Sumitomo Mitsui Trust Group Inc. Purchases 21,843 Shares of Take-Two Interactive Software, Inc. $TTWO

Key Points

• Sumitomo Mitsui Trust Group increased its stake in Take-Two by 4.8%, buying 21,843 shares to own 475,623 shares (about 0.26%) valued at $121.77 million at quarter-end.
• Insider selling was significant: CEO Strauss Zelnick sold 52,054 shares for roughly $11.16 million and directors/insiders have sold 65,293 shares totaling about $13.99 million over the past 90 days, leaving insiders with 1.34% ownership.
• The stock is highly institutionally owned (95.46%), has a $37.29 billion market cap and is trading near $201 (52-week range $187.63–$264.79), while analysts on average rate it a “Moderate Buy” with a $284.31 target price.

Sumitomo Mitsui Trust Group Inc. raised its position in shares of Take-Two Interactive Software, Inc. (NASDAQ:TTWO - Free Report) by 4.8% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 475,623 shares of the company's stock after purchasing an additional 21,843 shares during the quarter. Sumitomo Mitsui Trust Group Inc. owned 0.26% of Take-Two Interactive Software worth $121,774,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Compass Wealth Management LLC purchased a new position in Take-Two Interactive Software in the 3rd quarter worth approximately $3,419,000. AGF Management Ltd. raised its holdings in Take-Two Interactive Software by 33.1% in the 3rd quarter. AGF Management Ltd. now owns 72,828 shares of the company's stock worth $18,816,000 after acquiring an additional 18,119 shares during the last quarter. M&G PLC purchased a new position in Take-Two Interactive Software in the 3rd quarter worth approximately $12,465,000. Bank of New York Mellon Corp raised its holdings in Take-Two Interactive Software by 1.9% in the 3rd quarter. Bank of New York Mellon Corp now owns 1,024,509 shares of the company's stock worth $264,692,000 after acquiring an additional 18,959 shares during the last quarter. Finally, Rakuten Investment Management Inc. purchased a new position in Take-Two Interactive Software in the 3rd quarter worth approximately $10,948,000. 95.46% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Take-Two Interactive Software

In other news, Director Michael Dornemann sold 1,390 shares of the stock in a transaction that occurred on Thursday, March 5th. The shares were sold at an average price of $213.09, for a total value of $296,195.10. Following the transaction, the director owned 21,525 shares in the company, valued at $4,586,762.25. This represents a 6.07% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Strauss Zelnick sold 52,054 shares of the stock in a transaction that occurred on Monday, March 2nd. The stock was sold at an average price of $214.40, for a total transaction of $11,160,377.60. Following the completion of the transaction, the chief executive officer owned 178,702 shares in the company, valued at $38,313,708.80. This trade represents a 22.56% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders have sold 65,293 shares of company stock worth $13,994,803. 1.34% of the stock is currently owned by corporate insiders.

Take-Two Interactive Software Price Performance

TTWO opened at $201.36 on Tuesday. The company's 50-day simple moving average is $202.42 and its two-hundred day simple moving average is $232.21. Take-Two Interactive Software, Inc. has a 52-week low of $187.63 and a 52-week high of $264.79. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.14 and a current ratio of 1.14. The stock has a market capitalization of $37.29 billion, a P/E ratio of -9.00, a P/E/G ratio of 2.94 and a beta of 0.96.

Analyst Upgrades and Downgrades

Several research firms have issued reports on TTWO. Zacks Research cut shares of Take-Two Interactive Software from a "strong-buy" rating to a "hold" rating in a research note on Thursday, February 12th. Wedbush restated an "outperform" rating and set a $300.00 target price on shares of Take-Two Interactive Software in a research note on Tuesday, March 3rd. Raymond James Financial upgraded shares of Take-Two Interactive Software from an "outperform" rating to a "strong-buy" rating and set a $285.00 target price on the stock in a research note on Tuesday, February 10th. Benchmark restated a "buy" rating on shares of Take-Two Interactive Software in a research note on Monday, February 2nd. Finally, UBS Group upped their target price on shares of Take-Two Interactive Software from $292.00 to $300.00 and gave the company a "buy" rating in a research note on Wednesday, January 28th. One analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $284.31.

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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