday, May 5th. They presently have a $60.00 target price on the stock, up from their prior target price of $53.00. Oppenheimer Holdings Inc.’s price target would suggest a potential upside of 7.37% from the stock’s previous close.
ATVI has been the topic of several other reports. Stifel Nicolaus reissued a “buy” rating and set a $53.00 price objective (up from $45.00) on shares of Activision Blizzard in a research report on Friday, February 10th. Vetr raised shares of Activision Blizzard from a “sell” rating to a “buy” rating and set a $59.23 price objective on the stock in a research report on Tuesday, May 2nd. Jefferies Group LLC reaffirmed a “buy” rating and issued a $55.00 target price on shares of Activision Blizzard in a report on Thursday, January 12th. Benchmark Co. lifted their target price on shares of Activision Blizzard from $50.87 to $53.90 and gave the company a “buy” rating in a report on Friday, February 3rd. Finally, Wedbush lifted their target price on shares of Activision Blizzard from $53.00 to $62.50 and gave the company an “outperform” rating in a report on Friday, May 5th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and seventeen have issued a buy rating to the company’s stock. Activision Blizzard currently has an average rating of “Buy” and a consensus target price of $53.37.
Shares of Activision Blizzard (NASDAQ:ATVI) traded up 1.32% during midday trading on Friday, hitting $55.88. 6,032,635 shares of the stock were exchanged. Activision Blizzard has a 12 month low of $35.12 and a 12 month high of $57.30. The company has a market cap of $42.11 billion, a PE ratio of 41.00 and a beta of 1.03. The stock has a 50 day moving average price of $51.91 and a 200-day moving average price of $44.11.
Activision Blizzard (NASDAQ:ATVI) last issued its quarterly earnings data on Thursday, May 4th. The company reported $0.27 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.16 by $0.11. Activision Blizzard had a net margin of 13.86% and a return on equity of 16.70%. The company had revenue of $1.20 billion for the quarter, compared to the consensus estimate of $1.09 billion. During the same period last year, the firm posted $0.23 EPS. Activision Blizzard’s revenue for the quarter was up 31.7% on a year-over-year basis. On average, analysts predict that Activision Blizzard will post $1.99 EPS for the current year.
In other news, CEO Riccardo Zacconi sold 19,761 shares of the business’s stock in a transaction on Tuesday, February 21st. The shares were sold at an average price of $45.41, for a total transaction of $897,347.01. Following the transaction, the chief executive officer now directly owns 62,546 shares of the company’s stock, valued at $2,840,213.86. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Brian G. Kelly sold 420,063 shares of the business’s stock in a transaction on Tuesday, March 28th. The stock was sold at an average price of $49.90, for a total transaction of $20,961,143.70. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 459,585 shares of company stock valued at $22,954,238. 25.23% of the stock is owned by insiders.
A number of hedge funds have recently bought and sold shares of ATVI. BlackRock Inc. boosted its stake in Activision Blizzard by 3,032.9% in the first quarter. BlackRock Inc. now owns 48,912,065 shares of the company’s stock valued at $2,438,753,000 after buying an additional 47,350,818 shares in the last quarter. Jennison Associates LLC boosted its stake in Activision Blizzard by 110,271.4% in the first quarter. Jennison Associates LLC now owns 12,179,488 shares of the company’s stock valued at $607,269,000 after buying an additional 12,168,453 shares in the last quarter. Egerton Capital UK LLP boosted its stake in Activision Blizzard by 225.7% in the first quarter. Egerton Capital UK LLP now owns 12,219,008 shares of the company’s stock valued at $609,240,000 after buying an additional 8,467,902 shares in the last quarter. Capital World Investors bought a new stake in Activision Blizzard during the third quarter valued at about $334,624,000. Finally, Janus Capital Management LLC boosted its stake in Activision Blizzard by 54.1% in the fourth quarter. Janus Capital Management LLC now owns 17,377,443 shares of the company’s stock valued at $627,710,000 after buying an additional 6,099,218 shares in the last quarter. 86.29% of the stock is currently owned by hedge funds and other institutional investors.
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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