Take-Two Interactive Software (NASDAQ:TTWO) Coverage Initiated by Analysts at Wells Fargo & Company

Key Points

• Wells Fargo & Company has initiated coverage on Take-Two Interactive Software with an "overweight" rating and a price target of $265.00, indicating a potential upside of 17.91% from its previous close.
• Numerous other firms have also set price targets for Take-Two, with JPMorgan and DA Davidson raising theirs to $250.00 and $270.00 respectively, reflecting positive sentiment among analysts.
• Insiders have recently sold significant amounts of shares, with President Karl Slatoff selling over 216,000 shares valued at approximately $48.9 million, indicating a potential shift in insider confidence.

Investment analysts at Wells Fargo & Company began coverage on shares of Take-Two Interactive Software (NASDAQ:TTWO - Get Free Report) in a research report issued to clients and investors on Monday, Marketbeat.com reports. The firm set an "overweight" rating and a $265.00 price target on the stock. Wells Fargo & Company's target price would indicate a potential upside of 17.20% from the stock's previous close.

Several other research analysts also recently commented on TTWO. Wall Street Zen downgraded shares of Take-Two Interactive Software from a "hold" rating to a "sell" rating in a research report on Wednesday, May 21st. Benchmark boosted their price objective on shares of Take-Two Interactive Software from $225.00 to $250.00 and gave the company a "buy" rating in a research report on Friday, May 16th. Raymond James Financial restated an "outperform" rating and set a $250.00 price objective (up from $240.00) on shares of Take-Two Interactive Software in a research report on Friday, May 16th. Morgan Stanley boosted their price objective on shares of Take-Two Interactive Software from $210.00 to $265.00 and gave the company an "overweight" rating in a research report on Monday, May 19th. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Take-Two Interactive Software from $225.00 to $250.00 and gave the company an "overweight" rating in a research report on Friday, May 16th. One analyst has rated the stock with a sell rating, one has given a hold rating, nineteen have assigned a buy rating and two have issued a strong buy rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $234.05.

Take-Two Interactive Software Price Performance

Shares of NASDAQ TTWO traded up $1.35 during midday trading on Monday, reaching $226.10. The company's stock had a trading volume of 1,421,547 shares, compared to its average volume of 1,727,316. Take-Two Interactive Software has a fifty-two week low of $135.24 and a fifty-two week high of $245.07. The company has a market cap of $40.12 billion, a P/E ratio of -8.91, a P/E/G ratio of 5.85 and a beta of 1.03. The company has a debt-to-equity ratio of 1.18, a quick ratio of 0.78 and a current ratio of 0.78. The business's 50 day moving average price is $234.18 and its two-hundred day moving average price is $217.01.

Insiders Place Their Bets

In other Take-Two Interactive Software news, insider Daniel P. Emerson sold 27,056 shares of the stock in a transaction dated Monday, June 2nd. The stock was sold at an average price of $225.22, for a total transaction of $6,093,552.32. Following the completion of the sale, the insider directly owned 152,271 shares in the company, valued at approximately $34,294,474.62. This trade represents a 15.09% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, President Karl Slatoff sold 216,661 shares of the stock in a transaction dated Friday, May 30th. The stock was sold at an average price of $225.75, for a total value of $48,911,220.75. Following the sale, the president owned 1,206,427 shares of the company's stock, valued at approximately $272,350,895.25. The trade was a 15.22% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 460,792 shares of company stock valued at $104,014,443. 1.45% of the stock is currently owned by insiders.

Institutional Trading of Take-Two Interactive Software

A number of large investors have recently bought and sold shares of TTWO. Commonwealth Equity Services LLC boosted its position in shares of Take-Two Interactive Software by 3.4% during the 4th quarter. Commonwealth Equity Services LLC now owns 7,612 shares of the company's stock worth $1,401,000 after purchasing an additional 253 shares in the last quarter. Teacher Retirement System of Texas bought a new position in shares of Take-Two Interactive Software during the 4th quarter worth about $302,000. LPL Financial LLC boosted its position in shares of Take-Two Interactive Software by 8.6% during the 4th quarter. LPL Financial LLC now owns 100,872 shares of the company's stock worth $18,569,000 after purchasing an additional 7,949 shares in the last quarter. Korea Investment CORP boosted its position in shares of Take-Two Interactive Software by 229.5% during the 4th quarter. Korea Investment CORP now owns 79,493 shares of the company's stock worth $14,633,000 after purchasing an additional 55,367 shares in the last quarter. Finally, Nomura Asset Management Co. Ltd. boosted its position in shares of Take-Two Interactive Software by 1.9% during the 4th quarter. Nomura Asset Management Co. Ltd. now owns 57,385 shares of the company's stock worth $10,563,000 after purchasing an additional 1,079 shares in the last quarter. 95.46% of the stock is currently owned by institutional investors and hedge funds.

About Take-Two Interactive Software

Take-Two Interactive Software, Inc develops, publishes, and markets interactive entertainment solutions for consumers worldwide. It develops and publishes action/adventure products under the Grand Theft Auto, LA Noire, Max Payne, Midnight Club, and Red Dead Redemption names, as well as other franchises.