Benchmark downgraded shares of Activision Blizzard (NASDAQ:ATVI – Free Report) from a buy rating to a hold rating in a report issued on Wednesday morning, MarketBeat.com reports. They currently have $90.00 target price on the stock.
ATVI has been the subject of a number of other research reports. Moffett Nathanson downgraded shares of Activision Blizzard from an outperform rating to a market perform rating and boosted their price objective for the stock from $91.00 to $95.00 in a research note on Wednesday. Robert W. Baird reduced their price objective on shares of Activision Blizzard from $95.00 to $90.00 in a research note on Thursday, April 27th. Stifel Nicolaus downgraded shares of Activision Blizzard from a buy rating to a hold rating and boosted their price objective for the stock from $88.00 to $95.00 in a research note on Wednesday. Raymond James downgraded shares of Activision Blizzard to a market perform rating in a research note on Tuesday. Finally, Truist Financial upped their price target on Activision Blizzard from $81.00 to $84.00 in a research report on Wednesday, April 26th. Six research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to MarketBeat, Activision Blizzard presently has an average rating of Moderate Buy and an average price target of $92.33.
Activision Blizzard Stock Performance
Activision Blizzard stock opened at $90.00 on Wednesday. The company has a 50 day moving average price of $80.56 and a 200-day moving average price of $79.50. The company has a debt-to-equity ratio of 0.18, a quick ratio of 5.15 and a current ratio of 5.15. Activision Blizzard has a fifty-two week low of $70.94 and a fifty-two week high of $92.91. The company has a market capitalization of $70.59 billion, a PE ratio of 38.30, a P/E/G ratio of 2.45 and a beta of 0.42.
Insider Transactions at Activision Blizzard
In other news, Director Peter J. Nolan bought 13,160 shares of the stock in a transaction dated Wednesday, May 3rd. The shares were acquired at an average cost of $75.99 per share, with a total value of $1,000,028.40. Following the purchase, the director now directly owns 174,777 shares in the company, valued at approximately $13,281,304.23. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Corporate insiders own 1.08% of the company’s stock.
Institutional Investors Weigh In On Activision Blizzard
Hedge funds have recently modified their holdings of the company. Quilter Plc purchased a new stake in shares of Activision Blizzard during the 1st quarter worth about $203,565,000. Migdal Insurance & Financial Holdings Ltd. raised its position in shares of Activision Blizzard by 186.4% during the 1st quarter. Migdal Insurance & Financial Holdings Ltd. now owns 338 shares of the company’s stock worth $29,000 after purchasing an additional 220 shares during the last quarter. Front Row Advisors LLC raised its position in shares of Activision Blizzard by 140.4% during the 1st quarter. Front Row Advisors LLC now owns 351 shares of the company’s stock worth $30,000 after purchasing an additional 205 shares during the last quarter. Pin Oak Investment Advisors Inc. acquired a new position in shares of Activision Blizzard during the 1st quarter worth about $35,000. Finally, Ameritas Advisory Services LLC acquired a new position in shares of Activision Blizzard during the 1st quarter worth about $38,000. 80.86% of the stock is owned by hedge funds and other institutional investors.
About Activision Blizzard
Activision Blizzard, Inc, together with its subsidiaries, develops and publishes interactive entertainment content and services in the Americas, Europe, the Middle East, Africa, and the Asia Pacific. The company operates through three segments: Activision, Blizzard, and King. It develops and distributes content and services on video game consoles, personal computers, and mobile devices, including subscription, full-game, and in-game sales, as well as by licensing software to third-party or related-party companies that distribute Activision and Blizzard products.
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