Robert Kotick, the President and CEO of video game entertainment company Activision Blizzard (NASDAQ:ATVI), sold 843,116 shares of company stock for $12,284,200. The financial services company UBS announced today that it had initiated coverage of Activision Blizzard, giving it a "Buy" rating and a $17 price target. As of this writing, the stock price rests at $14.72, representing a 15.28% increase from one year ago.
Just reminding everyone what kind of person runs the blizzard ship these days...
Robert Kotick, the President and CEO of video game entertainment company Activision Blizzard (NASDAQ:ATVI), sold 843,116 shares of company stock for $12,284,200. The financial services company UBS announced today that it had initiated coverage of Activision Blizzard, giving it a "Buy" rating and a $17 price target. As of this writing, the stock price rests at $14.72, representing a 15.28% increase from one year ago.
Just reminding everyone what kind of person runs the blizzard ship these days...
You... you do realize Blizzard is it's own studio right? And that activision is a sister company? Activision Blizzard is a 'holding company' of both Activision and blizzard, which means it's a separate company that owns outstanding stock. This also means that Activison and Blizzard are still separate developers.
So I just want to remind YOU that he does not run Blizzard, and that you're spreading falsities because you're ill-informed.
Just reminding everyone what kind of person runs the blizzard ship these days...
I don't really know what you're getting at here. I don't bemoan anyone who cashes out their stake in a company. It's his stock to sell, and he sold it.
Robert Kotick, the President and CEO of video game entertainment company Activision Blizzard (NASDAQ:ATVI), sold 843,116 shares of company stock for $12,284,200. The financial services company UBS announced today that it had initiated coverage of Activision Blizzard, giving it a "Buy" rating and a $17 price target. As of this writing, the stock price rests at $14.72, representing a 15.28% increase from one year ago.
Just reminding everyone what kind of person runs the blizzard ship these days...
You... you do realize Blizzard is it's own studio right? And that activision is a sister company? Activision Blizzard is a 'holding company' of both Activision and blizzard, which means it's a separate company that owns outstanding stock. This also means that Activison and Blizzard are still separate developers.
So I just want to remind YOU that he does not run Blizzard, and that you're spreading falsities because you're ill-informed.
A subsidiary company, subsidiary, or daughter (lol @ sister) company is a company that is completely or partly owned and partly or wholly controlled by another company that owns more than half of the subsidiary's stock.
Just reminding everyone what kind of person runs the blizzard ship these days...
I don't really know what you're getting at here. I don't bemoan anyone who cashes out their stake in a company. It's his stock to sell, and he sold it.
Yeah, it's not like he gets a paycheck for his position. No, it's much better to sell the company stock back to itself. That way you don't have to worry about where the money comes from since its all going to you.
I'm confused. Why shouldn't he sell his stock? It's HIS stock, right? Or are you alleging some sort of insider trading? I don't really get what I'm supposed to be outraged about here.
Rollback Post to RevisionRollBack
...and if you disagree with me, you're probably <insert random ad hominem attack here>.
I'm confused. Why shouldn't he sell his stock? It's HIS stock, right? Or are you alleging some sort of insider trading? I don't really get what I'm supposed to be outraged about here.
Yes insider trading is the point, one rarely knows when to sell 800k+ stock shares to gain 12 million dollars without foreknowledge. Especially when moments later the stock drops again.
"Activision Blizzard, Inc., formerly Activision, Inc., is the American holding company for Activision and Blizzard Entertainment."
"René Penisson, formerly a member of the Management Board of Vivendi and Chairman of Vivendi Games, would serve as Chairman of Activision Blizzard. Bobby Kotick, once head of Activision, was announced to become President and CEO of Activision Blizzard."
Kotick's boss has been Blizzard's boss for the last 15 years. The companies were merged by the people that own them both - Vivendi. Don't twist words.
"Activision Blizzard, Inc., formerly Activision, Inc., is the American holding company for Activision and Blizzard Entertainment."
"René Penisson, formerly a member of the Management Board of Vivendi and Chairman of Vivendi Games, would serve as Chairman of Activision Blizzard. Bobby Kotick, once head of Activision, was announced to become President and CEO of Activision Blizzard."
Kotick's boss has been Blizzard's boss for the last 15 years. The companies were merged by the people that own them both - Vivendi. Don't twist words.
I'm not sure what I could be twisting, there is only one stock for these companies. Maybe he doesn't "run blizzard" but all the money is centralized to one location. If the stock remains at its same pace of 14-15 since its once prosperous peak of 19 because of insider trading, then blizzard developers suffer the consequences.
