Activision Blizzard, Inc. (NASDAQ:ATVI) Director Robert J. Morgado sold 32,000 shares of the company’s stock in a transaction dated Wednesday, February 12th. The stock was sold at an average price of $62.24, for a total transaction of $1,991,680.00. Following the completion of the transaction, the director now owns 85,161 shares in the company, valued at approximately $5,300,420.64. The sale was disclosed in a legal filing with the SEC, which is available through this link.
NASDAQ ATVI opened at $63.52 on Friday. Activision Blizzard, Inc. has a 52 week low of $40.89 and a 52 week high of $63.54. The firm has a market capitalization of $48.09 billion, a P/E ratio of 30.24, a PEG ratio of 2.27 and a beta of 0.87. The company has a quick ratio of 2.49, a current ratio of 2.50 and a debt-to-equity ratio of 0.21. The company has a 50-day moving average price of $59.88 and a 200-day moving average price of $54.97.
Activision Blizzard (NASDAQ:ATVI) last released its quarterly earnings results on Thursday, February 6th. The company reported $1.23 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.19 by $0.04. Activision Blizzard had a net margin of 23.18% and a return on equity of 13.16%. The firm had revenue of $2.71 billion during the quarter, compared to analyst estimates of $2.68 billion. During the same quarter in the prior year, the firm earned $0.84 EPS. The business’s revenue for the quarter was down 4.5% compared to the same quarter last year. As a group, equities research analysts anticipate that Activision Blizzard, Inc. will post 2.27 EPS for the current year.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in ATVI. BlackRock Inc. boosted its position in shares of Activision Blizzard by 3.4% in the second quarter. BlackRock Inc. now owns 48,425,839 shares of the company’s stock valued at $2,285,699,000 after acquiring an additional 1,613,122 shares during the period. Reilly Financial Advisors LLC lifted its position in Activision Blizzard by 44.9% during the third quarter. Reilly Financial Advisors LLC now owns 1,806 shares of the company’s stock valued at $96,000 after purchasing an additional 560 shares during the last quarter. Tributary Capital Management LLC lifted its position in Activision Blizzard by 36.5% during the third quarter. Tributary Capital Management LLC now owns 8,600 shares of the company’s stock valued at $455,000 after purchasing an additional 2,300 shares during the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd lifted its position in Activision Blizzard by 9.1% during the third quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 47,498 shares of the company’s stock valued at $2,513,000 after purchasing an additional 3,961 shares during the last quarter. Finally, Assenagon Asset Management S.A. lifted its position in Activision Blizzard by 591.1% during the third quarter. Assenagon Asset Management S.A. now owns 200,426 shares of the company’s stock valued at $10,607,000 after purchasing an additional 171,426 shares during the last quarter. 88.65% of the stock is owned by hedge funds and other institutional investors.
A number of equities analysts have weighed in on ATVI shares. Bank of America set a $62.00 target price on Activision Blizzard and gave the stock a “buy” rating in a research report on Friday, October 18th. Piper Sandler boosted their target price on Activision Blizzard from $62.00 to $69.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 28th. Benchmark reissued a “buy” rating and issued a $72.00 target price on shares of Activision Blizzard in a research report on Friday, February 7th. UBS Group reissued a “buy” rating and issued a $66.00 target price (up previously from $56.00) on shares of Activision Blizzard in a research report on Wednesday, November 13th. Finally, Zacks Investment Research lowered Activision Blizzard from a “buy” rating to a “hold” rating and set a $60.00 target price for the company. in a research report on Tuesday, November 12th. One analyst has rated the stock with a sell rating, five have assigned a hold rating, twenty-two have issued a buy rating and one has given a strong buy rating to the company. Activision Blizzard presently has a consensus rating of “Buy” and an average target price of $64.40.
About Activision Blizzard
Activision Blizzard, Inc develops and distributes content and services on video game consoles, personal computers (PC), and mobile devices. The company operates through three segments: Activision Publishing, Inc; Blizzard Entertainment, Inc; and King Digital Entertainment. It develops, publishes, and sells interactive software products and entertainment content for the console and PC platforms through retail and digital channels, including subscription, full-game, and in-game sales, as well as by licensing software to third-party or related-party companies; and offers downloadable content.
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