SEB Asset Management AB Invests $8.65 Million in Take-Two Interactive Software, Inc. $TTWO

Key Points

• SEB Asset Management AB opened a new position in Take-Two Interactive Software, buying 43,786 shares valued at about $8.65 million in the first quarter.
• Several insiders sold shares recently, including Director Michael Dornemann and President Karl Slatoff; the latter sold more than 208,000 shares in a pre-arranged Rule 10b5-1 plan.
• Wall Street remains mostly upbeat on TTWO, with a Moderate Buy consensus and an average price target of $293, though Weiss Ratings maintains a sell rating.

SEB Asset Management AB purchased a new position in Take-Two Interactive Software, Inc. (NASDAQ:TTWO - Free Report) in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 43,786 shares of the company's stock, valued at approximately $8,648,000.

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

Insider Activity at Take-Two Interactive Software

In other news, Director Michael Dornemann sold 1,151 shares of the company's stock in a transaction dated Thursday, June 4th. The shares were sold at an average price of $217.02, for a total transaction of $249,790.02. Following the completion of the transaction, the director owned 20,374 shares in the company, valued at approximately $4,421,565.48. This represents a 5.35% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, President Karl Slatoff sold 208,969 shares of the stock in a transaction dated Monday, June 1st. The stock was sold at an average price of $227.34, for a total transaction of $47,507,012.46. Following the completion of the sale, the president 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 position. 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 quarter, insiders have sold 569,936 shares of company stock valued at $128,431,438. Company insiders own 1.34% of the company's stock.

Analyst Ratings Changes

TTWO has been the subject of several recent research reports. DA Davidson reiterated a "buy" rating and set a $300.00 target price on shares of Take-Two Interactive Software in a research note on Monday, June 15th. Piper Sandler restated an "overweight" rating on shares of Take-Two Interactive Software in a research report on Tuesday, June 16th. Bank of America lifted their price target on shares of Take-Two Interactive Software from $320.00 to $368.00 and gave the company a "buy" rating in a report on Tuesday, June 23rd. BTIG Research reaffirmed a "buy" rating and set a $293.00 price objective on shares of Take-Two Interactive Software in a research report on Thursday, July 2nd. Finally, Weiss Ratings reiterated a "sell (d-)" rating on shares of Take-Two Interactive Software in a research note on Friday, July 10th. One research analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $293.00.

Take-Two Interactive Software Price Performance

Shares of TTWO opened at $235.93 on Wednesday. Take-Two Interactive Software, Inc. has a 12 month low of $187.63 and a 12 month high of $265.94. 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 stock has a fifty day moving average price of $233.94 and a 200 day moving average price of $222.23. The company has a market cap of $43.81 billion, a P/E ratio of -145.63, a PEG ratio of 4.58 and a beta of 0.96.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.