Iridian Asset Management LLC CT Decreases Holdings in Activision (ATVI)

Iridian Asset Management LLC CT reduced its stake in Activision (NASDAQ:ATVI) by 38.3% during the 1st quarter, HoldingsChannel reports. The fund owned 2,096,538 shares of the company’s stock after selling 1,302,907 shares during the quarter. Iridian Asset Management LLC CT’s holdings in Activision were worth $141,432,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in ATVI. BlackRock Inc. raised its stake in Activision by 5.8% in the fourth quarter. BlackRock Inc. now owns 54,967,203 shares of the company’s stock valued at $3,480,525,000 after buying an additional 2,992,193 shares in the last quarter. Egerton Capital UK LLP raised its stake in Activision by 22.0% in the fourth quarter. Egerton Capital UK LLP now owns 11,051,017 shares of the company’s stock valued at $699,750,000 after buying an additional 1,991,213 shares in the last quarter. Bank of New York Mellon Corp raised its stake in Activision by 7.4% in the fourth quarter. Bank of New York Mellon Corp now owns 8,026,958 shares of the company’s stock valued at $508,266,000 after buying an additional 550,833 shares in the last quarter. Geode Capital Management LLC raised its stake in Activision by 3.3% in the fourth quarter. Geode Capital Management LLC now owns 7,790,249 shares of the company’s stock valued at $492,227,000 after buying an additional 252,340 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA raised its stake in Activision by 3.2% in the first quarter. Massachusetts Financial Services Co. MA now owns 6,762,476 shares of the company’s stock valued at $456,197,000 after buying an additional 212,792 shares in the last quarter. Institutional investors and hedge funds own 85.92% of the company’s stock.

In other news, CEO Riccardo Zacconi sold 19,761 shares of Activision stock in a transaction that occurred on Thursday, May 17th. The shares were sold at an average price of $70.49, for a total transaction of $1,392,952.89. Following the completion of the sale, the chief executive officer now directly owns 27,361 shares in the company, valued at approximately $1,928,676.89. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Dennis M. Durkin sold 21,488 shares of Activision stock in a transaction that occurred on Monday, March 12th. The shares were sold at an average price of $77.18, for a total transaction of $1,658,443.84. Following the sale, the insider now owns 151,314 shares of the company’s stock, valued at $11,678,414.52. The disclosure for this sale can be found here. In the last 90 days, insiders sold 1,933,258 shares of company stock valued at $137,287,774. 2.12% of the stock is owned by insiders.

Shares of NASDAQ:ATVI opened at $71.74 on Thursday. The company has a debt-to-equity ratio of 0.45, a current ratio of 2.19 and a quick ratio of 2.18. The stock has a market capitalization of $54.31 billion, a P/E ratio of 35.00, a PEG ratio of 1.93 and a beta of 1.17. Activision has a 52 week low of $55.41 and a 52 week high of $79.63.

Activision (NASDAQ:ATVI) last announced its quarterly earnings data on Thursday, May 3rd. The company reported $0.34 EPS for the quarter, beating the Zacks’ consensus estimate of $0.29 by $0.05. The firm had revenue of $1.38 billion during the quarter, compared to the consensus estimate of $1.32 billion. Activision had a net margin of 4.78% and a return on equity of 17.91%. The firm’s revenue was up 15.0% compared to the same quarter last year. During the same quarter last year, the firm earned $0.56 earnings per share. sell-side analysts anticipate that Activision will post 2.5 earnings per share for the current fiscal year.

A number of analysts have weighed in on the company. Vetr cut Activision from a “strong-buy” rating to a “buy” rating and set a $83.48 price target on the stock. in a research note on Monday, March 12th. Citigroup restated a “positive” rating and issued a $87.00 price target (up from $78.00) on shares of Activision in a research note on Monday, March 12th. Zacks Investment Research upgraded Activision from a “hold” rating to a “buy” rating and set a $86.00 price target on the stock in a research note on Tuesday, March 13th. Stifel Nicolaus reaffirmed a “buy” rating and set a $77.00 price objective on shares of Activision in a report on Thursday, February 1st. Finally, BidaskClub raised Activision from a “buy” rating to a “strong-buy” rating in a report on Thursday, March 1st. Seven investment analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and one has given a strong buy rating to the company. The company presently has an average rating of “Buy” and a consensus price target of $75.41.

About Activision

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. The company 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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Institutional Ownership by Quarter for Activision (NASDAQ:ATVI)

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