Insider Selling: William B. Gordon Sells 500,000 Shares of Zynga Stock (ZNGA)
Zynga (NASDAQ:ZNGA) Director William B. Gordon sold 500,000 shares of Zynga stock in a transaction that occurred on Tuesday, August 19th. The shares were sold at an average price of $3.01, for a total value of $1,505,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.
Shares of Zynga (NASDAQ:ZNGA) traded up 0.32% during mid-day trading on Wednesday, hitting $3.12. The stock had a trading volume of 14,582,734 shares. Zynga has a one year low of $2.70 and a one year high of $5.89. The stock has a 50-day moving average of $3.00 and a 200-day moving average of $3.86. The company’s market cap is $2.795 billion.
Zynga (NASDAQ:ZNGA) last announced its earnings results on Thursday, August 7th. The company reported ($0.07) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.03) by $0.04. The company had revenue of $153.00 million for the quarter, compared to the consensus estimate of $191.21 million. During the same quarter in the previous year, the company posted ($0.01) earnings per share. The company’s revenue for the quarter was down 33.7% on a year-over-year basis. On average, analysts predict that Zynga will post $-0.01 earnings per share for the current fiscal year.
ZNGA has been the subject of a number of recent research reports. Analysts at Wedbush cut their price target on shares of Zynga from $7.00 to $6.00 in a research note on Friday, August 8th. Separately, analysts at Benchmark Co. cut their price target on shares of Zynga from $3.08 to $2.83 in a research note on Friday, August 8th. Finally, analysts at BMO Capital Markets cut their price target on shares of Zynga from $4.50 to $3.25 in a research note on Friday, August 8th. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating and one has assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus price target of $3.85.
Zynga Inc (NASDAQ:ZNGA) is the provider of social game services.
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