Sumitomo Mitsui Trust Group Inc. Cuts Stock Holdings in Take-Two Interactive Software, Inc. $TTWO

Key Points

• Sumitomo Mitsui Trust Group Inc. trimmed its Take-Two Interactive stake by 5.0% in the first quarter, selling 23,618 shares and leaving it with 452,005 shares worth about $89.3 million.
• Despite that sale, institutional ownership remains heavy, with hedge funds and other institutions holding about 95.46% of Take-Two’s stock overall. Several other funds also increased their positions during the quarter.
• Analysts remain bullish on TTWO, with a consensus “Moderate Buy” rating and an average price target of $293. Recent targets from firms such as Bank of America and DA Davidson were also raised or reaffirmed above the current share price.

Sumitomo Mitsui Trust Group Inc. lowered its position in shares of Take-Two Interactive Software, Inc. (NASDAQ:TTWO - Free Report) by 5.0% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 452,005 shares of the company's stock after selling 23,618 shares during the period. Sumitomo Mitsui Trust Group Inc. owned approximately 0.24% of Take-Two Interactive Software worth $89,271,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently added to or reduced their stakes in the company. Resona Asset Management Co. Ltd. raised its holdings in Take-Two Interactive Software by 1.5% in the 1st quarter. Resona Asset Management Co. Ltd. now owns 57,805 shares of the company's stock worth $11,367,000 after acquiring an additional 879 shares during the last quarter. Mitsubishi UFJ Morgan Stanley Securities Co. Ltd. boosted its stake in Take-Two Interactive Software by 5.7% during the 1st quarter. Mitsubishi UFJ Morgan Stanley Securities Co. Ltd. now owns 963 shares of the company's stock valued at $190,000 after purchasing an additional 52 shares during the last quarter. Munich Reinsurance Co Stock Corp in Munich increased its holdings in shares of Take-Two Interactive Software by 111.5% in the 1st quarter. Munich Reinsurance Co Stock Corp in Munich now owns 14,377 shares of the company's stock worth $2,839,000 after purchasing an additional 7,579 shares in the last quarter. Oregon Public Employees Retirement Fund raised its stake in shares of Take-Two Interactive Software by 0.4% in the first quarter. Oregon Public Employees Retirement Fund now owns 19,910 shares of the company's stock worth $3,932,000 after purchasing an additional 72 shares during the last quarter. Finally, Frank Rimerman Advisors LLC raised its stake in shares of Take-Two Interactive Software by 18.5% in the first quarter. Frank Rimerman Advisors LLC now owns 2,050 shares of the company's stock worth $405,000 after purchasing an additional 320 shares during the last quarter. 95.46% of the stock is currently owned by hedge funds and other institutional investors.

Take-Two Interactive Software Stock Performance

Shares of NASDAQ TTWO traded down $2.90 during midday trading on Friday, hitting $243.20. 2,248,309 shares of the stock traded hands, compared to its average volume of 2,833,908. The firm has a 50-day moving average of $231.42 and a two-hundred day moving average of $223.12. The firm has a market capitalization of $45.15 billion, a P/E ratio of -150.12, a PEG ratio of 4.72 and a beta of 0.96. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.24 and a current ratio of 1.24. Take-Two Interactive Software, Inc. has a one year low of $187.63 and a one year high of $265.94.

Analysts Set New Price Targets

Several equities research analysts recently commented on TTWO shares. 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. DA Davidson reissued a "buy" rating and issued a $300.00 target price on shares of Take-Two Interactive Software in a research report on Monday, June 15th. Bank of America upped their target price on shares of Take-Two Interactive Software from $320.00 to $368.00 and gave the company a "buy" rating in a research note on Tuesday, June 23rd. BMO Capital Markets raised their price target 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, Wells Fargo & Company lifted their price target on shares of Take-Two Interactive Software from $287.00 to $289.00 and gave the stock an "overweight" rating in a research note on Tuesday. One 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 issued a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $293.00.

Insider Activity at Take-Two Interactive Software

In other Take-Two Interactive Software news, Director Michael Dornemann sold 1,151 shares of the firm's stock in a transaction dated Thursday, June 4th. The stock was sold at an average price of $217.02, for a total value of $249,790.02. Following the transaction, the director directly owned 20,374 shares of the company's stock, valued at approximately $4,421,565.48. This trade represents a 5.35% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, President Karl Slatoff sold 40,358 shares of the business's stock in a transaction dated Wednesday, June 3rd. The shares were sold at an average price of $216.09, for a total value of $8,720,960.22. Following the sale, the president owned 40,358 shares of the company's stock, valued at approximately $8,720,960.22. This represents a 50.00% 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. Insiders have sold 570,349 shares of company stock valued at $128,517,202 in the last 90 days. 1.34% of the stock is owned by company insiders.

Take-Two Interactive Software 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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