Traders 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 stocks 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 issued reports on the company. Goldman Sachs Group, Inc. (The) assumed coverage on Activision Blizzard in a report on Friday. They issued a “neutral” rating and a $65.00 target price for the company. KeyCorp reaffirmed a “buy” rating and issued a $74.00 target price on shares of Activision Blizzard in a report on Friday. Piper Jaffray Companies reaffirmed an “overweight” rating and issued a $65.00 target price on shares of Activision Blizzard in a report on Tuesday, July 18th. Argus reaffirmed a “buy” rating and issued a $70.00 target price (up from $65.00) on shares of Activision Blizzard in a report on Wednesday, August 16th. Finally, Credit Suisse Group upped their target price on Activision Blizzard from $61.00 to $62.00 and gave the company an “outperform” rating in a report on Monday, May 15th. Two research analysts have rated the stock with a sell rating, two have issued a hold rating, twenty-four have assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average price target of $62.87.

The firm has a market cap of $49.70 billion, a P/E ratio of 44.45 and a beta of 1.08. The stock has a 50 day moving average price of $62.60 and a 200 day moving average price of $55.94.

In other Activision Blizzard news, CEO Riccardo Zacconi sold 19,761 shares of the stock in a transaction dated Friday, August 18th. The shares were sold at an average price of $61.32, for a total transaction of $1,211,744.52. Following the completion of the transaction, the chief executive officer now owns 48,472 shares of the company’s stock, valued at approximately $2,972,303.04. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Dennis M. Durkin sold 160,000 shares of the stock in a transaction dated Friday, August 11th. The shares were sold at an average price of $60.68, for a total transaction of $9,708,800.00. Following the transaction, the insider now directly owns 337,534 shares of the company’s stock, valued at approximately $20,481,563.12. The disclosure for this sale can be found here. Insiders sold a total of 4,074,879 shares of company stock valued at $252,196,001 in the last ninety days. 2.12% of the stock is currently owned by insiders.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. FMR LLC boosted its holdings in shares of Activision Blizzard by 0.5% during the 1st quarter. FMR LLC now owns 112,040,404 shares of the company’s stock valued at $5,586,335,000 after purchasing an additional 560,282 shares during the last quarter. BlackRock Inc. boosted its holdings in shares of Activision Blizzard by 0.5% during the 2nd quarter. BlackRock Inc. now owns 49,147,427 shares of the company’s stock valued at $2,829,418,000 after purchasing an additional 235,362 shares during the last quarter. Vanguard Group Inc. boosted its holdings in shares of Activision Blizzard by 4.8% during the 2nd quarter. Vanguard Group Inc. now owns 48,396,938 shares of the company’s stock valued at $2,786,211,000 after purchasing an additional 2,200,995 shares during the last quarter. State Street Corp boosted its holdings in shares of Activision Blizzard by 4.7% during the 2nd quarter. State Street Corp now owns 26,680,585 shares of the company’s stock valued at $1,536,010,000 after purchasing an additional 1,197,980 shares during the last quarter. Finally, Capital World Investors boosted its holdings in shares of Activision Blizzard by 23.8% during the 2nd quarter. Capital World Investors now owns 22,538,000 shares of the company’s stock valued at $1,297,513,000 after purchasing an additional 4,327,000 shares during the last quarter. 86.33% of the stock is owned by institutional investors and hedge funds.

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Activision Blizzard Company Profile

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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