Take-Two Interactive Software, Inc. $TTWO Shares Sold by Jennison Associates LLC

Key Points

• Jennison Associates LLC trimmed its Take-Two Interactive stake by 8.2% in the first quarter, selling 20,788 shares and leaving it with 231,409 shares worth about $45.7 million.
• Several analysts remain positive on the stock, with firms like Bank of America, Piper Sandler, and Wells Fargo reiterating bullish ratings. The consensus view is Moderate Buy, with an average price target of $293.
• Insider selling has also been notable: CEO Strauss Zelnick and insider Daniel P. Emerson sold large blocks of shares, and insiders sold a total of 569,936 shares last quarter. Despite that, the stock was up 1.0% and opened at $238.98.

Jennison Associates LLC cut its position in Take-Two Interactive Software, Inc. (NASDAQ:TTWO - Free Report) by 8.2% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 231,409 shares of the company's stock after selling 20,788 shares during the quarter. Jennison Associates LLC owned 0.12% of Take-Two Interactive Software worth $45,703,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also added to or reduced their stakes in TTWO. MCF Advisors LLC purchased a new position in Take-Two Interactive Software in the 4th quarter valued at about $25,000. GHP Investment Advisors Inc. purchased a new stake in shares of Take-Two Interactive Software during the fourth quarter worth about $28,000. Rachor Investment Advisory Services LLC purchased a new stake in shares of Take-Two Interactive Software during the fourth quarter worth about $34,000. MV Capital Management Inc. acquired a new position in shares of Take-Two Interactive Software in the fourth quarter worth about $34,000. Finally, True Wealth Design LLC lifted its stake in shares of 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 acquiring an additional 68 shares in the last quarter. 95.46% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages have weighed in on TTWO. Piper Sandler restated an "overweight" rating on shares of Take-Two Interactive Software in a research note on Tuesday, June 16th. Bank of America upped their target price on Take-Two Interactive Software from $320.00 to $368.00 and gave the company a "buy" rating in a research report on Tuesday, June 23rd. 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. BMO Capital Markets raised their price target on shares of Take-Two Interactive Software from $280.00 to $285.00 and gave the stock an "outperform" rating in a research 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, July 7th. One investment 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 stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $293.00.

Insider Activity at Take-Two Interactive Software

In other news, CEO Strauss Zelnick sold 208,969 shares of Take-Two Interactive Software stock in a transaction that occurred on 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 transaction, the chief executive officer 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Daniel P. Emerson sold 21,102 shares of the business's stock in a transaction that occurred on Tuesday, June 2nd. The shares were sold at an average price of $219.61, for a total value of $4,634,210.22. Following the completion of the sale, the insider owned 131,668 shares of the company's stock, valued at $28,915,609.48. This trade represents a 13.81% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 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. Insiders have sold a total of 569,936 shares of company stock worth $128,431,438 over the last quarter. 1.34% of the stock is owned by corporate insiders.

Take-Two Interactive Software Stock Up 1.0%

NASDAQ:TTWO opened at $238.98 on Tuesday. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.24 and a current ratio of 1.24. The company has a market capitalization of $44.37 billion, a price-to-earnings ratio of -147.52, a price-to-earnings-growth ratio of 4.54 and a beta of 0.96. Take-Two Interactive Software, Inc. has a one year low of $187.63 and a one year high of $265.94. The stock has a 50-day simple moving average of $233.74 and a 200 day simple moving average of $222.37.

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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