Exane Asset Management Purchases Shares of 109,982 Activision Blizzard, Inc. (NASDAQ:ATVI)

Exane Asset Management purchased a new stake in Activision Blizzard, Inc. (NASDAQ:ATVIGet Rating) in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund purchased 109,982 shares of the company’s stock, valued at approximately $8,563,000. Activision Blizzard makes up about 5.7% of Exane Asset Management’s investment portfolio, making the stock its 5th largest holding.

Several other hedge funds and other institutional investors have also recently bought and sold shares of ATVI. ACG Wealth bought a new stake in Activision Blizzard in the second quarter valued at $25,000. MV Capital Management Inc. grew its holdings in shares of Activision Blizzard by 275.5% during the first quarter. MV Capital Management Inc. now owns 353 shares of the company’s stock valued at $28,000 after buying an additional 259 shares during the last quarter. James Investment Research Inc. acquired a new position in shares of Activision Blizzard during the first quarter valued at about $37,000. Professional Financial Advisors LLC acquired a new position in shares of Activision Blizzard during the first quarter valued at about $38,000. Finally, Tcwp LLC acquired a new position in shares of Activision Blizzard during the first quarter valued at about $38,000. 78.78% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of brokerages have recently issued reports on ATVI. TheStreet cut shares of Activision Blizzard from a “b” rating to a “c+” rating in a report on Wednesday. Moffett Nathanson upgraded shares of Activision Blizzard from a “neutral” rating to a “buy” rating and set a $95.00 price objective for the company in a report on Wednesday, August 3rd. Atlantic Securities upgraded shares of Activision Blizzard from a “neutral” rating to an “overweight” rating and reduced their price objective for the company from $95.00 to $84.00 in a report on Thursday, September 15th. Finally, Deutsche Bank Aktiengesellschaft reduced their price objective on shares of Activision Blizzard from $95.00 to $84.00 in a report on Thursday, August 4th. Fifteen equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $93.58.

Insider Buying and Selling

In related news, COO Daniel Alegre sold 10,000 shares of the company’s stock in a transaction that occurred on Friday, September 9th. The shares were sold at an average price of $78.16, for a total transaction of $781,600.00. Following the sale, the chief operating officer now owns 176,690 shares of the company’s stock, valued at approximately $13,810,090.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, COO Daniel Alegre sold 10,000 shares of the company’s stock in a transaction that occurred on Friday, September 9th. The shares were sold at an average price of $78.16, for a total transaction of $781,600.00. Following the sale, the chief operating officer now owns 176,690 shares of the company’s stock, valued at approximately $13,810,090.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Armin Zerza sold 10,174 shares of the company’s stock in a transaction that occurred on Wednesday, August 3rd. The stock was sold at an average price of $80.22, for a total transaction of $816,158.28. Following the sale, the chief financial officer now directly owns 186,117 shares in the company, valued at approximately $14,930,305.74. The disclosure for this sale can be found here. 1.10% of the stock is currently owned by insiders.

Activision Blizzard Stock Performance

Shares of NASDAQ ATVI traded down $1.69 during midday trading on Friday, hitting $75.34. The company’s stock had a trading volume of 266,830 shares, compared to its average volume of 5,595,827. The stock has a fifty day moving average price of $78.82 and a 200 day moving average price of $78.39. Activision Blizzard, Inc. has a one year low of $56.40 and a one year high of $86.90. The company has a current ratio of 6.18, a quick ratio of 6.18 and a debt-to-equity ratio of 0.20. The firm has a market capitalization of $58.94 billion, a price-to-earnings ratio of 32.10, a P/E/G ratio of 3.25 and a beta of 0.51.

Activision Blizzard (NASDAQ:ATVIGet Rating) last posted its quarterly earnings results on Monday, August 1st. The company reported $0.47 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.38 by $0.09. Activision Blizzard had a net margin of 24.57% and a return on equity of 10.22%. The company had revenue of $1.64 billion for the quarter, compared to analyst estimates of $1.57 billion. During the same quarter in the previous year, the firm posted $0.86 earnings per share. The company’s quarterly revenue was down 14.6% compared to the same quarter last year. On average, research analysts forecast that Activision Blizzard, Inc. will post 2.44 EPS for the current fiscal year.

Activision Blizzard Company Profile

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Activision Blizzard, Inc, together with its subsidiaries, develops and publishes interactive entertainment content and services in the Americas, Europe, the Middle East, Africa, and the Asia Pacific. The company operates through three segments: Activision, Blizzard, and King. It develops and distributes content and services on video game consoles, personal computers, and mobile devices, including subscription, full-game, and in-game sales, as well as by licensing software to third-party or related-party companies that distribute Activision and Blizzard products.

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

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