Investors purchased shares of Activision Blizzard Inc. (NASDAQ:ATVI) on weakness during trading hours on Wednesday. $84.48 million flowed into the stock on the tick-up and $58.24 million flowed out of the stock on the tick-down, for a money net flow of $26.24 million into the stock. Of all equities tracked, Activision Blizzard had the 20th highest net in-flow for the day. Activision Blizzard traded down ($0.55) for the day and closed at $42.11

A number of equities analysts have recently weighed in on the company. Macquarie reiterated an “outperform” rating and issued a $40.00 target price (up previously from $36.00) on shares of Activision Blizzard in a report on Thursday, May 26th. Stifel Nicolaus reiterated a “buy” rating and issued a $40.00 target price (up previously from $35.00) on shares of Activision Blizzard in a report on Wednesday, April 13th. Zacks Investment Research downgraded Activision Blizzard from a “strong-buy” rating to a “hold” rating in a report on Wednesday, April 13th. MKM Partners upped their target price on Activision Blizzard from $34.00 to $38.00 and gave the company a “buy” rating in a report on Tuesday, May 3rd. Finally, Cowen and Company reiterated a “buy” rating on shares of Activision Blizzard in a report on Saturday, June 4th. Four research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company’s stock. Activision Blizzard currently has an average rating of “Buy” and a consensus price target of $40.11.

The stock has a market capitalization of $31.09 billion and a price-to-earnings ratio of 37.80. The company’s 50-day moving average price is $38.97 and its 200 day moving average price is $35.30.

Activision Blizzard (NASDAQ:ATVI) last posted its quarterly earnings results on Thursday, May 5th. The company reported $0.23 EPS for the quarter, topping analysts’ consensus estimates of $0.12 by $0.11. During the same period last year, the firm posted $0.16 EPS. The business had revenue of $908 million for the quarter, compared to analyst estimates of $812.14 million. Activision Blizzard’s quarterly revenue was up 29.2% on a year-over-year basis. Equities research analysts predict that Activision Blizzard Inc. will post $1.86 EPS for the current fiscal year.

In other Activision Blizzard news, CEO Michael Morhaime sold 1,150,000 shares of the company’s stock in a transaction dated Tuesday, June 14th. The stock was sold at an average price of $38.15, for a total value of $43,872,500.00. Following the completion of the transaction, the chief executive officer now owns 370,065 shares of the company’s stock, valued at approximately $14,117,979.75. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Stephen G. Wereb sold 71,775 shares of the company’s stock in a transaction dated Friday, May 20th. The stock was sold at an average price of $37.56, for a total value of $2,695,869.00. Following the completion of the transaction, the insider now directly owns 70,959 shares of the company’s stock, valued at approximately $2,665,220.04. The disclosure for this sale can be found here.

Other institutional investors have recently modified their holdings of the company. Mutual of America Capital Management LLC boosted its position in shares of Activision Blizzard by 0.7% in the fourth quarter. Mutual of America Capital Management LLC now owns 56,443 shares of the company’s stock worth $2,185,000 after buying an additional 391 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its position in shares of Activision Blizzard by 2.0% in the fourth quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 32,963 shares of the company’s stock worth $1,276,000 after buying an additional 644 shares during the last quarter. Tredje AP fonden boosted its position in shares of Activision Blizzard by 2.0% in the fourth quarter. Tredje AP fonden now owns 34,513 shares of the company’s stock worth $1,336,000 after buying an additional 672 shares during the last quarter. Advantus Capital Management Inc boosted its position in shares of Activision Blizzard by 3.8% in the fourth quarter. Advantus Capital Management Inc now owns 49,007 shares of the company’s stock worth $1,897,000 after buying an additional 1,810 shares during the last quarter. Finally, Comerica Bank boosted its position in shares of Activision Blizzard by 1.8% in the fourth quarter. Comerica Bank now owns 137,720 shares of the company’s stock worth $4,918,000 after buying an additional 2,463 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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