Take-Two (NASDAQ:TTWO) Interactive Software Inc. (NASDAQ:TTWO) Chief Legal Officer, Daniel P. Emerson (NYSE:EMR), has recently engaged in significant transactions involving the company's stock, according to the latest filings. Emerson sold a total of 12,745 shares of Take-Two Interactive 's common stock, netting over $2 million in the process.
The sales occurred on June 3 and June 4, with 8,485 shares sold at an average price of $162.052 and 4,260 shares at $163.06, respectively. These transactions are part of a pre-arranged trading plan under Rule 10b5-1, which allows company insiders to sell shares at predetermined times to avoid accusations of trading on non-public information.
Additionally, Emerson's activity included the forfeiture of 9,809 performance-based restricted units due to unmet performance conditions and the grant of 47,376 restricted units under the company's 2017 Stock Incentive Plan. The newly granted restricted units comprise both time-based and performance-based awards, with the latter contingent on the achievement of specific company targets.
The filings also note that Emerson's ownership following these transactions includes 155,576 shares, comprising both direct holdings and unvested restricted stock units, which will vest according to the terms of the applicable award agreements.
Investors often keep a close eye on insider transactions as they can provide insights into an executive's view of the company's future prospects. In the case of Take-Two Interactive, these recent filings offer a snapshot of the trading activities of one of its top executives.
InvestingPro Insights
As Take-Two Interactive Software Inc. (NASDAQ:TTWO) navigates through a period of insider transactions, investors are keen to understand the underlying financial health and market sentiment of the company. According to InvestingPro data, Take-Two boasts a significant market capitalization of $28.4 billion, reflecting its stature in the gaming industry.
Despite recent insider sales, the company has seen a notable 1-year price total return of 18.99%, suggesting a robust long-term investor confidence. However, the company's P/E ratio stands at -7.53, indicating that it has been operating at a loss over the last twelve months as of Q4 2023. This is further emphasized by the adjusted P/E ratio, which has deepened to -27.47 for the same period. Additionally, the company's revenue has seen a slight decline of 0.01% over the last twelve months as of Q4 2023.
InvestingPro Tips highlight that analysts have revised their earnings expectations downwards for the upcoming period, which may warrant investor caution. Moreover, the stock is currently in overbought territory according to the RSI metric, suggesting potential for a future pullback in price. For investors seeking more comprehensive analysis and additional insights, there are 11 more InvestingPro Tips available for Take-Two Interactive, which can be accessed by visiting their dedicated page on InvestingPro.
For those looking to delve deeper into the financial metrics and forecasts for Take-Two Interactive, consider utilizing the InvestingPro platform. Use coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription, unlocking a wealth of data and analytics to inform your investment decisions.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.