Allspring Global Investments Holdings LLC Sells 110,083 Shares of Take-Two Interactive Software, Inc. $TTWO

Key Points

• Allspring Global Investments sharply reduced its Take-Two Interactive stake by 92% in the first quarter, selling 110,083 shares and ending with 9,548 shares valued at about $1.89 million.
• Analysts remain broadly bullish on TTWO, with several firms raising price targets and the consensus rating sitting at Moderate Buy with an average target price of $294.44.
• Take-Two also saw recent insider selling, including sales by Director Jon J. Moses and insider Daniel P. Emerson, while the stock traded at $231.65 and is up 0.6% in the session mentioned.

Allspring Global Investments Holdings LLC cut its stake in shares of Take-Two Interactive Software, Inc. (NASDAQ:TTWO - Free Report) by 92.0% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 9,548 shares of the company's stock after selling 110,083 shares during the period. Allspring Global Investments Holdings LLC's holdings in Take-Two Interactive Software were worth $1,892,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of TTWO. MCF Advisors LLC bought a new position in shares of Take-Two Interactive Software in the fourth quarter worth about $25,000. GHP Investment Advisors Inc. bought a new stake in Take-Two Interactive Software during the 4th quarter worth approximately $28,000. Rachor Investment Advisory Services LLC bought a new position in shares of Take-Two Interactive Software in the fourth quarter worth approximately $34,000. MV Capital Management Inc. bought a new position in shares of Take-Two Interactive Software in the fourth quarter worth approximately $34,000. Finally, Reflection Asset Management purchased a new stake in shares of Take-Two Interactive Software in the fourth quarter worth $40,000. Institutional investors own 95.46% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on TTWO. Wells Fargo & Company lifted their target price on shares of Take-Two Interactive Software from $287.00 to $289.00 and gave the company an "overweight" rating in a research note on Tuesday, July 7th. Benchmark reiterated a "buy" rating on shares of Take-Two Interactive Software in a research note on Friday, May 22nd. BMO Capital Markets raised their price target on Take-Two Interactive Software from $280.00 to $285.00 and gave the company an "outperform" rating in a report on Thursday, June 25th. Bank of America boosted their price objective on Take-Two Interactive Software from $320.00 to $368.00 and gave the company a "buy" rating in a research report on Tuesday, June 23rd. Finally, BTIG Research reaffirmed a "buy" rating and issued a $293.00 price objective on shares of Take-Two Interactive Software in a research note on Thursday, July 2nd. One analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $294.44.

Insider Transactions at Take-Two Interactive Software

In related news, Director Jon J. Moses sold 500 shares of the firm's stock in a transaction that occurred on Monday, June 22nd. The stock was sold at an average price of $244.61, for a total transaction of $122,305.00. Following the completion of the sale, the director directly owned 21,868 shares of the company's stock, valued at approximately $5,349,131.48. This trade represents a 2.24% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Daniel P. Emerson sold 4,419 shares of Take-Two Interactive Software stock in a transaction on Tuesday, June 16th. The stock was sold at an average price of $230.00, for a total value of $1,016,370.00. Following the sale, the insider owned 113,988 shares of the company's stock, valued at approximately $26,217,240. This trade represents a 3.73% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders have sold 569,936 shares of company stock worth $128,431,438. 1.34% of the stock is currently owned by insiders.

Take-Two Interactive Software Stock Up 0.6%

NASDAQ TTWO opened at $231.65 on Friday. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 0.71. The company has a fifty day moving average of $233.61 and a two-hundred day moving average of $221.98. The firm has a market capitalization of $43.01 billion, a price-to-earnings ratio of -142.99, a PEG ratio of 4.44 and a beta of 0.96. Take-Two Interactive Software, Inc. has a 52 week low of $187.63 and a 52 week high of $265.94.

Take-Two Interactive Software Company Profile

Take-Two Interactive Software is an American video game publisher headquartered in New York City. Founded in 1993 by Ryan Brant, the company is publicly traded on the NASDAQ under the ticker TTWO and is led by Chairman and CEO Strauss Zelnick. Take-Two operates through distinct publishing labels that manage development, marketing and distribution of interactive entertainment for a global audience.

Take-Two's publishing portfolio includes Rockstar Games and 2K, as well as the Private Division label, which supports independent and mid-size developers.

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