Pinebridge Investments L.P. Sells 86,878 Shares of Activision Blizzard, Inc (ATVI)

Pinebridge Investments L.P. trimmed its position in Activision Blizzard, Inc (NASDAQ:ATVI) by 19.9% during the second quarter, according to its most recent 13F filing with the SEC. The fund owned 350,403 shares of the company’s stock after selling 86,878 shares during the period. Pinebridge Investments L.P.’s holdings in Activision Blizzard were worth $20,172,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the business. Allen Investment Management LLC bought a new position in shares of Activision Blizzard in the 2nd quarter worth $2,095,000. DnB Asset Management AS boosted its position in shares of Activision Blizzard by 10.6% in the 2nd quarter. DnB Asset Management AS now owns 80,653 shares of the company’s stock worth $4,643,000 after purchasing an additional 7,700 shares during the last quarter. Pacad Investment Ltd. boosted its position in shares of Activision Blizzard by 131.0% in the 2nd quarter. Pacad Investment Ltd. now owns 119,447 shares of the company’s stock worth $6,877,000 after purchasing an additional 67,742 shares during the last quarter. Brighton Jones LLC bought a new position in shares of Activision Blizzard in the 2nd quarter worth $508,000. Finally, Dupont Capital Management Corp bought a new position in shares of Activision Blizzard in the 2nd quarter worth $216,000. Hedge funds and other institutional investors own 86.27% of the company’s stock.

ATVI has been the topic of several recent research reports. Stifel Nicolaus restated a “buy” rating on shares of Activision Blizzard in a research report on Sunday, September 10th. Piper Jaffray Companies restated an “overweight” rating and issued a $69.00 price target on shares of Activision Blizzard in a research report on Friday, September 8th. Vetr upgraded Activision Blizzard from a “hold” rating to a “buy” rating and set a $64.63 price target on the stock in a research report on Thursday, June 8th. MKM Partners restated a “buy” rating and issued a $63.00 price target (up from $60.00) on shares of Activision Blizzard in a research report on Wednesday, July 26th. Finally, UBS AG restated a “buy” rating and issued a $72.00 price target (up from $67.00) on shares of Activision Blizzard in a research report on Monday, July 31st. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating, twenty-four have issued a buy rating and one has issued a strong buy rating to the stock. The stock has an average rating of “Buy” and an average price target of $62.87.

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In related news, Director Brian G. Kelly sold 111,239 shares of the firm’s stock in a transaction dated Monday, August 7th. The shares were sold at an average price of $62.44, for a total value of $6,945,763.16. Following the transaction, the director now owns 189,791 shares of the company’s stock, valued at approximately $11,850,550.04. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Riccardo Zacconi sold 19,761 shares of the firm’s stock in a transaction dated Friday, August 18th. The shares were sold at an average price of $61.32, for a total transaction of $1,211,744.52. Following the completion of the transaction, the chief executive officer now directly owns 48,472 shares in the company, valued at approximately $2,972,303.04. The disclosure for this sale can be found here. In the last ninety days, insiders sold 4,074,879 shares of company stock worth $252,196,001. 2.12% of the stock is owned by insiders.

Activision Blizzard, Inc (ATVI) traded down 0.02% during mid-day trading on Tuesday, hitting $64.19. The company had a trading volume of 3,348,057 shares. The firm has a market capitalization of $48.46 billion, a PE ratio of 43.34 and a beta of 1.08. Activision Blizzard, Inc has a 12-month low of $35.12 and a 12-month high of $66.58. The company’s 50 day moving average price is $63.38 and its 200-day moving average price is $57.00.

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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Institutional Ownership by Quarter for Activision Blizzard (NASDAQ:ATVI)

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