Activision Blizzard, Inc. (NASDAQ:ATVI), watched two insiders lower their position with the company. Director and shareholder Brian G. Kelly sold 9,872 of common stock at an average of $22.55 per share, while the company’s President and CEO Robert A. Kotick disposed of 17,924 shares at an average of $22.55 per share. Following these transactions, both filed on July 3rd, Kelly holds 173,153,798 shares indirectly, and 1,776,758 shares directly; Kotick now directly holds 4,793,286 shares, while indirectly holding 171,977,643 shares in Activision Blizzard, Inc. (NASDAQ:ATVI), the $16.23 billion market cap company known as a worldwide publisher of online, personal computer (PC), console, handheld, and mobile interactive entertainment products.

In addition to these insiders, major hedge funds involved with the company have changed their exposure over the last few months. Cliff Asness‘ Aqr Managment experienced a 26% decline in activity over the last quarter, and now has 4,673,450 shares worth about $95.5 million; while Naya Capital, the hedge fund run by Masroor Siddiqui And Bruce Emery, also decreased it’s holdings with Activision Blizzard, Inc. (NASDAQ:ATVI) over the last quarter, by 8%, now holding 4,211,681 shares worth approximately $86 million.

Disclosure: The author, Daniel Forstein, holds no positions in any stocks mentioned.