On March 28, 2023 at 09:54:52 ET an unusually large $2,800.00K block of Put contracts in Activision Blizzard (ATVI) was sold, with a strike price of $65.00 / share, expiring in 297 days (on January 19, 2024). Fintel tracks all large options trades, and the premium spent on this trade was 1.36 sigmas above the mean, placing it in the 100.00 percentile of all recent large trades made in ATVI options.

This trade was first picked up on Fintel’s real time Unusual Option Trades tool, where unusual option trades are highlighted.

Analyst Price Forecast Suggests 10.78% Upside

As of March 27, 2023, the average one-year price target for Activision Blizzard is $93.42. The forecasts range from a low of $80.80 to a high of $99.75. The average price target represents an increase of 10.78% from its latest reported closing price of $84.33.

See our leaderboard of companies with the largest price target upside.

The projected annual revenue for Activision Blizzard is $9,832MM, an increase of 30.61%. The projected annual non-GAAP EPS is $3.98.

What is the Fund Sentiment?

There are 2179 funds or institutions reporting positions in Activision Blizzard. This is an increase of 135 owner(s) or 6.60% in the last quarter. Average portfolio weight of all funds dedicated to ATVI is 0.76%, an increase of 22.96%. Total shares owned by institutions decreased in the last three months by 0.93% to 683,168K shares. The put/call ratio of ATVI is 1.40, indicating a bearish outlook.

What are Large Shareholders Doing?

Berkshire Hathaway holds 52,717K shares representing 6.72% ownership of the company. In it’s prior filing, the firm reported owning 60,142K shares, representing a decrease of 14.08%. The firm decreased its portfolio allocation in ATVI by 10.62% over the last quarter.

Public Investment Fund holds 37,909K shares representing 4.83% ownership of the company. In it’s prior filing, the firm reported owning 37,870K shares, representing an increase of 0.10%. The firm increased its portfolio allocation in ATVI by 22.66% over the last quarter.

VTSMX – Vanguard Total Stock Market Index Fund Investor Shares holds 21,402K shares representing 2.73% ownership of the company. In it’s prior filing, the firm reported owning 21,025K shares, representing an increase of 1.76%. The firm decreased its portfolio allocation in ATVI by 3.20% over the last quarter.

VFINX – Vanguard 500 Index Fund Investor Shares holds 16,464K shares representing 2.10% ownership of the company. In it’s prior filing, the firm reported owning 16,140K shares, representing an increase of 1.97%. The firm decreased its portfolio allocation in ATVI by 3.23% over the last quarter.

Geode Capital Management holds 15,380K shares representing 1.96% ownership of the company. In it’s prior filing, the firm reported owning 15,556K shares, representing a decrease of 1.15%. The firm decreased its portfolio allocation in ATVI by 5.88% over the last quarter.

Activision Blizzard Background Information
(This description is provided by the company.)

Activision Blizzard, Inc. connects and engages the world through epic entertainment. A member of the Fortune 500 and S&P 500, Activision Blizzard is a leading interactive entertainment company. It delights hundreds of millions of monthly active users around the world through franchises including Activision’s Call of Duty® and Crash Bandicoot™, Blizzard Entertainment’s World of Warcraft®, Overwatch®, Hearthstone®, Diablo®, and StarCraft®, and King’s Candy Crush™, Bubble Witch™, and Farm Heroes™. Headquartered in Santa Monica, California, Activision Blizzard has operations throughout the world.

This article originally appeared on Fintel

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