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Strauss Zelnick, Chairman and CEO of Take-Two Interactive Software (ETR:SOWGn) Inc. (NASDAQ:TTWO), sold a significant portion of his holdings in the company. On May 30, 2025, Zelnick sold a total of 215,661 shares of common stock through ZMC Advisors, L.P., generating approximately $48.9 million. The shares were sold at prices ranging from $224.97 to $226.45 per share. The transaction comes as TTWO trades near its 52-week high of $240.78, with the stock delivering an impressive 39% return over the past year.
The sales were conducted under a Rule 10b5-1 trading plan that ZMC Advisors adopted on November 12, 2024. This plan was related to the vesting of restricted units granted under a management agreement. The proceeds from these sales were intended to cover the tax obligations arising from the vesting of restricted units. According to InvestingPro data, Take-Two currently commands a market capitalization of $42 billion, with analysts forecasting a return to profitability this year despite recent losses.
Additionally, Zelnick received 135,985 shares through a distribution from ZMC Advisors, which he then transferred to the Zelnick/Belzberg Living Trust. These transactions were conducted without any financial consideration.
On June 2, 2025, ZMC Advisors received a grant of 372,577 restricted units, which are subject to a vesting schedule extending to 2028. These grants include time-based and performance-based restricted units, as outlined in the company’s recent regulatory filings.
In other recent news, Take-Two Interactive Software announced a public offering of 4,750,000 shares of common stock priced at $225 each, potentially raising up to $1.19 billion if underwriters fully exercise their option to purchase additional shares. The company plans to use the proceeds for general corporate purposes, which may include debt repayment and financing acquisitions. The offering, led by J.P. Morgan Securities LLC and Goldman Sachs & Co. LLC, is expected to close on May 22, 2025, pending customary conditions. Analysts from Goldman Sachs have increased the price target for Take-Two to $255, maintaining a Buy rating, citing strong performance in recent titles and positive management commentary. Similarly, TD Cowen raised their price target to $249, also reiterating a Buy rating, following strong fourth-quarter bookings and better-than-expected mobile game results. Despite the delay of Grand Theft Auto VI to fiscal year 2027, both firms express confidence in Take-Two’s future releases and operational strategy. Investors are keenly observing the outcome of the stock offering and its implications for the company’s financial strategy.
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