Investors purchased shares of Activision Blizzard Inc. (NASDAQ:ATVI) on weakness during trading hours on Thursday. $66.37 million flowed into the stock on the tick-up and $48.26 million flowed out of the stock on the tick-down, for a money net flow of $18.11 million into the stock. Of all equities tracked, Activision Blizzard had the 16th highest net in-flow for the day. Activision Blizzard traded down ($0.26) for the day and closed at $41.85

ATVI has been the subject of several research analyst reports. Stifel Nicolaus reiterated a “buy” rating and set a $35.00 target price on shares of Activision Blizzard in a research report on Tuesday. Jefferies Group reiterated a “buy” rating on shares of Activision Blizzard in a research report on Monday. Vetr lowered shares of Activision Blizzard from a “buy” rating to a “hold” rating and set a $41.75 target price for the company. in a research report on Tuesday, July 5th. Wedbush reiterated an “outperform” rating and set a $43.00 target price on shares of Activision Blizzard in a research report on Wednesday, July 6th. Finally, Robert W. Baird reiterated an “outperform” rating on shares of Activision Blizzard in a research report on Thursday, June 30th. Four investment analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company. Activision Blizzard has a consensus rating of “Buy” and an average price target of $40.11.

The stock’s 50-day moving average price is $39.06 and its 200 day moving average price is $35.35. The company has a market cap of $30.89 billion and a price-to-earnings ratio of 37.57.

Activision Blizzard (NASDAQ:ATVI) last posted its earnings results on Thursday, May 5th. The company reported $0.23 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.12 by $0.11. The company earned $908 million during the quarter, compared to analysts’ expectations of $812.14 million. During the same quarter last year, the firm earned $0.16 EPS. Activision Blizzard’s revenue for the quarter was up 29.2% on a year-over-year basis. On average, analysts predict that Activision Blizzard Inc. will post $1.86 earnings per share for the current year.

In other Activision Blizzard news, insider Stephen G. Wereb sold 71,775 shares of Activision Blizzard 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 transaction, the insider now owns 70,959 shares in the company, valued at $2,665,220.04. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Thomas Tippl sold 300,000 shares of Activision Blizzard stock in a transaction dated Monday, May 16th. The shares were sold at an average price of $39.08, for a total value of $11,724,000.00. The disclosure for this sale can be found here.

A number of institutional investors recently bought and sold shares of ATVI. State of Tennessee Treasury Department raised its position in Activision Blizzard by 620.5% in the fourth quarter. State of Tennessee Treasury Department now owns 555,509 shares of the company’s stock valued at $21,504,000 after buying an additional 478,409 shares during the period. BNP Paribas Arbitrage SA raised its position in Activision Blizzard by 324.9% in the fourth quarter. BNP Paribas Arbitrage SA now owns 397,747 shares of the company’s stock valued at $15,397,000 after buying an additional 304,148 shares during the period. WBI Investments Inc. bought a new position in Activision Blizzard during the fourth quarter valued at about $4,488,000. Egerton Capital UK LLP raised its position in Activision Blizzard by 22.8% in the fourth quarter. Egerton Capital UK LLP now owns 12,529,425 shares of the company’s stock valued at $485,014,000 after buying an additional 2,323,012 shares during the period. Finally, Navellier & Associates Inc bought a new position in Activision Blizzard during the fourth quarter valued at about $15,342,000.

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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