Investors purchased shares of Activision Blizzard, Inc (NASDAQ:ATVI) on weakness during trading on Wednesday. $6.04 million flowed into the stock on the tick-up and $2.03 million flowed out of the stock on the tick-down, for a money net flow of $4.01 million into the stock. Of all equities tracked, Activision Blizzard had the 18th highest net in-flow for the day. Activision Blizzard traded down ($0.20) for the day and closed at $64.85

Several equities analysts have recently weighed in on ATVI shares. Vetr cut shares of Activision Blizzard from a “strong-buy” rating to a “buy” rating and set a $64.63 price objective on the stock. in a research note on Wednesday, June 14th. Jefferies Group LLC reiterated a “buy” rating and issued a $68.00 price objective on shares of Activision Blizzard in a research note on Thursday, June 8th. Stifel Nicolaus increased their price objective on shares of Activision Blizzard from $59.00 to $60.00 and gave the stock a “buy” rating in a research note on Monday, May 15th. Argus increased their price objective on shares of Activision Blizzard from $53.00 to $65.00 and gave the stock a “buy” rating in a research note on Monday, May 22nd. Finally, Benchmark Co. increased their price objective on shares of Activision Blizzard from $60.00 to $71.00 and gave the stock a “buy” rating in a research note on Wednesday, June 21st. Two research analysts have rated the stock with a sell rating, one has given a hold rating, twenty-three have issued a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus price target of $62.34.

The stock has a 50 day moving average of $62.40 and a 200-day moving average of $55.80. The stock has a market capitalization of $48.31 billion, a P/E ratio of 43.21 and a beta of 1.08.

In other news, insider Dennis M. Durkin sold 160,000 shares of the company’s stock in a transaction that occurred on Friday, August 11th. The stock was sold at an average price of $60.68, for a total transaction of $9,708,800.00. Following the completion of the transaction, the insider now directly owns 337,534 shares of the company’s stock, valued at approximately $20,481,563.12. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CEO Riccardo Zacconi sold 19,761 shares of the company’s stock in a transaction that occurred on Friday, August 18th. The stock was sold at an average price of $61.32, for a total value of $1,211,744.52. Following the transaction, the chief executive officer now directly owns 48,472 shares of the company’s stock, valued at $2,972,303.04. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 4,074,879 shares of company stock valued at $252,196,001. Corporate insiders own 2.12% of the company’s stock.

Hedge funds have recently made changes to their positions in the company. Guardian Life Insurance Co. of America raised its stake in shares of Activision Blizzard by 1.9% during the 1st quarter. Guardian Life Insurance Co. of America now owns 2,671 shares of the company’s stock worth $133,000 after buying an additional 51 shares during the period. Shine Investment Advisory Services Inc. acquired a new position in shares of Activision Blizzard during the 2nd quarter worth approximately $142,000. Huntington National Bank raised its stake in shares of Activision Blizzard by 122.6% during the 2nd quarter. Huntington National Bank now owns 2,480 shares of the company’s stock worth $143,000 after buying an additional 1,366 shares during the period. Bronfman E.L. Rothschild L.P. raised its stake in shares of Activision Blizzard by 16.2% during the 2nd quarter. Bronfman E.L. Rothschild L.P. now owns 2,606 shares of the company’s stock worth $150,000 after buying an additional 363 shares during the period. Finally, Benjamin F. Edwards & Company Inc. raised its stake in shares of Activision Blizzard by 504.6% during the 1st quarter. Benjamin F. Edwards & Company Inc. now owns 3,023 shares of the company’s stock worth $151,000 after buying an additional 2,523 shares during the period. 86.33% of the stock is owned by institutional investors and hedge funds.

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About Activision Blizzard

Activision Blizzard, Inc is a developer and publisher of interactive entertainment content and services. The Company develops and distributes content and services across various gaming platforms, including video game consoles, personal computers (PC) and mobile devices. Its segments include Activision Publishing, Inc (Activision), Blizzard Entertainment, Inc (Blizzard), King Digital Entertainment (King) and Other.

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