Activision Blizzard Inc. (NASDAQ:ATVI) traded up 1.4% on Wednesday . The company traded as high as $39.93 and last traded at $39.87, with a volume of 5,411,424 shares trading hands. The stock had previously closed at $39.31.

A number of equities research analysts recently weighed in on the company. BMO Capital Markets reaffirmed a “market perform” rating and set a $38.00 price target on shares of Activision Blizzard in a report on Wednesday, August 10th. Zacks Investment Research raised Activision Blizzard from a “hold” rating to a “buy” rating and set a $46.00 target price for the company in a research note on Wednesday, August 10th. Benchmark Co. reissued a “buy” rating on shares of Activision Blizzard in a research note on Wednesday, August 10th. Stifel Nicolaus lifted their target price on Activision Blizzard from $45.00 to $46.00 and gave the company a “buy” rating in a research note on Monday, August 8th. Finally, Robert W. Baird reissued an “outperform” rating and issued a $46.00 target price (up from $43.00) on shares of Activision Blizzard in a research note on Sunday, August 7th. Four analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus target price of $43.27.

The stock’s 50 day moving average price is $40.82 and its 200-day moving average price is $36.16. The company has a market cap of $29.57 billion and a price-to-earnings ratio of 40.16.

Activision Blizzard (NASDAQ:ATVI) last posted its quarterly earnings data on Thursday, August 4th. The company reported $0.45 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.42 by $0.03. During the same quarter in the previous year, the company earned $0.13 earnings per share. The company earned $1.57 billion during the quarter, compared to analyst estimates of $1.44 billion. The business’s revenue for the quarter was up 112.0% on a year-over-year basis. On average, analysts expect that Activision Blizzard Inc. will post $1.97 EPS for the current year.

In related news, insider Stephen G. Wereb sold 71,775 shares of the stock in a transaction on 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 sale, the insider now directly owns 70,959 shares in the company, valued at $2,665,220.04. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Michael Morhaime sold 1,150,000 shares of the stock in a transaction on Tuesday, June 14th. The shares were sold at an average price of $38.15, for a total value of $43,872,500.00. Following the completion of the sale, the chief executive officer now owns 370,065 shares of the company’s stock, valued at $14,117,979.75. The disclosure for this sale can be found here.

A number of hedge funds recently bought and sold shares of ATVI. Suntrust Banks Inc. acquired a new stake in shares of Activision Blizzard during the fourth quarter worth $1,516,000. BNP Paribas Arbitrage SA increased its stake in shares of Activision Blizzard by 324.9% in the fourth quarter. BNP Paribas Arbitrage SA now owns 397,747 shares of the company’s stock worth $15,397,000 after buying an additional 304,148 shares during the last quarter. KBC Group NV increased its stake in shares of Activision Blizzard by 16.0% in the fourth quarter. KBC Group NV now owns 440,260 shares of the company’s stock worth $17,043,000 after buying an additional 60,660 shares during the last quarter. State of Tennessee Treasury Department increased its stake in shares of 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. Finally, Wells Fargo & Company MN increased 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 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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