I'm confused. Why shouldn't he sell his stock? It's HIS stock, right? Or are you alleging some sort of insider trading? I don't really get what I'm supposed to be outraged about here.
Yes insider trading is the point, one rarely knows when to sell 800k+ stock shares to gain 12 million dollars without foreknowledge. Especially when moments later the stock drops again.
Some quick math based on the numbers you posted shows he sold his shares for an average of about $14.57 each, which is less than the $14.72 figure the stock was trading at when the article was published. I'm no expert, but that doesn't seem suspicious to me. Is the allegation that he influenced UBS to give a false report? Is it that he had foreknowledge of the report and acted before the announcement was made? What are the specific allegations being made? Walk me through specifically what you think he did and how it would have given him an unfair trading advantage, and assume I know nothing about trading stocks since that's pretty close to true.
Rollback Post to RevisionRollBack
...and if you disagree with me, you're probably <insert random ad hominem attack here>.
NASDAQ:ATVI closed at $14.51 last night and opened at $14.31 this morning. All markets are in the red today on a very weak jobs report in the USA (a sign of cautious investors, not a reflection on the companies). In fact, ATVI closed down 0.62% today, which was BETTER than the NASDAQ, which closed down 0.65%.
NASDAQ:ATVI closed at $14.43 today, making up over 50% of its overnight loss.
Had Kotick sold his shares this morning instead of last night, he'd have lost $0.26 per share, for a grand total of $219,210.16 - or a 1.78% loss
You really think an extra $200k on a $12 million transaction is worth risking getting your ass drug down to the SEC over insider trading? Really? It makes absolutely no sense to risk that for such a small gain, especially for a guy who farts $100 bills.
If you think Bobby Kotick was trying to run a scam for 200k then you're just delirious as to how much money the man is worth through LEGITEMATE means. What you're assserting is that someone wins the lottery, goes to collect their $5 million prize, and then steals a 1997 Honda Civic on the way out. Why would ANYONE with ANY brain do that? It's so completely imbecilic that only a completely uneducated moron would do that.
You may not like Bobby Kotick's stance on the video gaming industry, but he'd have to have a serious lapse in judgement to do something that stupid.
EDIT
For the record, "insider trading" implies a breach in fiduciary responsibility/trust based on material non-public information. Exactly what information was Kotick operating on? Without that bit of information it's borderline libellous to accuse someone of insider trading.
NASDAQ:ATVI closed at $14.51 last night and opened at $14.31 this morning. All markets are in the red today on a very weak jobs report in the USA (a sign of cautious investors, not a reflection on the companies). In fact, ATVI closed down 0.62% today, which was BETTER than the NASDAQ, which closed down 0.65%.
NASDAQ:ATVI closed at $14.43 today, making up over 50% of its overnight loss.
Had Kotick sold his shares this morning instead of last night, he'd have lost $0.26 per share, for a grand total of $219,210.16 - or a 1.78% loss
You really think an extra $200k on a $12 million transaction is worth risking getting your ass drug down to the SEC over insider trading? Really? It makes absolutely no sense to risk that for such a small gain, especially for a guy who farts $100 bills.
If you think Bobby Kotick was trying to run a scam for 200k then you're just delirious as to how much money the man is worth through LEGITEMATE means. What you're assserting is that someone wins the lottery, goes to collect their $5 million prize, and then steals a 1997 Honda Civic on the way out. Why would ANYONE with ANY brain do that? It's so completely imbecilic that only a completely uneducated moron would do that.
You may not like Bobby Kotick's stance on the video gaming industry, but he'd have to have a serious lapse in judgement to do something that stupid.
Well I would say that I'm busted and should have searched for more information except for one minor point, where are the records of Kotick ever BUYING the shares...
Well I would say that I'm busted and should have searched for more information except for one minor point, where are the records of Kotick ever BUYING the shares...
And by being CEO, you get a ton of options along the way as part of your salary. At some point you cash out.
Just read the wiki page - he's a gambling broker. He has no interest in the gaming business, he just wants to earn money.
But your initial post, hinting that he does some insider trading, is ridiculous; like shaggy said, why would a man who is a multiple millionaire risk getting busted for a mere 200k earned by insider trading using stocks from the company he is CEO of?
This entire thread is making me sick. "Oh my god, some capitalist is making money!" - yeah, that's the world we live in. You obviously just wanted to vent. And now I'm venting... meh.
OH NOES, SOMEONE CALL THE FBI, HOMELAND SECURITY, THE INTERPOL, THE UN!!!!
