Activision Blizzard, Inc. (ATVI) Shares Sold by Palladium Partners LLC

Palladium Partners LLC cut its position in Activision Blizzard, Inc. (NASDAQ:ATVI) by 38.8% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 3,035 shares of the company’s stock after selling 1,927 shares during the quarter. Palladium Partners LLC’s holdings in Activision Blizzard were worth $252,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in ATVI. Asset Advisors Investment Management LLC acquired a new stake in shares of Activision Blizzard in the 3rd quarter valued at about $100,000. Ashburton Jersey Ltd acquired a new stake in shares of Activision Blizzard in the 2nd quarter valued at about $107,000. Quad Cities Investment Group LLC acquired a new stake in shares of Activision Blizzard in the 2nd quarter valued at about $114,000. NuWave Investment Management LLC acquired a new stake in shares of Activision Blizzard in the 2nd quarter valued at about $121,000. Finally, Kaizen Advisory LLC boosted its position in shares of Activision Blizzard by 155.2% in the 2nd quarter. Kaizen Advisory LLC now owns 1,876 shares of the company’s stock valued at $143,000 after purchasing an additional 1,141 shares during the period. 86.99% of the stock is owned by hedge funds and other institutional investors.

In other news, CEO Riccardo Zacconi sold 19,761 shares of the stock in a transaction that occurred on Monday, August 20th. The stock was sold at an average price of $68.70, for a total transaction of $1,357,580.70. Following the completion of the transaction, the chief executive officer now directly owns 20,324 shares of the company’s stock, valued at approximately $1,396,258.80. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Corporate insiders own 1.29% of the company’s stock.



A number of analysts recently issued reports on the company. BidaskClub raised Activision Blizzard from a “hold” rating to a “buy” rating in a research report on Saturday, September 29th. Wedbush upped their target price on Activision Blizzard from $85.00 to $100.00 and gave the company an “outperform” rating in a research report on Monday, October 1st. Argus reaffirmed a “buy” rating and set a $90.00 price objective (up from $81.00) on shares of Activision Blizzard in a research note on Friday, September 21st. Piper Jaffray Companies reaffirmed an “overweight” rating and set a $88.00 price objective on shares of Activision Blizzard in a research note on Wednesday, September 26th. Finally, Robert W. Baird upped their price objective on Activision Blizzard from $81.00 to $85.00 and gave the company an “outperform” rating in a research note on Thursday, September 13th. Ten equities research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the stock. The stock has a consensus rating of “Buy” and an average target price of $81.49.

Shares of ATVI stock opened at $67.48 on Wednesday. The company has a market cap of $52.48 billion, a PE ratio of 32.92, a price-to-earnings-growth ratio of 1.74 and a beta of 0.86. Activision Blizzard, Inc. has a 12-month low of $57.29 and a 12-month high of $84.68. The company has a quick ratio of 2.96, a current ratio of 2.98 and a debt-to-equity ratio of 0.42.

Activision Blizzard (NASDAQ:ATVI) last issued its earnings results on Thursday, August 2nd. The company reported $0.41 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.30 by $0.11. The business had revenue of $1.39 billion during the quarter, compared to the consensus estimate of $1.38 billion. Activision Blizzard had a return on equity of 16.39% and a net margin of 6.96%. The company’s revenue for the quarter was down 2.3% on a year-over-year basis. During the same period in the prior year, the business posted $0.32 EPS. On average, equities research analysts expect that Activision Blizzard, Inc. will post 2.49 earnings per share for the current year.

About Activision Blizzard

Activision Blizzard, Inc develops and distributes content and services on video game consoles, personal computers (PC), and mobile devices. The company operates through three segments: Activision Publishing, Inc; Blizzard Entertainment, Inc; and King Digital Entertainment. The company develops, publishes, and sells interactive software products and entertainment content for the console and PC platforms through retail and digital channels, including subscription, full-game, and in-game sales, as well as by licensing software to third-party or related-party companies; and offers downloadable content.

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Institutional Ownership by Quarter for Activision Blizzard (NASDAQ:ATVI)

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