Jefferies Group LLC Reiterates $55.00 Price Target for Activision Blizzard, Inc. (ATVI)
A number of other research analysts have also issued reports on the company. BMO Capital Markets reduced their price objective on Activision Blizzard from $42.00 to $40.00 and set a market perform rating for the company in a research report on Tuesday, November 22nd. Zacks Investment Research lowered Activision Blizzard from a buy rating to a hold rating in a research report on Monday, December 12th. Credit Suisse Group AG reduced their price objective on Activision Blizzard from $50.00 to $48.00 and set an outperform rating for the company in a research report on Tuesday, January 31st. Stifel Nicolaus reduced their price objective on Activision Blizzard from $46.00 to $45.00 and set a buy rating for the company in a research report on Wednesday, December 14th. Finally, Benchmark Co. boosted their price objective on Activision Blizzard from $50.87 to $53.90 and gave the company a buy rating in a research report on Friday, February 3rd. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has a consensus rating of Buy and a consensus price target of $49.53.
Activision Blizzard (NASDAQ:ATVI) opened at 48.96 on Thursday. The firm’s 50-day moving average is $45.01 and its 200 day moving average is $41.68. Activision Blizzard has a 12 month low of $31.71 and a 12 month high of $49.70. The firm has a market capitalization of $36.81 billion, a price-to-earnings ratio of 38.25 and a beta of 1.03.
Activision Blizzard (NASDAQ:ATVI) last released its quarterly earnings data on Thursday, February 9th. The company reported $0.92 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.73 by $0.19. Activision Blizzard had a return on equity of 16.70% and a net margin of 13.86%. The business earned $2.45 billion during the quarter, compared to analyst estimates of $2.39 billion. During the same quarter in the previous year, the firm posted $0.83 EPS. The business’s revenue for the quarter was up 81.2% compared to the same quarter last year. Equities analysts predict that Activision Blizzard will post $1.95 earnings per share for the current year.
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In related news, CEO Michael Morhaime sold 250,000 shares of the stock in a transaction that occurred on Friday, February 17th. The shares were sold at an average price of $45.22, for a total transaction of $11,305,000.00. Following the completion of the sale, the chief executive officer now directly owns 189,999 shares of the company’s stock, valued at $8,591,754.78. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Brian G. Kelly sold 5,037,998 shares of the stock in a transaction that occurred on Tuesday, February 14th. The shares were sold at an average price of $45.67, for a total transaction of $230,085,368.66. Following the sale, the director now directly owns 559,850 shares of the company’s stock, valued at $25,568,349.50. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 5,550,602 shares of company stock valued at $253,390,498. Company insiders own 25.23% of the company’s stock.
Hedge funds have recently added to or reduced their stakes in the stock. Atria Investments LLC acquired a new stake in Activision Blizzard during the third quarter valued at approximately $274,000. Fisher Asset Management LLC raised its stake in Activision Blizzard by 8.9% in the third quarter. Fisher Asset Management LLC now owns 6,287 shares of the company’s stock valued at $279,000 after buying an additional 512 shares in the last quarter. Oregon Public Employees Retirement Fund raised its stake in Activision Blizzard by 19.3% in the third quarter. Oregon Public Employees Retirement Fund now owns 148,269 shares of the company’s stock valued at $6,568,000 after buying an additional 24,025 shares in the last quarter. Addison Capital Co acquired a new stake in Activision Blizzard during the third quarter valued at approximately $510,000. Finally, Advisory Services Network LLC raised its stake in Activision Blizzard by 24.0% in the third quarter. Advisory Services Network LLC now owns 3,669 shares of the company’s stock valued at $163,000 after buying an additional 711 shares in the last quarter. 86.29% of the stock is owned by institutional investors and hedge funds.
Activision Blizzard Company Profile
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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