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

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

Activision Blizzard, Inc. (NASDAQ:ATVI) was downgraded by analysts at Vetr from a “strong-buy” rating to a “hold” rating in a report issued on Monday. They currently have a $47.83 price target on the stock. Vetr‘s price objective would suggest a potential downside of 2.63% from the company’s previous close.

A number of other brokerages also recently issued reports on ATVI. Oppenheimer Holdings Inc. reaffirmed an “outperform” rating and set a $53.00 price target on shares of Activision Blizzard in a research report on Friday, February 10th. Zacks Investment Research raised Activision Blizzard from a “hold” rating to a “strong-buy” rating and set a $52.00 price target on the stock in a research report on Wednesday, October 26th. Piper Jaffray Companies reaffirmed an “overweight” rating and set a $51.00 price target on shares of Activision Blizzard in a research report on Monday, October 24th. Wedbush upped their price target on Activision Blizzard from $48.00 to $53.00 and gave the stock an “outperform” rating in a research report on Friday, November 4th. Finally, Macquarie reaffirmed an “outperform” rating and set a $46.00 price target on shares of Activision Blizzard in a research report on Friday, November 4th. One research analyst has rated the stock with a sell rating, four have issued a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the company’s stock. Activision Blizzard currently has a consensus rating of “Buy” and a consensus price target of $49.63.

Activision Blizzard (NASDAQ:ATVI) traded up 0.70% during trading on Monday, reaching $49.12. The company had a trading volume of 5,562,787 shares. The firm has a market capitalization of $36.93 billion, a P/E ratio of 38.38 and a beta of 1.03. The stock has a 50 day moving average price of $46.25 and a 200 day moving average price of $41.93. Activision Blizzard has a 52 week low of $31.71 and a 52 week high of $49.70.

Activision Blizzard (NASDAQ:ATVI) last issued its quarterly earnings results on Thursday, February 9th. The company reported $0.92 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.73 by $0.19. The business had revenue of $2.45 billion for the quarter, compared to the consensus estimate of $2.39 billion. Activision Blizzard had a return on equity of 16.70% and a net margin of 13.86%. The business’s quarterly revenue was up 81.2% on a year-over-year basis. During the same period in the prior year, the firm posted $0.83 earnings per share. Analysts predict that Activision Blizzard will post $1.95 earnings per share for the current year.

In other news, CEO Michael Morhaime sold 250,000 shares of the stock in a transaction dated Friday, February 17th. The shares were sold at an average price of $45.22, for a total transaction of $11,305,000.00. Following the sale, the chief executive officer now directly owns 189,999 shares of the company’s stock, valued at approximately $8,591,754.78. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Robert J. Morgado sold 242,843 shares of the stock in a transaction dated Monday, February 13th. The stock was sold at an average price of $45.72, for a total transaction of $11,102,781.96. Following the sale, the director now directly owns 279,783 shares in the company, valued at $12,791,678.76. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 5,550,602 shares of company stock worth $253,390,498. 25.23% of the stock is owned by corporate insiders.

Several large investors have recently bought and sold shares of ATVI. Physicians Financial Services Inc. raised its stake in Activision Blizzard by 21.7% in the third quarter. Physicians Financial Services Inc. now owns 2,808 shares of the company’s stock valued at $124,000 after buying an additional 500 shares during the last quarter. Advisory Services Network LLC raised its stake in Activision Blizzard by 24.0% in the third quarter. Advisory Services Network LLC now owns 3,669 shares of the company’s stock valued at $163,000 after buying an additional 711 shares during the last quarter. Synovus Financial Corp purchased a new stake in Activision Blizzard during the third quarter valued at about $163,000. Jaffetilchin Investment Partners LLC purchased a new stake in Activision Blizzard during the third quarter valued at about $210,000. Finally, Brown Advisory Inc. purchased a new stake in Activision Blizzard during the fourth quarter valued at about $210,000. 86.29% of the stock is currently owned by institutional investors and hedge funds.

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.

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

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