Pictet Asset Management Holding SA Purchases 79,224 Shares of Take-Two Interactive Software, Inc. $TTWO

Key Points

• Pictet Asset Management Holding SA increased its stake in Take-Two Interactive Software by 74.8% in the first quarter, buying 79,224 additional shares and bringing its total holding to 185,189 shares worth about $36.6 million.
• Take-Two shares were up 1.1% in Wednesday trading, opening at $249.98, with the stock trading between a 52-week low of $187.63 and high of $264.79.
• Wall Street remains broadly optimistic on TTWO, with analysts mostly rating it Buy/Overweight and a consensus price target of $292.71, even as insiders have sold a sizeable amount of stock in recent months.

Pictet Asset Management Holding SA raised its position in shares of Take-Two Interactive Software, Inc. (NASDAQ:TTWO - Free Report) by 74.8% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 185,189 shares of the company's stock after buying an additional 79,224 shares during the quarter. Pictet Asset Management Holding SA owned about 0.10% of Take-Two Interactive Software worth $36,560,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. MCF Advisors LLC bought a new position in shares of Take-Two Interactive Software during the 4th quarter worth approximately $25,000. GHP Investment Advisors Inc. acquired a new stake in Take-Two Interactive Software in the fourth quarter valued at approximately $28,000. Rachor Investment Advisory Services LLC acquired a new position in shares of Take-Two Interactive Software during the fourth quarter worth $34,000. MV Capital Management Inc. purchased a new stake in shares of Take-Two Interactive Software during the 4th quarter valued at $34,000. Finally, True Wealth Design LLC lifted its holdings in shares of Take-Two Interactive Software by 91.9% during the 4th quarter. True Wealth Design LLC now owns 142 shares of the company's stock valued at $36,000 after purchasing an additional 68 shares during the last quarter. 95.46% of the stock is currently owned by institutional investors.

Take-Two Interactive Software Trading Up 1.1%

NASDAQ TTWO opened at $249.98 on Wednesday. Take-Two Interactive Software, Inc. has a 1 year low of $187.63 and a 1 year high of $264.79. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.24 and a quick ratio of 1.24. The company has a market capitalization of $46.41 billion, a PE ratio of -154.31, a P/E/G ratio of 4.89 and a beta of 0.98. The company has a fifty day moving average of $225.39 and a 200 day moving average of $222.51.

Wall Street Analyst Weigh In

TTWO has been the topic of several research analyst reports. Piper Sandler restated an "overweight" rating on shares of Take-Two Interactive Software in a research note on Tuesday, June 16th. Benchmark reissued a "buy" rating on shares of Take-Two Interactive Software in a report on Friday, May 22nd. Bank of America boosted their price target on Take-Two Interactive Software from $320.00 to $368.00 and gave the stock a "buy" rating in a research note on Tuesday, June 23rd. BMO Capital Markets upped their price objective on shares of 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 restated a "buy" rating and set a $300.00 price objective on shares of Take-Two Interactive Software in a report on Monday, June 15th. One analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, one has assigned 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 price target of $292.71.

Insider Buying and Selling at Take-Two Interactive Software

In other news, insider Daniel P. Emerson sold 21,102 shares of the business's stock in a transaction dated Tuesday, June 2nd. The stock was sold at an average price of $219.61, for a total value of $4,634,210.22. Following the completion of the transaction, the insider owned 131,668 shares of the company's stock, valued at $28,915,609.48. The trade was a 13.81% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO Strauss Zelnick sold 208,969 shares of the firm's stock in a transaction dated Monday, June 1st. The stock was sold at an average price of $227.34, for a total value of $47,507,012.46. Following the sale, the chief executive officer directly owned 1,006,021 shares in the company, valued at approximately $228,708,814.14. This trade represents a 17.20% 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. In the last three months, insiders have sold 570,015 shares of company stock worth $128,432,857. Insiders own 1.34% of the company's stock.

About Take-Two Interactive Software

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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