This article was originally published on this site
Gerber Kawasaki Wealth & Investment Management cut its position in Activision Blizzard, Inc. (NASDAQ:ATVI) by 7.3% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 114,247 shares of the company’s stock after selling 9,046 shares during the period. Activision Blizzard makes up approximately 2.4% of Gerber Kawasaki Wealth & Investment Management’s holdings, making the stock its 12th largest position. Gerber Kawasaki Wealth & Investment Management’s holdings in Activision Blizzard were worth $5,620,000 at the end of the most recent quarter.
Other institutional investors have also recently added to or reduced their stakes in the company. Decatur Capital Management Inc. bought a new stake in shares of Activision Blizzard during the third quarter worth about $3,269,000. BB&T Corp boosted its stake in shares of Activision Blizzard by 15.0% in the third quarter. BB&T Corp now owns 241,681 shares of the company’s stock worth $10,706,000 after buying an additional 31,577 shares during the last quarter. Quantitative Investment Management LLC boosted its stake in shares of Activision Blizzard by 123.3% in the third quarter. Quantitative Investment Management LLC now owns 372,400 shares of the company’s stock worth $16,497,000 after buying an additional 205,600 shares during the last quarter. San Francisco Sentry Investment Group CA boosted its stake in shares of Activision Blizzard by 16.3% in the third quarter. San Francisco Sentry Investment Group CA now owns 21,715 shares of the company’s stock worth $962,000 after buying an additional 3,040 shares during the last quarter. Finally, NEXT Financial Group Inc boosted its stake in shares of Activision Blizzard by 63.9% in the third quarter. NEXT Financial Group Inc now owns 9,949 shares of the company’s stock worth $441,000 after buying an additional 3,878 shares during the last quarter. Hedge funds and other institutional investors own 86.29% of the company’s stock.
Shares of Activision Blizzard, Inc. (NASDAQ:ATVI) traded up 1.32% on Friday, hitting $55.88. The company had a trading volume of 6,031,759 shares. Activision Blizzard, Inc. has a 12-month low of $35.12 and a 12-month high of $57.30. The company has a market capitalization of $42.11 billion, a P/E ratio of 41.00 and a beta of 1.03. The firm has a 50-day moving average price of $51.75 and a 200 day moving average price of $44.02.
Activision Blizzard (NASDAQ:ATVI) last released its earnings results on Thursday, May 4th. The company reported $0.27 earnings per share for the quarter, beating analysts’ consensus estimates of $0.16 by $0.11. The firm had revenue of $1.20 billion during the quarter, compared to the consensus estimate of $1.09 billion. Activision Blizzard had a return on equity of 16.70% and a net margin of 13.86%. The company’s revenue was up 31.7% compared to the same quarter last year. During the same period in the prior year, the company posted $0.23 EPS. Equities analysts expect that Activision Blizzard, Inc. will post $1.99 EPS for the current year.
A number of brokerages have issued reports on ATVI. Stifel Nicolaus reaffirmed a “buy” rating and set a $53.00 target price (up previously from $45.00) on shares of Activision Blizzard in a research report on Friday, February 10th. Wedbush set a $63.00 target price on Activision Blizzard and gave the stock a “buy” rating in a research report on Saturday, May 6th. Credit Suisse Group AG upped their target price on Activision Blizzard from $61.00 to $62.00 and gave the stock an “outperform” rating in a research report on Monday. Jefferies Group LLC reaffirmed a “buy” rating and set a $55.00 target price on shares of Activision Blizzard in a research report on Tuesday, April 18th. Finally, Benchmark Co. reaffirmed a “buy” rating and set a $57.88 target price (up previously from $53.96) on shares of Activision Blizzard in a research report on Monday, May 1st. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and seventeen have assigned a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $53.37.
In other news, CEO Riccardo Zacconi sold 19,761 shares of the company’s stock in a transaction on Wednesday, May 17th. The stock was sold at an average price of $55.45, for a total transaction of $1,095,747.45. Following the completion of the sale, the chief executive officer now directly owns 55,509 shares in the company, valued at approximately $3,077,974.05. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Brian G. Kelly sold 420,063 shares of the company’s stock in a transaction on Tuesday, March 28th. The shares were sold at an average price of $49.90, for a total value of $20,961,143.70. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 459,585 shares of company stock valued at $22,954,238. Corporate insiders own 25.23% of the company’s stock.
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.
Receive News & Ratings for Activision Blizzard Inc. Daily – Enter your email address below to receive a concise daily summary of the latest news and analysts’ ratings for Activision Blizzard Inc. and related companies with MarketBeat.com’s FREE daily email newsletter.