Totem Point Management LLC Trims Holdings in Take-Two Interactive Software, Inc. $TTWO

Totem Point Management LLC reduced its position in shares of Take-Two Interactive Software, Inc. (NASDAQ:TTWO) by 8.3% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 39,402 shares of the company’s stock after selling 3,549 shares during the period. Take-Two Interactive Software comprises 10.1% of Totem Point Management LLC’s investment portfolio, making the stock its 5th largest holding. Totem Point Management LLC’s holdings in Take-Two Interactive Software were worth $10,088,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in TTWO. Vanguard Group Inc. increased its position in 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 valued at $5,598,914,000 after purchasing an additional 166,661 shares during the period. State Street Corp increased its position in Take-Two Interactive Software by 3.5% during the 4th quarter. State Street Corp now owns 11,402,978 shares of the company’s stock valued at $2,919,362,000 after purchasing an additional 390,331 shares during the period. Geode Capital Management LLC increased 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 valued at $1,242,204,000 after purchasing an additional 60,893 shares during the period. Norges Bank acquired a new stake in Take-Two Interactive Software during the 4th quarter valued at approximately $735,389,000. Finally, Morgan Stanley increased its position in Take-Two Interactive Software by 3.3% during the 4th quarter. Morgan Stanley now owns 2,478,143 shares of the company’s stock valued at $634,479,000 after purchasing an additional 79,428 shares during the period. 95.46% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the stock. BMO Capital Markets reissued an “outperform” rating on shares of Take-Two Interactive Software in a research report on Friday, May 22nd. Wedbush restated an “outperform” rating and set a $300.00 price target on shares of Take-Two Interactive Software in a report on Tuesday, March 3rd. Wells Fargo & Company cut their price target on Take-Two Interactive Software from $293.00 to $287.00 and set an “overweight” rating on the stock in a report on Friday, May 22nd. Benchmark reiterated a “buy” rating on shares of Take-Two Interactive Software in a report on Friday, May 22nd. Finally, Piper Sandler reissued an “overweight” rating on shares of Take-Two Interactive Software in a research report on Tuesday. One analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $287.06.

Take-Two Interactive Software News Summary

Here are the key news stories impacting Take-Two Interactive Software this week:

• Positive Sentiment: Analyst coverage has turned more bullish, with DA Davidson reiterating a buy rating and a $300 price target, while other recent notes also pointed to upside tied to the upcoming GTA VI launch. Article Title
• Positive Sentiment: Jefferies said management sees AI helping improve efficiency and mobile advertising performance, which could support margins and operating leverage ahead of the next major game cycle. Article Title
• Positive Sentiment: Take-Two is being re-rated by investors ahead of GTA VI, with commentary highlighting the large earnings potential from the launch and the possibility of additional catalysts such as trailers, marketing, and pre-orders. Article Title
• Neutral Sentiment: An insider filing showed Daniel Emerson sold 4,421 shares under a pre-arranged trading plan. That is worth noting, but the sale appears routine rather than a new negative signal. Article Title
• Negative Sentiment: There is some offsetting caution from ongoing insider selling over the past several months, which may temper enthusiasm if investors become more concerned about valuation or timing. Article Title

Insiders Place Their Bets

In related news, Director Laverne Evans Srinivasan sold 373 shares of the company’s stock in a transaction that occurred on Monday, June 1st. The stock was sold at an average price of $229.35, for a total transaction of $85,547.55. Following the completion of the transaction, the director owned 8,719 shares in the company, valued at $1,999,702.65. This represents a 4.10% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Strauss Zelnick sold 208,969 shares of the company’s stock in a transaction that occurred on Monday, June 1st. The shares were sold at an average price of $227.34, for a total value of $47,507,012.46. Following the transaction, the chief executive officer owned 1,006,021 shares of the company’s stock, valued at approximately $228,708,814.14. This represents a 17.20% decrease in their position. 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 564,596 shares of company stock valued at $127,186,572 over the last 90 days. Company insiders own 1.34% of the company’s stock.

Take-Two Interactive Software Stock Up 6.4%

TTWO stock opened at $229.97 on Wednesday. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 0.71. The firm has a market capitalization of $42.70 billion, a PE ratio of -141.96, a PEG ratio of 4.27 and a beta of 0.98. Take-Two Interactive Software, Inc. has a twelve month low of $187.63 and a twelve month high of $264.79. The stock has a 50-day simple moving average of $218.18 and a two-hundred day simple moving average of $223.00.

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.