Activision Blizzard Inc. (NASDAQ:ATVI)’s share price dropped 1.6% during trading on Tuesday . The company traded as low as $41.19 and last traded at $41.71, with a volume of 4,879,911 shares changing hands. The stock had previously closed at $42.40.

ATVI has been the subject of a number of research analyst reports. Vetr raised Activision Blizzard from a “buy” rating to a “strong-buy” rating and set a $36.74 target price for the company in a report on Monday, March 28th. Piper Jaffray Cos. reissued a “buy” rating and set a $39.00 target price on shares of Activision Blizzard in a report on Thursday, March 31st. Stifel Nicolaus reissued a “buy” rating and set 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 cut Activision Blizzard from a “strong-buy” rating to a “hold” rating in a report on Wednesday, April 13th. Finally, BMO Capital Markets initiated coverage on Activision Blizzard in a report on Tuesday, April 26th. They set a “market perform” rating for the company. Four equities 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 an average price target of $40.43.

The stock’s 50 day moving average is $39.75 and its 200 day moving average is $35.56. The company has a market cap of $30.68 billion and a price-to-earnings ratio of 37.31.

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 analysts’ consensus estimates of $0.12 by $0.11. The firm earned $908 million during the quarter, compared to analyst estimates of $812.14 million. The business’s quarterly revenue was up 29.2% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.16 earnings per share. On average, equities analysts anticipate that Activision Blizzard Inc. will post $1.86 EPS for the current year.

In related news, COO Thomas Tippl sold 300,000 shares of the firm’s stock in a transaction on Monday, May 16th. The shares were sold at an average price of $39.08, for a total value of $11,724,000.00. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Michael Morhaime sold 1,150,000 shares of the firm’s stock in a transaction on Tuesday, June 14th. The shares were sold at an average price of $38.15, for a total transaction of $43,872,500.00. Following the completion of the transaction, the chief executive officer now owns 370,065 shares in the company, valued at $14,117,979.75. The disclosure for this sale can be found here.

A number of hedge funds and institutional investors have recently bought and sold shares of ATVI. 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 worth $485,014,000 after buying an additional 2,323,012 shares during the last quarter. Vanguard Group Inc. raised its position in Activision Blizzard by 5.1% in the fourth quarter. Vanguard Group Inc. now owns 29,617,952 shares of the company’s stock worth $1,146,510,000 after buying an additional 1,424,017 shares during the last quarter. BlackRock Advisors LLC raised its position in Activision Blizzard by 14.6% in the fourth quarter. BlackRock Advisors LLC now owns 6,654,568 shares of the company’s stock worth $257,598,000 after buying an additional 849,633 shares during the last quarter. BBR Partners LLC purchased a new position in Activision Blizzard during the fourth quarter worth about $25,308,000. Finally, 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 worth $21,504,000 after buying an additional 478,409 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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