California Public Employees Retirement System Sells 76,189 Shares of Take-Two Interactive Software, Inc. $TTWO

Key Points

• CalPERS reduced its stake in Take-Two Interactive by 24.2% in the first quarter, selling 76,189 shares and leaving it with 238,705 shares worth about $47.1 million.
• Institutional ownership remains very high, with 95.46% of TTWO shares held by institutional investors, even as several other funds added to or adjusted positions.
• Insiders have also been selling shares, including director Ellen F. Siminoff and President Karl Slatoff, while analysts remain mostly bullish overall with a consensus rating of “Moderate Buy” and an average target price of $293.

California Public Employees Retirement System lessened its stake in shares of Take-Two Interactive Software, Inc. (NASDAQ:TTWO - Free Report) by 24.2% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 238,705 shares of the company's stock after selling 76,189 shares during the quarter. California Public Employees Retirement System owned about 0.13% of Take-Two Interactive Software worth $47,144,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in TTWO. Integrated Wealth Concepts LLC purchased a new position in shares of Take-Two Interactive Software during the first quarter valued at approximately $425,000. Empowered Funds LLC boosted its holdings in Take-Two Interactive Software by 13.2% in the first quarter. Empowered Funds LLC now owns 3,322 shares of the company's stock worth $688,000 after purchasing an additional 388 shares during the last quarter. Geneos Wealth Management Inc. boosted its holdings in Take-Two Interactive Software by 118.7% in the first quarter. Geneos Wealth Management Inc. now owns 304 shares of the company's stock worth $63,000 after purchasing an additional 165 shares during the last quarter. Arrowstreet Capital Limited Partnership bought a new stake in Take-Two Interactive Software in the 2nd quarter worth approximately $2,747,000. Finally, Jump Financial LLC grew its position in Take-Two Interactive Software by 105.3% in the 2nd quarter. Jump Financial LLC now owns 7,115 shares of the company's stock worth $1,728,000 after purchasing an additional 3,650 shares during the period. 95.46% of the stock is currently owned by institutional investors.

Take-Two Interactive Software Stock Up 1.0%

Shares of TTWO stock opened at $238.98 on Tuesday. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 0.71. Take-Two Interactive Software, Inc. has a 12 month low of $187.63 and a 12 month high of $265.94. The stock has a market cap of $44.37 billion, a P/E ratio of -147.52, a P/E/G ratio of 4.54 and a beta of 0.96. The company has a 50 day simple moving average of $233.74 and a two-hundred day simple moving average of $222.37.

Insider Activity

In other news, Director Ellen F. Siminoff sold 334 shares of the business's stock in a transaction on Wednesday, July 1st. The shares were sold at an average price of $252.53, for a total transaction of $84,345.02. Following the completion of the sale, the director owned 1,833 shares of the company's stock, valued at $462,887.49. The trade was a 15.41% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, President Karl Slatoff sold 40,358 shares of the company's stock in a transaction on Wednesday, June 3rd. The stock was sold at an average price of $216.09, for a total value of $8,720,960.22. Following the completion of the sale, the president owned 40,358 shares of the company's stock, valued at $8,720,960.22. This trade represents a 50.00% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders have sold 569,936 shares of company stock worth $128,431,438. Company insiders own 1.34% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the company. Benchmark reissued a "buy" rating on shares of Take-Two Interactive Software in a report on Friday, May 22nd. Bank of America lifted their price objective on Take-Two Interactive Software from $320.00 to $368.00 and gave the stock a "buy" rating in a report on Tuesday, June 23rd. Weiss Ratings reiterated a "sell (d-)" rating on shares of Take-Two Interactive Software in a research report on Friday, July 10th. BMO Capital Markets increased their target price 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. Finally, DA Davidson reissued a "buy" rating and issued a $300.00 target price on shares of Take-Two Interactive Software in a report on Monday, June 15th. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $293.00.

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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