Stock Traders Purchase High Volume of Put Options on Zynga (ZNGA)
Zynga (NASDAQ:ZNGA) was the target of unusually large options trading on Friday. Stock investors purchased 13,561 put options on the company, Stock Ratings News reports. This is an increase of 406% compared to the typical volume of 2,680 put options.
In other Zynga news, CEO Donald A. Mattrick sold 2,145,315 shares of Zynga stock on the open market in a transaction dated Wednesday, July 9th. The stock was sold at an average price of $3.02, for a total value of $6,478,851.30. The sale was disclosed in a filing with the SEC, which can be accessed through this link.
A number of analysts have recently weighed in on ZNGA shares. Analysts at Piper Jaffray cut their price target on shares of Zynga from $5.00 to $4.50 in a research note on Thursday, May 22nd. Separately, analysts at Benchmark Co. raised their price target on shares of Zynga from $3.46 to $3.52 in a research note on Thursday, April 24th. Finally, analysts at Barclays raised their price target on shares of Zynga from $4.50 to $5.00 in a research note on Thursday, April 24th. They now have an “equal weight” rating on the stock. Two research analysts have rated the stock with a sell rating, ten have assigned a hold rating and one has issued a buy rating to the stock. Zynga has an average rating of “Hold” and an average price target of $4.53.
Shares of Zynga (NASDAQ:ZNGA) traded up 3.85% during mid-day trading on Friday, hitting $3.24. 16,834,956 shares of the company’s stock traded hands. Zynga has a 52-week low of $2.72 and a 52-week high of $5.89. The stock’s 50-day moving average is $3.17 and its 200-day moving average is $4.05. The company’s market cap is $2.866 billion.
Zynga (NASDAQ:ZNGA) last released its earnings data on Wednesday, April 23rd. The company reported ($0.01) earnings per share for the quarter, meeting the analysts’ consensus estimate of ($0.01). The company had revenue of $168.00 million for the quarter, compared to the consensus estimate of $147.52 million. During the same quarter last year, the company posted $0.01 earnings per share. Zynga’s revenue was down 36.3% compared to the same quarter last year. On average, analysts predict that Zynga will post $0.02 earnings per share for the current fiscal year.
Zynga Inc (NASDAQ:ZNGA) is the provider of social game services.
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