Smithbridge Asset Management Inc. DE Cuts Position in Take-Two Interactive Software, Inc. $TTWO

Key Points

• Smithbridge Asset Management cut its Take-Two Interactive stake by 50.4% in the first quarter, leaving it with 13,781 shares worth about $2.72 million.
• Wall Street remains largely upbeat on TTWO, with multiple firms raising or reiterating bullish ratings and a consensus target price of $292.71, above the stock’s recent $250.32 trading level.
• Insider selling has been notable: President Karl Slatoff sold 208,969 shares and director Jon J. Moses sold 500 shares, bringing total insider sales over the last 90 days to 570,015 shares.

Smithbridge Asset Management Inc. DE reduced its position in Take-Two Interactive Software, Inc. (NASDAQ:TTWO - Free Report) by 50.4% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 13,781 shares of the company's stock after selling 14,024 shares during the period. Smithbridge Asset Management Inc. DE's holdings in Take-Two Interactive Software were worth $2,722,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. LBP AM SA raised its position in Take-Two Interactive Software by 298.2% in the fourth quarter. LBP AM SA now owns 64,611 shares of the company's stock valued at $16,542,000 after purchasing an additional 48,384 shares during the period. Patriot Financial Group Insurance Agency LLC lifted its stake in shares of Take-Two Interactive Software by 597.1% during the first quarter. Patriot Financial Group Insurance Agency LLC now owns 5,744 shares of the company's stock worth $1,134,000 after purchasing an additional 4,920 shares in the last quarter. Rockefeller Capital Management L.P. boosted its position in shares of Take-Two Interactive Software by 45.6% in the fourth quarter. Rockefeller Capital Management L.P. now owns 44,875 shares of the company's stock worth $11,489,000 after buying an additional 14,050 shares during the period. Fiera Capital Corp boosted its position in shares of Take-Two Interactive Software by 33.9% in the fourth quarter. Fiera Capital Corp now owns 64,403 shares of the company's stock worth $16,489,000 after buying an additional 16,314 shares during the period. Finally, Swedbank AB grew its stake in shares of Take-Two Interactive Software by 7.6% in the fourth quarter. Swedbank AB now owns 134,638 shares of the company's stock valued at $34,471,000 after buying an additional 9,556 shares in the last quarter. Hedge funds and other institutional investors own 95.46% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on TTWO. BTIG Research began coverage on Take-Two Interactive Software in a report on Wednesday, June 24th. They set a "buy" rating and a $290.00 target price on the stock. Bank of America upped their price target 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. BMO Capital Markets increased 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 research report on Thursday, June 25th. Benchmark reiterated a "buy" rating on shares of Take-Two Interactive Software in a research note on Friday, May 22nd. Finally, Piper Sandler reissued an "overweight" rating on shares of Take-Two Interactive Software in a research report on Tuesday, June 16th. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, one has given a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $292.71.

Take-Two Interactive Software Price Performance

Shares of TTWO stock opened at $250.32 on Thursday. The firm has a market cap of $46.48 billion, a P/E ratio of -154.52, a P/E/G ratio of 4.89 and a beta of 0.96. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.24 and a quick ratio of 1.24. Take-Two Interactive Software, Inc. has a 1-year low of $187.63 and a 1-year high of $264.79. The firm has a fifty day moving average of $226.06 and a two-hundred day moving average of $222.57.

Insider Buying and Selling at Take-Two Interactive Software

In related news, President Karl Slatoff sold 208,969 shares of the business'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 completion of the sale, the president directly owned 1,006,021 shares of the company's stock, valued at $228,708,814.14. The trade was a 17.20% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Jon J. Moses sold 500 shares of the company's stock in a transaction that occurred on Monday, June 15th. The shares were sold at an average price of $215.22, for a total value of $107,610.00. Following the sale, the director owned 22,368 shares in the company, valued at $4,814,040.96. The trade was a 2.19% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders have sold 570,015 shares of company stock valued at $128,432,857. Corporate 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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