Activision Blizzard, Inc (ATVI) Downgraded by Cowen and Company to Market Perform

Cowen and Company cut shares of Activision Blizzard, Inc (NASDAQ:ATVI) from an outperform rating to a market perform rating in a research note published on Monday morning. They currently have $66.00 target price on the stock.

Several other equities analysts have also weighed in on the stock. Jefferies Group LLC restated a buy rating and issued a $78.00 price objective on shares of Activision Blizzard in a report on Sunday. Zacks Investment Research downgraded shares of Activision Blizzard from a buy rating to a hold rating in a research note on Friday. Barclays PLC initiated coverage on shares of Activision Blizzard in a research note on Wednesday, October 4th. They issued an equal weight rating and a $65.00 target price for the company. Vetr raised shares of Activision Blizzard from a hold rating to a buy rating and set a $64.25 target price for the company in a research note on Wednesday, September 27th. Finally, Robert W. Baird reaffirmed an outperform rating and issued a $68.00 target price on shares of Activision Blizzard in a research note on Wednesday, September 20th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and twenty-four have given a buy rating to the company. The stock currently has an average rating of Buy and an average price target of $65.32.

Activision Blizzard (ATVI) opened at 61.18 on Monday. Activision Blizzard has a 52-week low of $35.12 and a 52-week high of $66.58. The stock has a market capitalization of $46.19 billion, a PE ratio of 41.31 and a beta of 1.10. The firm’s 50-day moving average is $64.00 and its 200 day moving average is $58.59.

TRADEMARK VIOLATION NOTICE: “Activision Blizzard, Inc (ATVI) Downgraded by Cowen and Company to Market Perform” was posted by The Ledger Gazette and is the property of of The Ledger Gazette. If you are accessing this piece on another website, it was illegally stolen and republished in violation of U.S. and international trademark and copyright law. The correct version of this piece can be read at https://ledgergazette.com/2017/10/10/activision-blizzard-inc-atvi-downgraded-by-cowen-and-company-to-market-perform.html.

In other Activision Blizzard news, Director Brian G. Kelly sold 111,239 shares of the stock in a transaction on 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 completion of the sale, the director now owns 189,791 shares in the company, valued at $11,850,550.04. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Dennis M. Durkin sold 160,000 shares of the stock in a transaction on Friday, August 11th. The shares were sold at an average price of $60.68, for a total transaction of $9,708,800.00. Following the completion of the sale, the insider now owns 337,534 shares of the company’s stock, valued at approximately $20,481,563.12. The disclosure for this sale can be found here. In the last ninety days, insiders sold 4,074,879 shares of company stock valued at $252,196,001. 2.12% of the stock is owned by insiders.

Hedge funds have recently made changes to their positions in the business. Allen Investment Management LLC acquired a new stake in Activision Blizzard in the second quarter valued at $2,095,000. DnB Asset Management AS lifted its stake in Activision Blizzard by 10.6% in the second quarter. DnB Asset Management AS now owns 80,653 shares of the company’s stock valued at $4,643,000 after acquiring an additional 7,700 shares during the last quarter. Pacad Investment Ltd. lifted its stake in Activision Blizzard by 131.0% in the second quarter. Pacad Investment Ltd. now owns 119,447 shares of the company’s stock valued at $6,877,000 after acquiring an additional 67,742 shares during the last quarter. Norinchukin Bank The lifted its stake in Activision Blizzard by 7.1% in the second quarter. Norinchukin Bank The now owns 48,118 shares of the company’s stock valued at $2,7

Several other equities analysts have also weighed in on the stock. Jefferies Group LLC restated a buy rating and issued a $78.00 price objective on shares of Activision Blizzard in a report on Sunday. Zacks Investment Research downgraded shares of Activision Blizzard from a buy rating to a hold rating in a research note on Friday. Barclays PLC initiated coverage on shares of Activision Blizzard in a research note on Wednesday, October 4th. They issued an equal weight rating and a $65.00 target price for the company. Vetr raised shares of Activision Blizzard from a hold rating to a buy rating and set a $64.25 target price for the company in a research note on Wednesday, September 27th. Finally, Robert W. Baird reaffirmed an outperform rating and issued a $68.00 target price on shares of Activision Blizzard in a research note on Wednesday, September 20th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and twenty-four have given a buy rating to the company. The stock currently has an average rating of Buy and an average price target of $65.32.

Activision Blizzard (ATVI) opened at 61.18 on Monday. Activision Blizzard has a 52-week low of $35.12 and a 52-week high of $66.58. The stock has a market capitalization of $46.19 billion, a PE ratio of 41.31 and a beta of 1.10. The firm’s 50-day moving average is $64.00 and its 200 day moving average is $58.59.

TRADEMARK VIOLATION NOTICE: “Activision Blizzard, Inc (ATVI) Downgraded by Cowen and Company to Market Perform” was posted by The Ledger Gazette and is the property of of The Ledger Gazette. If you are accessing this piece on another website, it was illegally stolen and republished in violation of U.S. and international trademark and copyright law. The correct version of this piece can be read at https://ledgergazette.com/2017/10/10/activision-blizzard-inc-atvi-downgraded-by-cowen-and-company-to-market-perform.html.

In other Activision Blizzard news, Director Brian G. Kelly sold 111,239 shares of the stock in a transaction on 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 completion of the sale, the director now owns 189,791 shares in the company, valued at $11,850,550.04. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Dennis M. Durkin sold 160,000 shares of the stock in a transaction on Friday, August 11th. The shares were sold at an average price of $60.68, for a total transaction of $9,708,800.00. Following the completion of the sale, the insider now owns 337,534 shares of the company’s stock, valued at approximately $20,481,563.12. The disclosure for this sale can be found here. In the last ninety days, insiders sold 4,074,879 shares of company stock valued at $252,196,001. 2.12% of the stock is owned by insiders.

Hedge funds have recently made changes to their positions in the business. Allen Investment Management LLC acquired a new stake in Activision Blizzard in the second quarter valued at $2,095,000. DnB Asset Management AS lifted its stake in Activision Blizzard by 10.6% in the second quarter. DnB Asset Management AS now owns 80,653 shares of the company’s stock valued at $4,643,000 after acquiring an additional 7,700 shares during the last quarter. Pacad Investment Ltd. lifted its stake in Activision Blizzard by 131.0% in the second quarter. Pacad Investment Ltd. now owns 119,447 shares of the company’s stock valued at $6,877,000 after acquiring an additional 67,742 shares during the last quarter. Norinchukin Bank The lifted its stake in Activision Blizzard by 7.1% in the second quarter. Norinchukin Bank The now owns 48,118 shares of the company’s stock valued at $2,770,000 after acquiring an additional 3,170 shares during the last quarter. Finally, Brighton Jones LLC acquired a new stake in Activision Blizzard in the second quarter valued at $508,000. Hedge funds and other institutional investors own 86.27% of the company’s stock.

About Activision Blizzard

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.

Analyst Recommendations for Activision Blizzard (NASDAQ:ATVI)

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