Activision Blizzard Inc. (NASDAQ:ATVI) shares reached a new 52-week high during mid-day trading on Thursday . The company traded as high as $40.77 and last traded at $40.23, with a volume of 3,249,938 shares changing hands. The stock had previously closed at $40.51.

A number of research analysts recently issued reports on ATVI shares. Piper Jaffray Cos. restated a “buy” rating and set a $39.00 target price on shares of Activision Blizzard in a research report on Thursday, March 31st. Vetr downgraded shares of Activision Blizzard from a “strong-buy” rating to a “buy” rating and set a $36.86 target price for the company. in a research report on Tuesday, March 29th. Stifel Nicolaus restated a “buy” rating and set a $40.00 target price (up from $35.00) on shares of Activision Blizzard in a research report on Wednesday, April 13th. Sterne Agee CRT restated a “buy” rating and set a $45.00 target price on shares of Activision Blizzard in a research report on Monday, March 14th. Finally, MKM Partners boosted their target price on shares of Activision Blizzard from $34.00 to $38.00 and gave the company a “buy” rating in a research report on Tuesday, May 3rd. Four research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus price target of $40.57.

The company has a 50-day moving average of $38.60 and a 200 day moving average of $35.23. The company has a market cap of $30.48 billion and a PE ratio of 37.06.

Activision Blizzard (NASDAQ:ATVI) last announced its quarterly earnings data on Thursday, May 5th. The company reported $0.23 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.12 by $0.11. The company earned $908 million during the quarter, compared to analyst estimates of $812.14 million. The firm’s revenue for the quarter was up 29.2% on a year-over-year basis. During the same quarter last year, the business earned $0.16 EPS. Equities research analysts anticipate that Activision Blizzard Inc. will post $1.86 earnings per share for the current year.

In related news, insider Stephen G. Wereb sold 71,775 shares of the firm’s stock in a transaction dated Friday, May 20th. The shares were sold at an average price of $37.56, for a total value of $2,695,869.00. Following the completion of the sale, the insider now owns 70,959 shares in the company, valued at $2,665,220.04. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Thomas Tippl sold 300,000 shares of the firm’s stock in a transaction dated Monday, May 16th. The shares were sold at an average price of $39.08, for a total transaction of $11,724,000.00. The disclosure for this sale can be found here.

Several hedge funds recently made changes to their positions in the stock. Vanguard Group Inc. boosted its stake in shares of Activision Blizzard by 5.1% in the fourth quarter. Vanguard Group Inc. now owns 29,617,952 shares of the company’s stock valued at $1,146,510,000 after buying an additional 1,424,017 shares during the period. Egerton Capital UK LLP boosted its position in shares of Activision Blizzard by 22.8% in the fourth quarter. Egerton Capital UK LLP now owns 12,529,425 shares of the company’s stock worth $485,014,000 after buying an additional 2,323,012 shares during the last quarter. OppenheimerFunds Inc. boosted its position in shares of Activision Blizzard by 33.2% in the fourth quarter. OppenheimerFunds Inc. now owns 6,418,376 shares of the company’s stock worth $248,460,000 after buying an additional 1,599,381 shares during the last quarter. State of New Jersey Common Pension Fund D boosted its position in shares of Activision Blizzard by 50.0% in the fourth quarter. State of New Jersey Common Pension Fund D now owns 900,000 shares of the company’s stock worth $34,839,000 after buying an additional 300,000 shares during the last quarter. Finally, Principal Financial Group Inc. boosted its position in shares of Activision Blizzard by 3.5% in the fourth quarter. Principal Financial Group Inc. now owns 803,188 shares of the company’s stock worth $31,091,000 after buying an additional 26,888 shares during the last quarter.

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.

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