Soros Fund Management LLC Sells 386,392 Shares of Activision Blizzard, Inc. (NASDAQ:ATVI)

Soros Fund Management LLC trimmed its holdings in shares of Activision Blizzard, Inc. (NASDAQ:ATVIGet Rating) by 27.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,013,608 shares of the company’s stock after selling 386,392 shares during the period. Activision Blizzard accounts for about 0.9% of Soros Fund Management LLC’s investment portfolio, making the stock its 20th biggest holding. Soros Fund Management LLC owned approximately 0.13% of Activision Blizzard worth $67,435,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of the business. Bigelow Investment Advisors LLC boosted its holdings in shares of Activision Blizzard by 39.9% in the fourth quarter. Bigelow Investment Advisors LLC now owns 3,639 shares of the company’s stock valued at $242,000 after buying an additional 1,038 shares during the period. Csenge Advisory Group acquired a new position in Activision Blizzard during the fourth quarter worth $223,000. Motley Fool Asset Management LLC boosted its holdings in Activision Blizzard by 5.9% during the fourth quarter. Motley Fool Asset Management LLC now owns 20,172 shares of the company’s stock worth $1,342,000 after purchasing an additional 1,118 shares during the last quarter. Nwam LLC lifted its stake in Activision Blizzard by 9.6% in the fourth quarter. Nwam LLC now owns 4,398 shares of the company’s stock valued at $293,000 after acquiring an additional 386 shares during the last quarter. Finally, Covestor Ltd acquired a new stake in Activision Blizzard in the fourth quarter valued at $55,000. 83.11% of the stock is owned by hedge funds and other institutional investors.

ATVI has been the topic of a number of recent research reports. Atlantic Securities lowered shares of Activision Blizzard from an “overweight” rating to a “neutral” rating and lowered their price target for the stock from $100.00 to $95.00 in a research report on Wednesday, January 19th. Zacks Investment Research raised shares of Activision Blizzard from a “strong sell” rating to a “hold” rating and set a $84.00 target price on the stock in a report on Tuesday, March 15th. Exane BNP Paribas lowered shares of Activision Blizzard from an “outperform” rating to a “neutral” rating and decreased their target price for the company from $106.00 to $95.00 in a report on Wednesday, January 19th. Truist Financial lowered shares of Activision Blizzard from a “buy” rating to a “hold” rating and raised their target price for the company from $74.00 to $95.00 in a report on Tuesday, January 18th. Finally, Morgan Stanley raised their target price on shares of Activision Blizzard from $65.00 to $95.00 and gave the company an “equal weight” rating in a report on Wednesday, January 19th. Nineteen research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Activision Blizzard currently has an average rating of “Hold” and an average target price of $95.86.

NASDAQ:ATVI traded up $0.54 during mid-day trading on Tuesday, hitting $78.54. 4,086,527 shares of the company’s stock were exchanged, compared to its average volume of 10,414,438. The company has a 50 day simple moving average of $78.96 and a 200-day simple moving average of $73.50. The company has a current ratio of 5.45, a quick ratio of 5.45 and a debt-to-equity ratio of 0.20. Activision Blizzard, Inc. has a fifty-two week low of $56.40 and a fifty-two week high of $99.46. The firm has a market capitalization of $61.41 billion, a P/E ratio of 24.68, a PEG ratio of 2.00 and a beta of 0.56.

Activision Blizzard (NASDAQ:ATVIGet Rating) last posted its earnings results on Monday, April 25th. The company reported $0.64 EPS for the quarter, missing the consensus estimate of $0.71 by ($0.07). Activision Blizzard had a return on equity of 12.70% and a net margin of 29.82%. The business had revenue of $1.77 billion for the quarter, compared to analyst estimates of $1.80 billion. During the same quarter in the prior year, the business earned $0.69 earnings per share. The firm’s quarterly revenue was down 22.3% on a year-over-year basis. As a group, analysts expect that Activision Blizzard, Inc. will post 2.68 earnings per share for the current year.

In other news, COO Daniel Alegre sold 14,563 shares of Activision Blizzard stock in a transaction on Monday, March 14th. The shares were sold at an average price of $79.66, for a total value of $1,160,088.58. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CAO Jesse Yang sold 10,812 shares of Activision Blizzard stock in a transaction on Thursday, May 5th. The shares were sold at an average price of $78.68, for a total transaction of $850,688.16. Following the completion of the sale, the chief accounting officer now owns 62,272 shares of the company’s stock, valued at approximately $4,899,560.96. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 27,447 shares of company stock valued at $2,175,584. Company insiders own 0.77% of the company’s stock.

Activision Blizzard Company Profile (Get Rating)

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

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