Darwin Advisors LLC reduced its holdings in Activision Blizzard, Inc. (NASDAQ:ATVI) by 8.2% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 38,998 shares of the company’s stock after selling 3,497 shares during the quarter. Darwin Advisors LLC’s holdings in Activision Blizzard were worth $3,156,000 at the end of the most recent quarter.
Other hedge funds have also modified their holdings of the company. Howe & Rusling Inc. increased its holdings in shares of Activision Blizzard by 506.9% during the second quarter. Howe & Rusling Inc. now owns 352 shares of the company’s stock valued at $27,000 after acquiring an additional 294 shares in the last quarter. Cerebellum GP LLC bought a new stake in shares of Activision Blizzard during the second quarter valued at approximately $28,000. Virtus ETF Advisers LLC purchased a new position in shares of Activision Blizzard during the second quarter valued at approximately $32,000. Modus Advisors LLC purchased a new position in shares of Activision Blizzard during the second quarter valued at approximately $34,000. Finally, Bay Harbor Wealth Management LLC bought a new position in Activision Blizzard in the 2nd quarter valued at $41,000. Institutional investors and hedge funds own 86.12% of the company’s stock.
A number of analysts recently issued reports on the stock. Deutsche Bank Aktiengesellschaft upgraded shares of Activision Blizzard from a “hold” rating to a “buy” rating and raised their price objective for the stock from $75.00 to $90.00 in a report on Tuesday, October 13th. Needham & Company LLC raised their price objective on shares of Activision Blizzard from $90.00 to $102.00 and gave the company a “buy” rating in a research report on Wednesday, August 5th. KeyCorp raised their price objective on shares of Activision Blizzard from $83.00 to $90.00 and gave the company an “overweight” rating in a research report on Thursday, July 23rd. BMO Capital Markets lowered shares of Activision Blizzard from an “outperform” rating to a “market perform” rating and cut their price objective for the company from $95.00 to $80.00 in a research report on Tuesday, October 13th. Finally, Edward Jones assumed coverage on shares of Activision Blizzard in a research report on Tuesday, July 14th. They issued a “buy” rating for the company. Six investment analysts have rated the stock with a hold rating, twenty-six have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Activision Blizzard presently has a consensus rating of “Buy” and a consensus price target of $87.27.
Activision Blizzard (NASDAQ:ATVI) last posted its earnings results on Tuesday, August 4th. The company reported $0.93 EPS for the quarter, topping analysts’ consensus estimates of $0.63 by $0.30. Activision Blizzard had a net margin of 25.96% and a return on equity of 17.66%. The business had revenue of $2.08 billion during the quarter, compared to the consensus estimate of $1.69 billion. Research analysts forecast that Activision Blizzard, Inc. will post 3.01 earnings per share for the current year.
In other Activision Blizzard news, CAO Jesse Yang acquired 1,000 shares of the business’s stock in a transaction dated Friday, August 14th. The stock was purchased at an average price of $80.00 per share, with a total value of $80,000.00. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CFO Dennis M. Durkin sold 50,000 shares of the business’s stock in a transaction on Thursday, August 27th. The shares were sold at an average price of $83.51, for a total transaction of $4,175,500.00. Following the sale, the chief financial officer now directly owns 442,096 shares of the company’s stock, valued at approximately $36,919,436.96. The disclosure for this sale can be found here. In the last three months, insiders have sold 62,904 shares of company stock valued at $5,286,012. Insiders own 1.29% of the company’s stock.
Activision Blizzard Profile
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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