Insider Selling: Devang Shah Sells 8,286 Shares of Zynga Stock (ZNGA)
Zynga (NASDAQ:ZNGA) VP Devang Shah sold 8,286 shares of Zynga stock on the open market in a transaction dated Monday, August 18th. The shares were sold at an average price of $3.01, for a total value of $24,940.86. Following the transaction, the vice president now directly owns 137,608 shares in the company, valued at approximately $414,200. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link.
Zynga (NASDAQ:ZNGA) opened at 3.12 on Thursday. Zynga has a 1-year low of $2.70 and a 1-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 quarterly earnings data on Thursday, August 7th. The company reported ($0.07) EPS for the quarter, missing the Thomson Reuters 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 prior year, the company posted ($0.01) earnings per share. The company’s quarterly revenue was down 33.7% on a year-over-year basis. Analysts expect that Zynga will post $-0.01 EPS for the current fiscal year.
A number of analysts have recently weighed in on ZNGA shares. 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 issued a hold rating and one has assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average price target of $3.85.
Zynga Inc (NASDAQ:ZNGA) is the provider of social game services.
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