Bank of America Increases Take-Two Interactive Software (NASDAQ:TTWO) Price Target to $285.00

Key Points

• Bank of America raised its price target for Take-Two Interactive Software to $285.00, indicating a potential upside of approximately 25.83% based on the current stock price.
• The average rating for Take-Two Interactive Software among analysts is "Moderate Buy", with a consensus price target of $238.81.
• Insider transactions revealed that both CEO Strauss Zelnick and President Karl Slatoff sold 216,661 shares each at an average price of $225.75, resulting in a significant decrease in their ownership stakes.

Take-Two Interactive Software (NASDAQ:TTWO - Get Free Report) had its target price hoisted by analysts at Bank of America from $260.00 to $285.00 in a research report issued to clients and investors on Friday,Benzinga reports. The brokerage currently has a "buy" rating on the stock. Bank of America's price target would indicate a potential upside of 25.83% from the stock's current price.

Several other equities research analysts have also issued reports on TTWO. BMO Capital Markets reaffirmed an "outperform" rating and issued a $236.00 price objective (down previously from $240.00) on shares of Take-Two Interactive Software in a research note on Monday, May 5th. UBS Group boosted their price target on Take-Two Interactive Software from $230.00 to $275.00 and gave the stock a "buy" rating in a research report on Friday, May 16th. JPMorgan Chase & Co. increased their price objective on Take-Two Interactive Software from $225.00 to $250.00 and gave the company an "overweight" rating in a report on Friday, May 16th. Wall Street Zen downgraded Take-Two Interactive Software from a "hold" rating to a "sell" rating in a research note on Wednesday, May 21st. Finally, DA Davidson upped their target price on Take-Two Interactive Software from $250.00 to $270.00 and gave the stock a "buy" rating in a research report on Friday, May 16th. One research analyst has rated the stock with a sell rating, one has given a hold rating, nineteen have given a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, Take-Two Interactive Software currently has an average rating of "Moderate Buy" and an average price target of $238.81.

Take-Two Interactive Software Price Performance

Shares of TTWO opened at $226.49 on Friday. The company has a debt-to-equity ratio of 1.18, a quick ratio of 0.78 and a current ratio of 0.78. The firm has a market cap of $41.78 billion, a PE ratio of -8.92, a PEG ratio of 5.75 and a beta of 0.99. The firm's 50 day moving average price is $233.71 and its 200 day moving average price is $218.84. Take-Two Interactive Software has a twelve month low of $135.24 and a twelve month high of $245.07.

Insider Transactions at Take-Two Interactive Software

In other Take-Two Interactive Software news, CEO Strauss Zelnick sold 216,661 shares of Take-Two Interactive Software stock in a transaction on Friday, May 30th. The stock was sold at an average price of $225.75, for a total transaction of $48,911,220.75. Following the completion of the transaction, the chief executive officer directly owned 1,206,427 shares of the company's stock, valued at approximately $272,350,895.25. This trade represents a 15.22% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, President Karl Slatoff sold 216,661 shares of the business's stock in a transaction on Friday, May 30th. The shares were sold at an average price of $225.75, for a total transaction of $48,911,220.75. Following the completion of the sale, the president owned 1,206,427 shares in the company, valued at $272,350,895.25. This represents a 15.22% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 460,792 shares of company stock worth $104,014,443 over the last 90 days. Insiders own 1.34% of the company's stock.

Hedge Funds Weigh In On Take-Two Interactive Software

Several institutional investors have recently added to or reduced their stakes in TTWO. Clarius Group LLC acquired a new stake in shares of Take-Two Interactive Software in the first quarter valued at approximately $404,000. Mackenzie Financial Corp raised its position in shares of Take-Two Interactive Software by 13.2% during the fourth quarter. Mackenzie Financial Corp now owns 15,698 shares of the company's stock worth $2,890,000 after purchasing an additional 1,833 shares during the period. Stonebridge Financial Group LLC grew its position in shares of Take-Two Interactive Software by 3,986.2% in the 1st quarter. Stonebridge Financial Group LLC now owns 1,185 shares of the company's stock valued at $246,000 after purchasing an additional 1,156 shares during the period. Cornerstone Investment Partners LLC increased its stake in Take-Two Interactive Software by 14.1% during the 1st quarter. Cornerstone Investment Partners LLC now owns 292,616 shares of the company's stock worth $60,645,000 after purchasing an additional 36,112 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC raised its holdings in Take-Two Interactive Software by 8.4% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 15,810 shares of the company's stock worth $2,910,000 after buying an additional 1,231 shares during the period. 95.46% of the stock is owned by institutional investors.

About Take-Two Interactive Software

Take-Two Interactive Software, Inc develops, publishes, and markets interactive entertainment solutions for consumers worldwide. It develops and publishes action/adventure products under the Grand Theft Auto, LA Noire, Max Payne, Midnight Club, and Red Dead Redemption names, as well as other franchises.

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