Activision Blizzard (NASDAQ:ATVI) Sees Unusually-High Trading Volume Following Analyst Upgrade

Activision Blizzard, Inc. (NASDAQ:ATVI – Get Free Report) saw unusually-high trading volume on Wednesday after Deutsche Bank Aktiengesellschaft raised their price target on the stock from $89.00 to $95.00. Approximately 9,582,239 shares changed hands during mid-day trading, an increase of 28% from the previous session’s volume of 7,514,020 shares.The stock last traded at $89.93 and had previously closed at $90.99.

A number of other equities research analysts have also weighed in on ATVI. BNP Paribas raised shares of Activision Blizzard from a “neutral” rating to an “outperform” rating in a report on Friday, April 28th. Citigroup raised their target price on Activision Blizzard from $88.00 to $91.00 and gave the company a “buy” rating in a research note on Sunday, March 26th. Robert W. Baird cut their price target on Activision Blizzard from $95.00 to $90.00 in a research note on Thursday, April 27th. BMO Capital Markets raised their price objective on Activision Blizzard from $95.00 to $100.00 in a research note on Thursday, April 27th. Finally, Stifel Nicolaus lowered Activision Blizzard from a “buy” rating to a “hold” rating and upped their target price for the company from $88.00 to $95.00 in a research report on Wednesday. Seven analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $93.19.

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Insider Activity

In related news, Director Peter J. Nolan bought 13,160 shares of the business’s stock in a transaction on Wednesday, May 3rd. The shares were bought at an average cost of $75.99 per share, for a total transaction of $1,000,028.40. Following the completion of the purchase, the director now owns 174,777 shares of the company’s stock, valued at approximately $13,281,304.23. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 1.08% of the company’s stock.

Institutional Investors Weigh In On Activision Blizzard

Hedge funds have recently made changes to their positions in the business. Fairfield Bush & CO. bought a new stake in shares of Activision Blizzard during the first quarter valued at about $41,000. American Century Companies Inc. lifted its stake in shares of Activision Blizzard by 3.3% in the 1st quarter. American Century Companies Inc. now owns 21,919 shares of the company’s stock worth $1,756,000 after acquiring an additional 702 shares during the period. Sei Investments Co. boosted its holdings in shares of Activision Blizzard by 8.9% in the first quarter. Sei Investments Co. now owns 61,175 shares of the company’s stock valued at $4,877,000 after acquiring an additional 5,014 shares in the last quarter. Sequoia Financial Advisors LLC boosted its holdings in shares of Activision Blizzard by 62.7% in the first quarter. Sequoia Financial Advisors LLC now owns 5,038 shares of the company’s stock valued at $404,000 after acquiring an additional 1,942 shares in the last quarter. Finally, Baird Financial Group Inc. increased its stake in shares of Activision Blizzard by 58.9% during the first quarter. Baird Financial Group Inc. now owns 122,289 shares of the company’s stock valued at $9,797,000 after acquiring an additional 45,326 shares during the period. Institutional investors own 80.86% of the company’s stock.

Activision Blizzard Price Performance

The company has a quick ratio of 5.15, a current ratio of 5.15 and a debt-to-equity ratio of 0.18. The stock has a market capitalization of $70.23 billion, a price-to-earnings ratio of 38.10, a P/E/G ratio of 2.70 and a beta of 0.42. The business has a 50-day simple moving average of $80.86 and a two-hundred day simple moving average of $79.57.

Activision Blizzard (NASDAQ:ATVI – Get Free Report) last released its quarterly earnings data on Wednesday, April 26th. The company reported $0.47 earnings per share for the quarter, hitting the consensus estimate of $0.47. Activision Blizzard had a return on equity of 12.97% and a net margin of 22.82%. The business had revenue of $1.86 billion during the quarter, compared to analyst estimates of $1.83 billion. As a group, research analysts predict that Activision Blizzard, Inc. will post 3.55 earnings per share for the current fiscal year.

Activision Blizzard Company Profile

(Get Free Report)

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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