Tiger Global Management LLC Has $395 Million Position in Take-Two Interactive Software, Inc. $TTWO

Key Points

• Tiger Global Management cut its stake in Take-Two Interactive by 65.7% in the first quarter, but still held 2 million shares valued at about $395 million.
• Institutional ownership in TTWO remains very high at 95.46%, with major holders like Vanguard, State Street, Geode, and Invesco maintaining large positions.
• Analysts remain broadly positive on the stock, with a consensus rating of “Moderate Buy” and an average price target of $294.44, while several firms recently raised their targets.

Tiger Global Management LLC lessened its stake in shares of Take-Two Interactive Software, Inc. (NASDAQ:TTWO - Free Report) by 65.7% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,000,000 shares of the company's stock after selling 3,839,256 shares during the period. Take-Two Interactive Software accounts for 1.7% of Tiger Global Management LLC's portfolio, making the stock its 16th largest holding. Tiger Global Management LLC owned 1.08% of Take-Two Interactive Software worth $395,000,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently modified their holdings of TTWO. Vanguard Group Inc. boosted its holdings in shares of Take-Two Interactive Software by 0.8% during the 4th quarter. Vanguard Group Inc. now owns 21,868,194 shares of the company's stock worth $5,598,914,000 after buying an additional 166,661 shares during the period. State Street Corp raised its holdings in Take-Two Interactive Software by 3.5% in the 4th quarter. State Street Corp now owns 11,402,978 shares of the company's stock worth $2,919,362,000 after acquiring an additional 390,331 shares during the period. Geode Capital Management LLC lifted its position in Take-Two Interactive Software by 1.3% during the 4th quarter. Geode Capital Management LLC now owns 4,869,112 shares of the company's stock worth $1,242,204,000 after acquiring an additional 60,893 shares during the last quarter. Invesco Ltd. lifted its position in Take-Two Interactive Software by 0.6% during the 4th quarter. Invesco Ltd. now owns 2,889,144 shares of the company's stock worth $739,707,000 after acquiring an additional 16,758 shares during the last quarter. Finally, Norges Bank bought a new stake in Take-Two Interactive Software during the fourth quarter valued at about $735,389,000. Institutional investors own 95.46% of the company's stock.

Take-Two Interactive Software Stock Performance

NASDAQ:TTWO opened at $231.65 on Friday. The firm's 50-day moving average is $233.61 and its 200-day moving average is $221.98. Take-Two Interactive Software, Inc. has a 52-week low of $187.63 and a 52-week high of $265.94. 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 cap of $43.01 billion, a price-to-earnings ratio of -142.99, a PEG ratio of 4.44 and a beta of 0.96.

Analysts Set New Price Targets

Several brokerages have recently issued reports on TTWO. Benchmark reaffirmed a "buy" rating on shares of Take-Two Interactive Software in a research report on Friday, May 22nd. BMO Capital Markets increased their target price on Take-Two Interactive Software from $280.00 to $285.00 and gave the company an "outperform" rating in a research note on Thursday, June 25th. Piper Sandler reaffirmed an "overweight" rating on shares of Take-Two Interactive Software in a report on Tuesday, June 16th. DA Davidson reaffirmed a "buy" rating and issued a $300.00 price target on shares of Take-Two Interactive Software in a research report on Monday, June 15th. Finally, 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. One investment analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, Take-Two Interactive Software has an average rating of "Moderate Buy" and a consensus target price of $294.44.

Insiders Place Their Bets

In related news, Director Michael Dornemann sold 1,151 shares of Take-Two Interactive Software stock in a transaction dated Thursday, June 4th. The stock was sold at an average price of $217.02, for a total transaction of $249,790.02. Following the sale, the director directly owned 20,374 shares of the company's stock, valued at $4,421,565.48. This trade represents a 5.35% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available 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 transaction, the president owned 40,358 shares in the company, valued at $8,720,960.22. This represents a 50.00% 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. Insiders have sold 569,936 shares of company stock valued at $128,431,438 in the last quarter. 1.34% of the stock is currently owned by insiders.

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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