Shares of Activision Blizzard Inc. (NASDAQ:ATVI) traded up 1.4% during mid-day trading 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 analysts have issued reports on the stock. Pacific Crest reiterated a “buy” rating on shares of Activision Blizzard in a research note on Sunday, June 26th. Barclays PLC reiterated a “buy” rating on shares of Activision Blizzard in a research note on Sunday, May 8th. Jefferies Group reiterated a “buy” rating and issued a $45.00 target price on shares of Activision Blizzard in a research note on Sunday, May 22nd. Vetr cut shares of Activision Blizzard from a “buy” rating to a “hold” rating and set a $40.36 target price for the company. in a research note on Tuesday, May 24th. Finally, Cowen and Company reiterated a “buy” rating on shares of Activision Blizzard in a research note on Saturday, June 4th. Four investment analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. The company has an average rating of “Buy” and an average price target of $43.27.

The company’s 50 day moving average is $40.95 and its 200 day moving average is $36.21. The stock has a market cap of $29.67 billion and a P/E ratio of 40.30.

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

In other Activision Blizzard news, CEO Michael Morhaime sold 1,150,000 shares of the firm’s stock in a transaction on Tuesday, June 14th. The stock was sold at an average price of $38.15, for a total transaction 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 approximately $14,117,979.75. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Robert A. Kotick sold 4,588,775 shares of the firm’s stock in a transaction on Monday, August 15th. The shares were sold at an average price of $40.51, for a total value of $185,891,275.25. Following the sale, the chief executive officer now directly owns 797,049 shares of the company’s stock, valued at approximately $32,288,454.99. The disclosure for this sale can be found here.

A number of large investors have made changes to their positions in the stock. Suntrust Banks Inc. acquired a new stake in shares of Activision Blizzard during the fourth quarter valued at about $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 valued at $15,397,000 after buying an additional 304,148 shares in 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 valued at $17,043,000 after buying an additional 60,660 shares in 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 valued at $21,504,000 after buying an additional 478,409 shares in 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 valued at $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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