A Director at Activision Blizzard (NASDAQ: ATVI) is Buying Shares

Today, a Director at Activision Blizzard (ATVIResearch Report), Peter Nolan, bought shares of ATVI for $4.3M.

This recent transaction increases Peter Nolan’s holding in the company by 156.53% to a total of $7.1 million. Following Peter Nolan’s last ATVI Buy transaction on August 18, 2016, the stock climbed by 3.7%.

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Based on Activision Blizzard’s latest earnings report for the quarter ending December 31, the company posted quarterly revenue of $2.36 billion and quarterly net profit of $650 million. In comparison, last year the company earned revenue of $2.04 billion and had a GAAP net loss of $584 million. ATVI’s market cap is $33.36B and the company has a P/E ratio of 18.43. Currently, Activision Blizzard has an average volume of 7.32M.

18 different firms, including Piper Jaffray and Jefferies, currently also have a Buy rating on the stock. Based on 26 analyst ratings, the analyst consensus is Moderate Buy with an average price target of $55.00, reflecting a 27.0% upside.

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Activision Blizzard, Inc. engages in the development and publication of interactive entertainment. It operates through the following segments: Activision, Blizzard, and King. The Activision segment develops and publishes interactive software products and entertainment content, particularly for the console platform.

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