Investors Sell Shares of Activision Blizzard (ATVI) on Strength (ATVI)

Traders sold shares of Activision Blizzard, Inc. (NASDAQ:ATVI) on strength during trading hours on Friday. $53.78 million flowed into the stock on the tick-up and $80.58 million flowed out of the stock on the tick-down, for a money net flow of $26.80 million out of the stock. Of all equities tracked, Activision Blizzard had the 0th highest net out-flow for the day. Activision Blizzard traded up $0.11 for the day and closed at $70.61

A number of equities research analysts recently weighed in on the company. Wedbush set a $81.00 price objective on Activision Blizzard and gave the stock a “buy” rating in a research report on Sunday, May 6th. Bank of America reduced their price objective on Activision Blizzard from $77.00 to $76.00 and set a “buy” rating on the stock in a research report on Friday, May 4th. BidaskClub upgraded Activision Blizzard from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, June 13th. Piper Jaffray Companies boosted their price objective on Activision Blizzard to $84.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 25th. Finally, TheStreet upgraded Activision Blizzard from a “c+” rating to a “b” rating in a research report on Thursday, May 3rd. One analyst has rated the stock with a sell rating, seven have issued a hold rating, nineteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. Activision Blizzard has a consensus rating of “Buy” and a consensus price target of $78.51.

The company has a market cap of $53.75 billion, a PE ratio of 34.44, a PEG ratio of 1.86 and a beta of 0.97. The company has a debt-to-equity ratio of 0.42, a current ratio of 2.98 and a quick ratio of 2.96.

Activision Blizzard (NASDAQ:ATVI) last announced its quarterly earnings data on Thursday, August 2nd. The company reported $0.41 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.30 by $0.11. The company had revenue of $1.39 billion for the quarter, compared to the consensus estimate of $1.38 billion. Activision Blizzard had a return on equity of 18.00% and a net margin of 6.96%. The firm’s revenue was down 2.3% compared to the same quarter last year. During the same period in the previous year, the business earned $0.32 EPS. equities research analysts anticipate that Activision Blizzard, Inc. will post 2.49 EPS for the current year.

In other Activision Blizzard news, CEO Riccardo Zacconi sold 19,761 shares of the stock in a transaction on Thursday, May 17th. The stock was sold at an average price of $70.49, for a total transaction of $1,392,952.89. Following the sale, the chief executive officer now owns 27,361 shares in the company, valued at $1,928,676.89. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 1.29% of the stock is currently owned by corporate insiders.

Several hedge funds have recently modified their holdings of ATVI. Signaturefd LLC bought a new stake in shares of Activision Blizzard during the 1st quarter valued at $114,000. Quad Cities Investment Group LLC bought a new stake in shares of Activision Blizzard during the 2nd quarter valued at $114,000. NuWave Investment Management LLC bought a new stake in shares of Activision Blizzard during the 2nd quarter valued at $121,000. Kaizen Advisory LLC grew its position in shares of Activision Blizzard by 155.2% during the 2nd quarter. Kaizen Advisory LLC now owns 1,876 shares of the company’s stock valued at $143,000 after acquiring an additional 1,141 shares during the period. Finally, Acadian Asset Management LLC bought a new stake in shares of Activision Blizzard during the 2nd quarter valued at $156,000. Institutional investors own 85.94% of the company’s stock.

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. 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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