Activision Blizzard, Inc. (NASDAQ:ATVI) insider Brian M. Stolz sold 134,845 shares of the company’s stock in a transaction dated Tuesday, August 13th. The shares were sold at an average price of $47.80, for a total transaction of $6,445,591.00. Following the completion of the sale, the insider now directly owns 58,563 shares in the company, valued at approximately $2,799,311.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.
ATVI stock traded up $0.25 on Thursday, hitting $45.51. 5,581,704 shares of the company were exchanged, compared to its average volume of 9,476,883. Activision Blizzard, Inc. has a twelve month low of $39.85 and a twelve month high of $84.68. The company has a debt-to-equity ratio of 0.23, a current ratio of 2.63 and a quick ratio of 2.61. The business’s fifty day moving average is $47.38 and its two-hundred day moving average is $45.68. The stock has a market capitalization of $36.11 billion, a price-to-earnings ratio of 19.04, a price-to-earnings-growth ratio of 2.06 and a beta of 0.90.
Activision Blizzard (NASDAQ:ATVI) last issued its quarterly earnings results on Thursday, August 8th. The company reported $0.34 EPS for the quarter, topping the consensus estimate of $0.20 by $0.14. Activision Blizzard had a net margin of 23.69% and a return on equity of 15.81%. The firm had revenue of $1.21 billion during the quarter, compared to analyst estimates of $1.19 billion. During the same quarter in the prior year, the business posted $0.41 earnings per share. Activision Blizzard’s revenue for the quarter was down 12.9% compared to the same quarter last year. Equities research analysts expect that Activision Blizzard, Inc. will post 2.01 earnings per share for the current year.
Hedge funds have recently modified their holdings of the stock. Massey Quick Simon & CO. LLC acquired a new stake in shares of Activision Blizzard in the first quarter worth $25,000. Capital Investment Advisory Services LLC increased its position in shares of Activision Blizzard by 189.5% in the second quarter. Capital Investment Advisory Services LLC now owns 553 shares of the company’s stock worth $25,000 after acquiring an additional 362 shares in the last quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC acquired a new stake in shares of Activision Blizzard in the first quarter worth $27,000. Redhawk Wealth Advisors Inc. acquired a new stake in shares of Activision Blizzard in the second quarter worth $29,000. Finally, Freestone Capital Holdings LLC acquired a new stake in shares of Activision Blizzard in the second quarter worth $18,898,000. 86.34% of the stock is owned by hedge funds and other institutional investors.
ATVI has been the topic of several recent research reports. Citigroup initiated coverage on shares of Activision Blizzard in a report on Friday, June 7th. They issued a “neutral” rating and a $47.00 price target on the stock. Bank of America upped their price objective on shares of Activision Blizzard from $56.00 to $57.00 and gave the company a “buy” rating in a research note on Friday, August 9th. BMO Capital Markets upped their price objective on shares of Activision Blizzard from $40.00 to $43.00 and gave the company a “market perform” rating in a research note on Wednesday. Nomura started coverage on shares of Activision Blizzard in a research note on Thursday, June 6th. They set a “neutral” rating and a $49.00 price objective on the stock. Finally, ValuEngine raised shares of Activision Blizzard from a “hold” rating to a “buy” rating in a research note on Thursday, August 1st. Twelve analysts have rated the stock with a hold rating and twenty-three have given a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average target price of $59.68.
Activision Blizzard Company 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.
Further Reading: Depreciation
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