Activision Blizzard, Inc (ATVI) Rating Lowered to Hold at Vetr Inc.

Activision Blizzard, Inc (NASDAQ:ATVI) was downgraded by investment analysts at Vetr from a “strong-buy” rating to a “hold” rating in a research report issued on Monday. They currently have a $47.83 price target on the stock. Vetr‘s price objective suggests a potential upside of 6.34% from the company’s previous close.

ATVI has been the topic of a number of other research reports. Jefferies Group LLC reiterated a “buy” rating and issued a $55.00 price target on shares of Activision Blizzard in a research note on Friday, February 10th. Wedbush reiterated an “outperform” rating and issued a $53.00 price target on shares of Activision Blizzard in a research note on Friday, February 10th. Robert W. Baird reiterated an “outperform” rating and issued a $47.00 price target on shares of Activision Blizzard in a research note on Friday, February 10th. Oppenheimer Holdings, Inc. reiterated an “outperform” rating and issued a $53.00 price target on shares of Activision Blizzard in a research note on Friday, February 10th. Finally, Mizuho upped their price target on shares of Activision Blizzard to $50.00 in a research note on Friday, February 10th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and seventeen have assigned a buy rating to the company. Activision Blizzard currently has a consensus rating of “Buy” and a consensus price target of $48.19.

Analyst Recommendations for Activision Blizzard (NASDAQ:ATVI)

Shares of Activision Blizzard (NASDAQ:ATVI) opened at 44.98 on Monday. Activision Blizzard has a 12-month low of $28.65 and a 12-month high of $47.64. The company has a market capitalization of $33.47 billion, a PE ratio of 35.14 and a beta of 1.03. The firm’s 50-day moving average is $39.37 and its 200-day moving average is $40.64.

Activision Blizzard (NASDAQ:ATVI) last released its quarterly earnings data on Thursday, February 9th. The company reported $0.92 earnings per share for the quarter, topping the consensus estimate of $0.73 by $0.19. The company had revenue of $2.45 billion for the quarter, compared to analyst estimates of $2.39 billion. Activision Blizzard had a net margin of 13.86% and a return on equity of 16.70%. Activision Blizzard’s revenue for the quarter was up 81.2% compared to the same quarter last year. During the same period in the previous year, the business earned $0.83 EPS. On average, equities research analysts anticipate that Activision Blizzard will post $1.96 EPS for the current fiscal year.

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In other news, CEO Riccardo Zacconi sold 19,761 shares of the stock in a transaction on Thursday, November 17th. The shares were sold at an average price of $40.09, for a total transaction of $792,218.49. Following the completion of the sale, the chief executive officer now directly owns 69,583 shares in the company, valued at $2,789,582.47. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director Brian G. Kelly sold 5,037,998 shares of the stock in a transaction on Tuesday, February 14th. The stock was sold at an average price of $45.67, for a total transaction of $230,085,368.66. Following the sale, the director now owns 559,850 shares of the company’s stock, valued at $25,568,349.50. The disclosure for this sale can be found here. Corporate insiders own 25.23% of the company’s stock.

Several large investors have recently bought and sold shares of the company. Bronfman E.L. Rothschild L.P. boosted its stake in Activision Blizzard by 0.5% in the third quarter. Bronfman E.L. Rothschild L.P. now owns 4,879 shares of the company’s stock valued at $216,000 after buying an additional 24 shares during the period. Checchi Capital Advisers LLC raised its position in shares of Activision Blizzard by 0.5% in the third quarter. Checchi Capital Advisers LLC now owns 8,574 shares of the company’s stock valued at $380,000 after buying an additional 39 shares in the last quarter. Commerce Bank raised its position in shares of Activision Blizzard by 0.3% in the third quarter. Commerce Bank now owns 17,148 shares of the company’s stock valued at $760,000 after buying an additional 46 shares in the last quarter. Northwestern Mutual Investment Management Company LLC raised its position in shares of Activision Blizzard by 0.4% in the second quarter. Northwestern Mutual Investment Management Company LLC now owns 19,432 shares of the company’s stock valued at $770,000 after buying an additional 69 shares in the last quarter. Finally, Buckingham Asset Management LLC raised its position in shares of Activision Blizzard by 1.5% in the third quarter. Buckingham Asset Management LLC now owns 5,543 shares of the company’s stock valued at $246,000 after buying an additional 82 shares in the last quarter. Institutional investors own 86.29% of the company’s stock.

About Activision Blizzard

Activision Blizzard, Inc is a developer and publisher of online, personal computer (PC), video game console, handheld, mobile and tablet games. The Company operates through Activision Publishing, Inc (Activision) and its subsidiaries, Blizzard Entertainment, Inc (Blizzard) and its subsidiaries, and Other segments.

5 Day Chart for NASDAQ:ATVI

To view Vetr’s full report, visit Vetr’s official website.

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