Sorry, I didn't receive the memo that says making money is illegal nowadays let's arrest every single "stockholder" that makes money by selling his shares.
The company is growing, the games are more succesful than ever (while the whole games market is in sort of a crisis) and Blizzard not only is more alive than ever with its 3 franchises, they're also releasing more products (card game, Titan, unnanounced game) than ever.
They have never been so active in banning people. providing proper customer support (I've had tickets answered in hours) and updating/changing their games to value customer feedback - so what's the big fucking deal?
EVEN IF he had a say in how Blizzard is managed or how games are developed (which he doesn't, being CEO of a company entails things "slightly" different than that), he's not breaking the company by selling shares and making money.
OH NOES, SOMEONE CALL THE FBI, HOMELAND SECURITY, THE INTERPOL, THE UN!!!!
Sorry, I didn't receive the memo that says making money is illegal nowadays let's arrest every single "stockholder" that makes money by selling his shares.
The company is growing, the games are more succesful than ever (while the whole games market is in sort of a crisis) and Blizzard not only is more alive than ever with its 3 franchises, they're also releasing more products (card game, Titan, unnanounced game) than ever.
They have never been so active in banning people. providing proper customer support (I've had tickets answered in hours) and updating/changing their games to value customer feedback - so what's the big fucking deal?
EVEN IF he had a say in how Blizzard is managed or how games are developed (which he doesn't, being CEO of a company entails things "slightly" different than that), he's not breaking the company by selling shares and making money.
Sorry I was posting on a web forum just to see what other gamers thought, perhaps I should have gone to the UN? Plus in my OP it's clearly just a factual statement followed by me saying "this is the kind of person" I never said it was good or bad, all inferred opinions were formulated in the minds of the reader. I guess some people take their forum moderation jobs very seriously.
Well I would say that I'm busted and should have searched for more information except for one minor point, where are the records of Kotick ever BUYING the shares...
And by being CEO, you get a ton of options along the way as part of your salary. At some point you cash out.
Just read the wiki page - he's a gambling broker. He has no interest in the gaming business, he just wants to earn money.
But your initial post, hinting that he does some insider trading, is ridiculous; like shaggy said, why would a man who is a multiple millionaire risk getting busted for a mere 200k earned by insider trading using stocks from the company he is CEO of?
This entire thread is making me sick. "Oh my god, some capitalist is making money!" - yeah, that's the world we live in. You obviously just wanted to vent. And now I'm venting... meh.
Didn't intend to make you sick.
I don't think it's accurate to say that 25% of the stocks purchased in 1990 would represent the stocks being traded in recent years. If it was accurate that would mean blizzard had over 6million stock shares in 1990.
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Just reminding everyone what kind of person runs the blizzard ship these days...
You... you do realize Blizzard is it's own studio right? And that activision is a sister company? Activision Blizzard is a 'holding company' of both Activision and blizzard, which means it's a separate company that owns outstanding stock. This also means that Activison and Blizzard are still separate developers.
So I just want to remind YOU that he does not run Blizzard, and that you're spreading falsities because you're ill-informed.
I don't really know what you're getting at here. I don't bemoan anyone who cashes out their stake in a company. It's his stock to sell, and he sold it.
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Wise ElderHa. Bagstone.
A subsidiary company, subsidiary, or daughter (lol @ sister) company is a company that is completely or partly owned and partly or wholly controlled by another company that owns more than half of the subsidiary's stock.
Yeah, it's not like he gets a paycheck for his position. No, it's much better to sell the company stock back to itself. That way you don't have to worry about where the money comes from since its all going to you.
http://www.minyanville.com/trading-and-investing/stocks/articles/A-Director-of-Kohl2527s-Buys-Stock/4/3/2013/id/49050
Dated April 3 2013
Looks like he does this every year then...
Yes insider trading is the point, one rarely knows when to sell 800k+ stock shares to gain 12 million dollars without foreknowledge. Especially when moments later the stock drops again.
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Wise Elder"René Penisson, formerly a member of the Management Board of Vivendi and Chairman of Vivendi Games, would serve as Chairman of Activision Blizzard. Bobby Kotick, once head of Activision, was announced to become President and CEO of Activision Blizzard."
Kotick's boss has been Blizzard's boss for the last 15 years. The companies were merged by the people that own them both - Vivendi. Don't twist words.
Ha. Bagstone.
I'm not sure what I could be twisting, there is only one stock for these companies. Maybe he doesn't "run blizzard" but all the money is centralized to one location. If the stock remains at its same pace of 14-15 since its once prosperous peak of 19 because of insider trading, then blizzard developers suffer the consequences.
