DNB Asset Management AS Grows Position in Activision Blizzard, Inc. (NASDAQ:ATVI)

DNB Asset Management AS increased its position in Activision Blizzard, Inc. (NASDAQ:ATVI – Get Rating) by 235.5% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 461,267 shares of the company’s stock after purchasing an additional 323,768 shares during the quarter. DNB Asset Management AS owned approximately 0.06% of Activision Blizzard worth $35,310,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. RFG Advisory LLC lifted its stake in shares of Activision Blizzard by 30.4% in the 2nd quarter. RFG Advisory LLC now owns 3,732 shares of the company’s stock valued at $300,000 after purchasing an additional 871 shares during the period. CX Institutional raised its stake in Activision Blizzard by 37.3% during the third quarter. CX Institutional now owns 8,423 shares of the company’s stock valued at $626,000 after buying an additional 2,287 shares during the last quarter. Integrated Advisors Network LLC purchased a new position in Activision Blizzard during the third quarter valued at $227,000. Assenagon Asset Management S.A. raised its stake in Activision Blizzard by 3,179.3% during the third quarter. Assenagon Asset Management S.A. now owns 352,815 shares of the company’s stock valued at $26,228,000 after buying an additional 342,056 shares during the last quarter. Finally, EverSource Wealth Advisors LLC raised its stake in Activision Blizzard by 99.7% during the third quarter. EverSource Wealth Advisors LLC now owns 1,372 shares of the company’s stock valued at $102,000 after buying an additional 685 shares during the last quarter. Hedge funds and other institutional investors own 79.34% of the company’s stock.

Activision Blizzard Stock Performance

Shares of ATVI traded down $0.88 during trading hours on Friday, hitting $78.99. The stock had a trading volume of 9,409,231 shares, compared to its average volume of 5,073,767. The company has a debt-to-equity ratio of 0.19, a current ratio of 4.07 and a quick ratio of 4.07. Activision Blizzard, Inc. has a 12 month low of $70.94 and a 12 month high of $81.50. The firm has a market capitalization of $61.95 billion, a PE ratio of 41.14, a PEG ratio of 2.43 and a beta of 0.42. The stock has a fifty day moving average price of $76.72 and a 200 day moving average price of $75.60.

Insider Buying and Selling

In related news, COO Daniel Alegre sold 8,847 shares of Activision Blizzard stock in a transaction on Monday, March 13th. The stock was sold at an average price of $78.50, for a total value of $694,489.50. Following the completion of the sale, the chief operating officer now owns 156,170 shares of the company’s stock, valued at $12,259,345. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.10% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the company. Benchmark reiterated a “buy” rating and set a $90.00 price objective on shares of Activision Blizzard in a research note on Friday, March 10th. JPMorgan Chase & Co. lowered their price objective on Activision Blizzard from $95.00 to $86.00 in a research note on Monday, November 28th. Wells Fargo & Company upgraded Activision Blizzard from an “equal weight” rating to an “overweight” rating and set a $95.00 price objective for the company in a research note on Monday, November 28th. Roth Capital reiterated a “buy” rating on shares of Activision Blizzard in a research note on Friday, February 10th. Finally, Morgan Stanley upgraded Activision Blizzard from an “equal weight” rating to an “overweight” rating and set a $95.00 price target for the company in a research note on Monday, November 28th. One research analyst has rated the stock with a hold rating and fifteen have assigned a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $91.36.

Activision Blizzard Company Profile

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Activision Blizzard, Inc engages in the development and publication of entertainment content and services. It operates through the following segments: Activision Publishing Inc, Blizzard Entertainment Inc, and King Digital Entertainment. The Activision Publishing Inc segment delivers content through both premium and free-to-play offerings, as well as by licensing software to third-party or related-party companies that distribute Activision products.