Activision Blizzard, Inc. (NASDAQ:ATVI) insider Dennis M. Durkin sold 71,488 shares of the stock in a transaction on Wednesday, March 14th. The shares were sold at an average price of $75.65, for a total value of $5,408,067.20. Following the completion of the transaction, the insider now directly owns 151,314 shares in the company, valued at approximately $11,446,904.10. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website.
Shares of Activision Blizzard stock traded down $1.85 during midday trading on Thursday, hitting $69.76. The stock had a trading volume of 5,097,613 shares, compared to its average volume of 6,847,178. The company has a market cap of $54,143.54, a PE ratio of 193.78, a price-to-earnings-growth ratio of 1.90 and a beta of 1.10. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.78 and a quick ratio of 1.77. Activision Blizzard, Inc. has a 12 month low of $48.13 and a 12 month high of $79.63.
Activision Blizzard (NASDAQ:ATVI) last announced its quarterly earnings data on Thursday, February 8th. The company reported $0.94 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.92 by $0.02. The company had revenue of $2.64 billion during the quarter, compared to analysts’ expectations of $2.55 billion. Activision Blizzard had a return on equity of 17.48% and a net margin of 3.89%. Activision Blizzard’s revenue for the quarter was up 7.7% compared to the same quarter last year. During the same quarter last year, the company earned $0.65 EPS. sell-side analysts anticipate that Activision Blizzard, Inc. will post 2.57 earnings per share for the current fiscal year.
Hedge funds and other institutional investors have recently made changes to their positions in the company. ADAMCAPITAL Gestao de Recursos Ltda. acquired a new stake in Activision Blizzard in the 4th quarter valued at about $85,023,000. Cambridge Investment Research Advisors Inc. lifted its stake in Activision Blizzard by 80.9% in the 4th quarter. Cambridge Investment Research Advisors Inc. now owns 108,861 shares of the company’s stock valued at $6,893,000 after purchasing an additional 48,667 shares during the last quarter. Xact Kapitalforvaltning AB lifted its stake in Activision Blizzard by 6.2% in the 4th quarter. Xact Kapitalforvaltning AB now owns 147,493 shares of the company’s stock valued at $9,339,000 after purchasing an additional 8,597 shares during the last quarter. Envestnet Asset Management Inc. lifted its stake in Activision Blizzard by 16.8% in the 4th quarter. Envestnet Asset Management Inc. now owns 77,408 shares of the company’s stock valued at $4,902,000 after purchasing an additional 11,153 shares during the last quarter. Finally, BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lifted its stake in Activision Blizzard by 6.8% in the 4th quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 446,565 shares of the company’s stock valued at $28,276,000 after purchasing an additional 28,480 shares during the last quarter. Institutional investors own 85.56% of the company’s stock.
A number of analysts recently commented on ATVI shares. Sanford C. Bernstein started coverage on shares of Activision Blizzard in a research report on Thursday, January 18th. They issued a “market perform” rating and a $74.00 price objective for the company. Vetr upgraded shares of Activision Blizzard from a “sell” rating to a “hold” rating and set a $74.33 price objective for the company in a research report on Tuesday, January 30th. Wedbush set a $81.00 price objective on shares of Activision Blizzard and gave the company a “buy” rating in a research report on Friday, February 9th. Zacks Investment Research upgraded shares of Activision Blizzard from a “hold” rating to a “buy” rating and set a $86.00 price objective for the company in a research report on Tuesday, March 13th. Finally, Credit Suisse Group upped their price objective on shares of Activision Blizzard from $81.00 to $83.00 and gave the company an “outperform” rating in a research report on Friday, February 9th. Five analysts have rated the stock with a hold rating, twenty-six have assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus target price of $75.03.
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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.
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