Canada Pension Plan Investment Board cut its stake in shares of Activision Blizzard, Inc. (NASDAQ:ATVI) by 69.5% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 29,249 shares of the company’s stock after selling 66,761 shares during the quarter. Canada Pension Plan Investment Board’s holdings in Activision Blizzard were worth $2,232,000 at the end of the most recent reporting period.
Several other large investors also recently made changes to their positions in the stock. Signaturefd LLC bought a new position in Activision Blizzard in the 1st quarter worth approximately $114,000. Quad Cities Investment Group LLC bought a new position in shares of Activision Blizzard during the 2nd quarter valued at approximately $114,000. NuWave Investment Management LLC bought a new position in shares of Activision Blizzard during the 2nd quarter valued at approximately $121,000. Kaizen Advisory LLC boosted its position in shares of Activision Blizzard by 155.2% during the 2nd quarter. Kaizen Advisory LLC now owns 1,876 shares of the company’s stock valued at $143,000 after acquiring an additional 1,141 shares during the last quarter. Finally, Acadian Asset Management LLC bought a new position in shares of Activision Blizzard during the 2nd quarter valued at approximately $156,000. Institutional investors own 87.04% of the company’s stock.
NASDAQ:ATVI opened at $71.65 on Thursday. Activision Blizzard, Inc. has a fifty-two week low of $57.29 and a fifty-two week high of $81.64. The firm has a market cap of $54.97 billion, a P/E ratio of 34.95, a P/E/G ratio of 1.90 and a beta of 0.87. The company has a debt-to-equity ratio of 0.42, a quick ratio of 2.96 and a current ratio of 2.98.
Activision Blizzard (NASDAQ:ATVI) last released its quarterly earnings results on Thursday, August 2nd. The company reported $0.41 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.30 by $0.11. Activision Blizzard had a return on equity of 18.00% and a net margin of 6.96%. The company had revenue of $1.39 billion for the quarter, compared to analyst estimates of $1.38 billion. During the same quarter in the prior year, the firm posted $0.32 EPS. Activision Blizzard’s quarterly revenue was down 2.3% compared to the same quarter last year. sell-side analysts forecast that Activision Blizzard, Inc. will post 2.49 EPS for the current year.
In other Activision Blizzard news, CEO Riccardo Zacconi sold 19,761 shares of the stock in a transaction on Monday, August 20th. The stock was sold at an average price of $68.70, for a total value of $1,357,580.70. Following the sale, the chief executive officer now owns 20,324 shares in the company, valued at $1,396,258.80. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Company insiders own 1.29% of the company’s stock.
ATVI has been the subject of a number of research reports. Morgan Stanley increased their target price on Activision Blizzard from $75.00 to $80.00 and gave the company an “overweight” rating in a research report on Wednesday, July 11th. BidaskClub downgraded Activision Blizzard from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, July 25th. Wedbush set a $81.00 target price on Activision Blizzard and gave the company a “buy” rating in a research report on Thursday, July 26th. Bank of America downgraded Activision Blizzard from a “buy” rating to a “neutral” rating and lowered their target price for the company from $84.00 to $77.00 in a research report on Friday, August 31st. Finally, Needham & Company LLC increased their target price on Activision Blizzard from $80.00 to $90.00 and gave the company a “buy” rating in a research report on Tuesday, July 31st. Nine research analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus target price of $78.55.
Activision Blizzard Company Profile
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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