Mairs & Power Inc. trimmed its holdings in Activision Blizzard, Inc. (NASDAQ:ATVI – Get Rating) by 94.1% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 61,823 shares of the company’s stock after selling 990,174 shares during the quarter. Mairs & Power Inc.’s holdings in Activision Blizzard were worth $4,953,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Confluence Wealth Services Inc. purchased a new stake in Activision Blizzard in the fourth quarter valued at approximately $25,000. MV Capital Management Inc. lifted its stake in Activision Blizzard by 275.5% in 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. purchased a new stake in Activision Blizzard in the first quarter valued at approximately $37,000. Professional Financial Advisors LLC purchased a new stake in Activision Blizzard in the first quarter valued at approximately $38,000. Finally, Tcwp LLC purchased a new stake in Activision Blizzard in the first quarter valued at approximately $38,000. 78.78% of the stock is owned by institutional investors and hedge funds.
Analyst Ratings Changes
Several equities research analysts have recently commented on the company. Moffett Nathanson upgraded Activision Blizzard from a “neutral” rating to a “buy” rating and set a $95.00 price target for the company in a research note on Wednesday, August 3rd. Deutsche Bank Aktiengesellschaft cut their price target on Activision Blizzard from $95.00 to $84.00 in a research note on Thursday, August 4th. Sixteen investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $94.05.
Activision Blizzard Stock Performance
Activision Blizzard (NASDAQ:ATVI – Get Rating) last announced its earnings results on Monday, August 1st. The company reported $0.47 EPS for the quarter, beating the consensus estimate of $0.38 by $0.09. The business had revenue of $1.64 billion for the quarter, compared to the consensus estimate of $1.57 billion. Activision Blizzard had a return on equity of 10.22% and a net margin of 24.57%. The company’s revenue was down 14.6% on a year-over-year basis. During the same period last year, the business posted $0.86 EPS. Equities analysts anticipate that Activision Blizzard, Inc. will post 2.44 earnings per share for the current year.
Insider Buying and Selling at Activision Blizzard
In other Activision Blizzard news, CFO Armin Zerza sold 10,174 shares of the firm’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 completion of the sale, the chief financial officer now owns 186,117 shares in the company, valued at approximately $14,930,305.74. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. 1.10% of the stock is owned by insiders.
Activision Blizzard Company Profile
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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