Take-Two Interactive exec sells over $13m in company stock

In a recent transaction, Karl Slatoff, President of Take-Two (NASDAQ:TTWO) Interactive Software Inc. (NASDAQ:TTWO), sold a significant amount of company stock, totaling over $13 million. The sales were executed on April 12, 2024, with the prices of the shares ranging between $147.60 and $149.54.

The transactions involved the sale of 35,401 shares at an average price of $147.60, 25,809 shares at an average price of $148.67, and 29,641 shares at an average price of $149.54. This series of sales resulted in a total of $13,494,773 in proceeds for the executive. These sales were made according to a pre-arranged Rule 10b5-1 trading plan, which allows company insiders to sell shares at predetermined times to avoid accusations of trading on non-public, material information.

Additionally, there was a forfeiture of 18,876 performance-based restricted units due to the failure to meet certain performance conditions. This forfeiture did not have an associated dollar value. It's also noted that Slatoff received 17,167 shares as part of a distribution from ZelnickMedia Corporation, where he is a partner. These shares were previously indirectly beneficially owned by Slatoff through ZelnickMedia and are now held directly.

Investors often monitor insider transactions as they can provide insights into executives' perspectives on the company's performance and future. However, it's important to note that such transactions do not always indicate a change in company outlook and can be motivated by a variety of personal financial considerations.

Take-Two Interactive Software Inc. is known for developing, publishing, and marketing interactive entertainment for consumers around the globe. The company's portfolio includes popular game franchises and is headquartered in New York, NY.

Following the recent insider transactions at Take-Two Interactive Software Inc. (NASDAQ:TTWO), investors are keenly observing the company's financial metrics for a clearer investment picture. According to real-time data from InvestingPro, Take-Two Interactive boasts a market capitalization of $24.81 billion, signaling a significant position in the interactive entertainment industry.

Despite a challenging period, with the company not being profitable over the last twelve months, analysts are optimistic, as reflected in the InvestingPro Tips. They predict that Take-Two Interactive will return to profitability this year. This could be a pivotal turnaround, considering the company's current negative P/E ratio of -16.95, and an even more pronounced adjusted P/E ratio for the last twelve months as of Q3 2024, which stands at -56.51.

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The company's revenue growth also presents a mixed picture. While there has been a notable year-over-year increase of 11.64% in revenue, reaching $5396.4 million, the quarterly revenue growth has declined by -2.95%. This juxtaposition of financial data points to a complex fiscal landscape that the company navigates.

For those looking to delve deeper into Take-Two Interactive's financials and future prospects, InvestingPro offers additional insights. There are 6 more InvestingPro Tips available that could further inform investment decisions. Interested readers can make use of the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription, providing access to these valuable tips and comprehensive analyses.

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