Some quick math based on the numbers you posted shows he sold his shares for an average of about $14.57 each, which is less than the $14.72 figure the stock was trading at when the article was published. I'm no expert, but that doesn't seem suspicious to me. Is the allegation that he influenced UBS to give a false report? Is it that he had foreknowledge of the report and acted before the announcement was made? What are the specific allegations being made? Walk me through specifically what you think he did and how it would have given him an unfair trading advantage, and assume I know nothing about trading stocks since that's pretty close to true.
Kotick sold his stock at $14.57.
NASDAQ:ATVI closed at $14.51 last night and opened at $14.31 this morning. All markets are in the red today on a very weak jobs report in the USA (a sign of cautious investors, not a reflection on the companies). In fact, ATVI closed down 0.62% today, which was BETTER than the NASDAQ, which closed down 0.65%.
NASDAQ:ATVI closed at $14.43 today, making up over 50% of its overnight loss.
Had Kotick sold his shares this morning instead of last night, he'd have lost $0.26 per share, for a grand total of $219,210.16 - or a 1.78% loss
You really think an extra $200k on a $12 million transaction is worth risking getting your ass drug down to the SEC over insider trading? Really? It makes absolutely no sense to risk that for such a small gain, especially for a guy who farts $100 bills.
If you think Bobby Kotick was trying to run a scam for 200k then you're just delirious as to how much money the man is worth through LEGITEMATE means. What you're assserting is that someone wins the lottery, goes to collect their $5 million prize, and then steals a 1997 Honda Civic on the way out. Why would ANYONE with ANY brain do that? It's so completely imbecilic that only a completely uneducated moron would do that.
You may not like Bobby Kotick's stance on the video gaming industry, but he'd have to have a serious lapse in judgement to do something that stupid.
EDIT
For the record, "insider trading" implies a breach in fiduciary responsibility/trust based on material non-public information. Exactly what information was Kotick operating on? Without that bit of information it's borderline libellous to accuse someone of insider trading.
It appears he does lol. Maybe you are on to something with insider trading.
http://au.gamespot.com/news/activision-ceo-reaps-202-million-in-three-day-stock-sale-6239827?om_act=convert&om_clk=newstop&tag=newstop%3Btitle%3B3
http://www.gurufocus.com/news/153522/activision-blizzard-inc-atvi-president--ceo-robert-a-kotick-sells-621317-shares
So yeah, he does do this a lot.
Well I would say that I'm busted and should have searched for more information except for one minor point, where are the records of Kotick ever BUYING the shares...
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Moderatorhttp://en.wikipedia.org/wiki/Robert_Kotick
Kotick and his partner Brian Kelly bought a 25% stake in Activision in December 1990,[3][4] and became CEO in February 1991.
And by being CEO, you get a ton of options along the way as part of your salary. At some point you cash out.
Just read the wiki page - he's a gambling broker. He has no interest in the gaming business, he just wants to earn money.
But your initial post, hinting that he does some insider trading, is ridiculous; like shaggy said, why would a man who is a multiple millionaire risk getting busted for a mere 200k earned by insider trading using stocks from the company he is CEO of?
This entire thread is making me sick. "Oh my god, some capitalist is making money!" - yeah, that's the world we live in. You obviously just wanted to vent. And now I'm venting... meh.
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Wise ElderSorry, I didn't receive the memo that says making money is illegal nowadays
The company is growing, the games are more succesful than ever (while the whole games market is in sort of a crisis) and Blizzard not only is more alive than ever with its 3 franchises, they're also releasing more products (card game, Titan, unnanounced game) than ever.
They have never been so active in banning people. providing proper customer support (I've had tickets answered in hours) and updating/changing their games to value customer feedback - so what's the big fucking deal?
EVEN IF he had a say in how Blizzard is managed or how games are developed (which he doesn't, being CEO of a company entails things "slightly" different than that), he's not breaking the company by selling shares and making money.
Sorry I was posting on a web forum just to see what other gamers thought, perhaps I should have gone to the UN? Plus in my OP it's clearly just a factual statement followed by me saying "this is the kind of person" I never said it was good or bad, all inferred opinions were formulated in the minds of the reader. I guess some people take their forum moderation jobs very seriously.
Didn't intend to make you sick.
I don't think it's accurate to say that 25% of the stocks purchased in 1990 would represent the stocks being traded in recent years. If it was accurate that would mean blizzard had over 6million stock shares in 1990.