Gerber Kawasaki Wealth & Investment Management Acquires 6,508 Shares of Activision Blizzard Inc. (ATVI)
Gerber Kawasaki Wealth & Investment Management boosted its stake in shares of Activision Blizzard Inc. (NASDAQ:ATVI) by 6.0% during the second quarter, Holdings Channel reports. The fund owned 114,268 shares of the company’s stock after buying an additional 6,508 shares during the period. Activision Blizzard comprises approximately 2.9% of Gerber Kawasaki Wealth & Investment Management’s holdings, making the stock its 11th largest position. Gerber Kawasaki Wealth & Investment Management’s holdings in Activision Blizzard were worth $4,528,000 as of its most recent filing with the SEC.
Other large investors have also recently modified their holdings of the company. Calamos Advisors LLC bought a new stake in shares of Activision Blizzard during the second quarter valued at about $45,970,000. Moore Capital Management LP bought a new stake in shares of Activision Blizzard during the first quarter valued at about $24,196,000. Strs Ohio increased its stake in shares of Activision Blizzard by 27.7% in the second quarter. Strs Ohio now owns 1,971,849 shares of the company’s stock valued at $78,144,000 after buying an additional 427,232 shares in the last quarter. AXA increased its stake in shares of Activision Blizzard by 33.4% in the first quarter. AXA now owns 1,070,228 shares of the company’s stock valued at $36,217,000 after buying an additional 268,171 shares in the last quarter. Finally, HBK Investments L P increased its stake in shares of Activision Blizzard by 1,065.0% in the first quarter. HBK Investments L P now owns 208,534 shares of the company’s stock valued at $7,057,000 after buying an additional 190,634 shares in the last quarter. 83.74% of the stock is owned by hedge funds and other institutional investors.
Activision Blizzard Inc. (NASDAQ:ATVI) traded down 0.41% during midday trading on Monday, reaching $43.51. 3,653,996 shares of the company traded hands. The company has a market capitalization of $32.26 billion, a price-to-earnings ratio of 43.82 and a beta of 1.09. Activision Blizzard Inc. has a one year low of $26.49 and a one year high of $45.12. The stock’s 50 day moving average is $43.50 and its 200 day moving average is $39.51.
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 Thomson Reuters’ consensus estimate of $0.42 by $0.03. The business had revenue of $1.57 billion for the quarter, compared to the consensus estimate of $1.44 billion. Activision Blizzard had a net margin of 13.95% and a return on equity of 14.49%. The company’s revenue was up 112.0% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.13 earnings per share. On average, equities analysts anticipate that Activision Blizzard Inc. will post $1.99 earnings per share for the current year.
Several equities research analysts have recently issued reports on ATVI shares. Pacific Crest reissued a “buy” rating on shares of Activision Blizzard in a research report on Sunday, June 26th. Vetr raised shares of Activision Blizzard from a “buy” rating to a “strong-buy” rating and set a $41.75 price objective for the company in a research report on Tuesday, June 28th. Robert W. Baird reissued an “outperform” rating on shares of Activision Blizzard in a research report on Thursday, June 30th. Cowen and Company restated an “outperform” rating and set a $44.00 target price on shares of Activision Blizzard in a report on Friday, July 1st. Finally, Wedbush restated an “outperform” rating and set a $43.00 target price on shares of Activision Blizzard in a report on Wednesday, July 6th. Four equities research analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has issued a strong buy rating to the company. The stock has a consensus rating of “Buy” and an average price target of $45.30.
In other news, Director Brian G. Kelly sold 386,927 shares of the stock in a transaction dated Monday, August 15th. The shares were sold at an average price of $40.51, for a total value of $15,674,412.77. Following the sale, the director now directly owns 292,929 shares of the company’s stock, valued at $11,866,553.79. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, COO Thomas Tippl sold 44,427 shares of the stock in a transaction dated Monday, August 15th. The stock was sold at an average price of $41.83, for a total transaction of $1,858,381.41. The disclosure for this sale can be found here. 25.23% of the stock is currently owned by insiders.
About Activision Blizzard
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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