NEW YORK—Lainie Goldstein, Chief Financial Officer of Take-Two Interactive (NASDAQ:TTWO) Software (ETR:SOWGn) Inc. (NASDAQ:TTWO), recently sold 1,131 shares of the company's common stock. The transaction, which took place on December 2, 2024, was valued at approximately $212,220, with shares sold at an average price of $187.64 each. The sale comes as Take-Two, now valued at $33.05 billion, trades near its 52-week high of $190.43. According to InvestingPro analysis, technical indicators suggest the stock is currently in overbought territory.
The sale was executed as part of a Rule 10b5-1 "sell to cover" plan, specifically designed to meet tax withholding obligations related to the settlement of previously granted restricted stock units. This transaction was not a discretionary trade by Goldstein. The stock has shown strong momentum, delivering a 19.36% return over the past year. Unlock more insights and 12+ additional ProTips with an InvestingPro subscription.
Following the sale, Goldstein retains ownership of 310,992 shares, which include 95,441 shares of common stock, 29,967 unvested time-based restricted stock units, and 185,584 unvested performance-based restricted stock units. These unvested awards are subject to vesting conditions as outlined in the respective award agreements. With the stock trading at $188.17, Goldstein's total retained position represents significant value in a company that has delivered strong returns, with the stock up 13.32% over the past six months.
In other recent news, Take-Two Interactive has been in the spotlight with its fiscal second-quarter earnings for the year 2025 and optimistic growth projections. TD Cowen and Roth/MKM analysts have shown confidence in the company, raising their stock price targets, reflecting expectations of a significant increase in bookings and earnings per share (EPS) starting in 2025. The anticipated improvement in cash flow is expected to facilitate debt reduction and position Take-Two for potential mergers and acquisitions.
Take-Two's position as a global leader in the video game industry has been highlighted, with emphasis on its strong pipeline of titles, including the much-anticipated Grand Theft Auto VI (GTA VI), Borderlands 4, and Civilization VII. The online mode of the upcoming GTA VI, in particular, is expected to contribute significantly to the company's future growth.
The company's recent earnings call, led by CEO Strauss Zelnick, indicated plans and expectations for the company's future operations. While no specific financial misses or shortfalls were detailed, the discussion suggested a positive outlook. These are some of the recent developments surrounding Take-Two Interactive.
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