Oak Ridge Investments LLC lifted its stake in Activision Blizzard, Inc. (NASDAQ:ATVI) by 0.5% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 31,117 shares of the company’s stock after buying an additional 149 shares during the period. Oak Ridge Investments LLC’s holdings in Activision Blizzard were worth $2,893,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in ATVI. Public Investment Fund bought a new stake in shares of Activision Blizzard in the fourth quarter valued at about $1,389,418,000. Norges Bank bought a new stake in shares of Activision Blizzard in the fourth quarter valued at about $806,508,000. BlackRock Inc. lifted its stake in shares of Activision Blizzard by 6.9% in the fourth quarter. BlackRock Inc. now owns 58,457,312 shares of the company’s stock valued at $5,427,763,000 after buying an additional 3,760,947 shares during the period. Janus Henderson Group PLC lifted its stake in shares of Activision Blizzard by 117.2% in the fourth quarter. Janus Henderson Group PLC now owns 5,417,629 shares of the company’s stock valued at $502,998,000 after buying an additional 2,923,884 shares during the period. Finally, Artisan Partners Limited Partnership lifted its stake in shares of Activision Blizzard by 30.4% in the fourth quarter. Artisan Partners Limited Partnership now owns 9,996,095 shares of the company’s stock valued at $928,137,000 after buying an additional 2,328,522 shares during the period. Institutional investors and hedge funds own 85.91% of the company’s stock.
Shares of NASDAQ ATVI opened at $97.69 on Friday. The stock’s fifty day moving average price is $94.94. The company has a market capitalization of $75.91 billion, a PE ratio of 32.89, a price-to-earnings-growth ratio of 1.55 and a beta of 0.61. Activision Blizzard, Inc. has a twelve month low of $70.25 and a twelve month high of $104.53. The company has a current ratio of 3.43, a quick ratio of 3.43 and a debt-to-equity ratio of 0.24.
In related news, Director Peter J. Nolan acquired 2,000 shares of the company’s stock in a transaction that occurred on Wednesday, May 12th. The shares were acquired at an average cost of $93.86 per share, for a total transaction of $187,720.00. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Armin Zerza sold 23,723 shares of the firm’s stock in a transaction on Tuesday, May 11th. The stock was sold at an average price of $94.86, for a total transaction of $2,250,363.78. Following the sale, the chief financial officer now owns 162,438 shares in the company, valued at $15,408,868.68. The disclosure for this sale can be found here. Over the last 90 days, insiders have purchased 22,000 shares of company stock worth $2,089,120. 0.77% of the stock is currently owned by company insiders.
Several research firms recently issued reports on ATVI. Raymond James reissued a “buy” rating on shares of Activision Blizzard in a research report on Monday, February 22nd. BMO Capital Markets raised shares of Activision Blizzard from a “market perform” rating to an “outperform” rating and set a $116.00 price target for the company in a research report on Monday, May 17th. Argus increased their price target on shares of Activision Blizzard from $102.00 to $122.00 in a research report on Thursday, February 18th. Jefferies Financial Group began coverage on shares of Activision Blizzard in a research report on Friday, April 23rd. They issued a “buy” rating and a $120.00 price target for the company. Finally, Morgan Stanley increased their price target on shares of Activision Blizzard from $115.00 to $120.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 5th. Two research analysts have rated the stock with a hold rating and twenty-one have issued a buy rating to the company’s stock. The company has an average rating of “Buy” and an average target price of $109.64.
About Activision Blizzard
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 Publishing, Inc; Blizzard Entertainment, Inc; and King Digital Entertainment.
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