Investors purchased shares of Activision Blizzard Inc. (NASDAQ:ATVI) on weakness during trading on Friday. $165.00 million flowed into the stock on the tick-up and $130.13 million flowed out of the stock on the tick-down, for a money net flow of $34.87 million into the stock. Of all stocks tracked, Activision Blizzard had the 8th highest net in-flow for the day. Activision Blizzard traded down ($0.27) for the day and closed at $40.56

ATVI has been the subject of a number of research reports. MKM Partners upped their price objective on shares of Activision Blizzard from $34.00 to $38.00 and gave the company a “buy” rating in a research note on Tuesday, May 3rd. Jefferies Group reaffirmed a “buy” rating and issued a $45.00 price objective (up previously from $37.00) on shares of Activision Blizzard in a research note on Friday, May 6th. Benchmark Co. reaffirmed a “buy” rating and issued a $40.45 price objective (up previously from $37.63) on shares of Activision Blizzard in a research note on Friday, May 6th. Mizuho upped their price target on shares of Activision Blizzard from $35.00 to $42.00 and gave the company a “buy” rating in a report on Friday, May 6th. Finally, Vetr lowered shares of Activision Blizzard from a “strong-buy” rating to a “buy” rating and set a $39.06 price target for the company. in a report on Thursday, May 5th. Five investment analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average target price of $42.18.

The company’s 50 day moving average is $40.23 and its 200 day moving average is $35.83. The stock has a market cap of $29.94 billion and a P/E ratio of 36.41.

Activision Blizzard (NASDAQ:ATVI) last posted its quarterly earnings data on Thursday, August 4th. The company reported $0.45 EPS for the quarter, topping the consensus estimate of $0.42 by $0.03. During the same period in the previous year, the firm earned $0.13 earnings per share. The firm had revenue of $1.57 billion for the quarter, compared to analysts’ expectations of $1.44 billion. The firm’s quarterly revenue was up 112.0% compared to the same quarter last year. On average, analysts predict that Activision Blizzard Inc. will post $1.88 earnings per share for the current fiscal year.

In other news, insider Stephen G. Wereb sold 71,775 shares of the business’s stock in a transaction on Friday, May 20th. The shares were sold at an average price of $37.56, for a total transaction of $2,695,869.00. Following the completion of the sale, the insider now directly owns 70,959 shares of the company’s stock, valued at $2,665,220.04. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Michael Morhaime sold 163,400 shares of the business’s stock in a transaction on Monday, June 13th. The shares were sold at an average price of $37.77, for a total transaction of $6,171,618.00. Following the sale, the chief executive officer now directly owns 370,065 shares of the company’s stock, valued at $13,977,355.05. The disclosure for this sale can be found here.

Several hedge funds recently modified their holdings of the stock. Egerton Capital UK LLP raised its stake 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 in the last quarter. BlackRock Advisors LLC raised its stake in shares of 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 in the last quarter. BlackRock Investment Management LLC raised its stake in shares of Activision Blizzard by 179.7% in the fourth quarter. BlackRock Investment Management LLC now owns 4,555,254 shares of the company’s stock worth $176,334,000 after buying an additional 2,926,363 shares in the last quarter. Principal Financial Group Inc. raised its stake 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 in the last quarter. Finally, Wells Fargo & Company MN raised its stake in shares of Activision Blizzard by 29.0% in the fourth quarter. Wells Fargo & Company MN now owns 675,716 shares of the company’s stock worth $26,158,000 after buying an additional 151,970 shares in 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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