Bank of Nova Scotia reduced its stake in shares of Activision Blizzard, Inc (NASDAQ:ATVI) by 37.3% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 197,429 shares of the company’s stock after selling 117,417 shares during the quarter. Bank of Nova Scotia’s holdings in Activision Blizzard were worth $11,367,000 at the end of the most recent quarter.
Other large investors also recently made changes to their positions in the company. Los Angeles Capital Management & Equity Research Inc. purchased a new stake in shares of Activision Blizzard during the first quarter worth about $245,000. Teachers Advisors LLC boosted its holdings in shares of Activision Blizzard by 41.9% during the first quarter. Teachers Advisors LLC now owns 1,632,248 shares of the company’s stock worth $81,384,000 after purchasing an additional 482,049 shares during the period. PNC Financial Services Group Inc. lifted its holdings in Activision Blizzard by 17.1% in the first quarter. PNC Financial Services Group Inc. now owns 73,919 shares of the company’s stock worth $3,687,000 after buying an additional 10,808 shares during the period. Legal & General Group Plc lifted its holdings in Activision Blizzard by 3.1% in the first quarter. Legal & General Group Plc now owns 3,233,590 shares of the company’s stock worth $161,262,000 after buying an additional 97,942 shares during the period. Finally, Simmons Bank purchased a new stake in Activision Blizzard in the first quarter worth about $237,000. 86.27% of the stock is currently owned by hedge funds and other institutional investors.
In related news, CEO Riccardo Zacconi sold 19,761 shares of the company’s stock in a transaction on Friday, August 18th. The shares were sold at an average price of $61.32, for a total value of $1,211,744.52. Following the completion of the sale, the chief executive officer now owns 48,472 shares in the company, valued at approximately $2,972,303.04. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Dennis M. Durkin sold 160,000 shares of the company’s stock in a transaction on 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 completion of the sale, the insider now 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. In the last quarter, insiders sold 4,074,879 shares of company stock valued at $252,196,001. 2.12% of the stock is owned by insiders.
Several brokerages have commented on ATVI. Needham & Company LLC restated a “buy” rating and issued a $75.00 price objective on shares of Activision Blizzard in a report on Thursday. Piper Jaffray Companies reiterated an “overweight” rating and set a $65.00 target price on shares of Activision Blizzard in a report on Tuesday, July 18th. Argus reiterated a “buy” rating and set a $70.00 target price (up from $65.00) on shares of Activision Blizzard in a report on Wednesday, August 16th. Vetr lowered shares of Activision Blizzard from a “strong-buy” rating to a “buy” rating and set a $67.48 target price for the company. in a report on Wednesday, July 12th. Finally, Oppenheimer Holdings, Inc. lifted their target price on shares of Activision Blizzard from $60.00 to $70.00 and gave the company an “outperform” rating in a report on Thursday, June 22nd. One analyst has rated the stock with a sell rating, five have given a hold rating and twenty-four have issued a buy rating to the stock. Activision Blizzard presently has a consensus rating of “Buy” and an average target price of $65.33.
Activision Blizzard 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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