Insider Selling: Stanley J. Meresman Sells 1,667 Shares of Zynga Stock (ZNGA)
Zynga (NASDAQ:ZNGA) Director Stanley J. Meresman sold 1,667 shares of the company’s stock on the open market in a transaction dated Tuesday, April 15th. The stock was sold at an average price of $4.06, for a total value of $6,768.02. Following the transaction, the director now directly owns 76,253 shares in the company, valued at approximately $309,587. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.
Zynga (NASDAQ:ZNGA) traded up 4.36% on Thursday, hitting $4.289. The stock had a trading volume of 39,177,484 shares. Zynga has a 52-week low of $2.50 and a 52-week high of $5.89. The stock has a 50-day moving average of $4.83 and a 200-day moving average of $4.22. The company’s market cap is $3.761 billion. Zynga also saw a large increase in short interest in January. As of March 31st, there was short interest totalling 58,345,435 shares, an increase of 9.6% from the March 14th total of 53,257,255 shares. Based on an average trading volume of 38,825,983 shares, the days-to-cover ratio is presently 1.5 days. Currently, 9.0% of the company’s stock are short sold.
Zynga (NASDAQ:ZNGA) last announced its earnings results on Thursday, January 30th. The company reported ($0.03) EPS for the quarter, beating the Thomson Reuters consensus estimate of ($0.04) by $0.01. The company had revenue of $176.36 million for the quarter, compared to the consensus estimate of $141.07 million. On average, analysts predict that Zynga will post $0.01 earnings per share for the current fiscal year.
A number of research firms have recently commented on ZNGA. Analysts at Benchmark Co. reiterated a “hold” rating on shares of Zynga in a research note on Tuesday. Separately, analysts at Telsey Advisory Group reiterated a “” rating on shares of Zynga in a research note on Friday, April 11th. They now have a $6.00 price target on the stock. Finally, analysts at Morgan Stanley upgraded shares of Zynga from an “underweight” rating to an “equal weight” rating in a research note on Friday, April 11th. Two analysts have rated the stock with a sell rating, twelve have assigned a hold rating and two have assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus target price of $4.47.
Zynga Inc (NASDAQ:ZNGA) is the provider of social game services.
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