Zynga Inc. (ZNGA) Short Interest Down 13.8% in September
Zynga Inc. (NASDAQ:ZNGA) was the recipient of a significant decline in short interest in the month of September. As of September 30th, there was short interest totalling 19,391,370 shares, a decline of 13.8% from the September 15th total of 22,488,191 shares. Based on an average daily trading volume, of 11,234,064 shares, the short-interest ratio is currently 1.7 days. Approximately 2.6% of the company’s shares are sold short.
In related news, VP Devang Shah sold 18,791 shares of the business’s stock in a transaction dated Monday, July 18th. The stock was sold at an average price of $2.83, for a total transaction of $53,178.53. Following the transaction, the vice president now owns 77,799 shares in the company, valued at approximately $220,171.17. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 16.60% of the stock is owned by insiders.
Hedge funds have recently made changes to their positions in the stock. TIAA CREF Investment Management LLC increased its position in Zynga by 0.6% in the first quarter. TIAA CREF Investment Management LLC now owns 2,270,869 shares of the company’s stock valued at $5,178,000 after buying an additional 14,430 shares during the period. Teachers Advisors Inc. increased its stake in shares of Zynga by 5.0% in the first quarter. Teachers Advisors Inc. now owns 657,110 shares of the company’s stock worth $1,498,000 after buying an additional 31,127 shares during the period. BlackRock Inc. increased its stake in shares of Zynga by 11.8% in the first quarter. BlackRock Inc. now owns 440,759 shares of the company’s stock worth $1,005,000 after buying an additional 46,567 shares during the period. JPMorgan Chase & Co. increased its stake in shares of Zynga by 2,280.1% in the first quarter. JPMorgan Chase & Co. now owns 3,567,526 shares of the company’s stock worth $8,134,000 after buying an additional 3,417,638 shares during the period. Finally, Canada Pension Plan Investment Board increased its stake in shares of Zynga by 1.5% in the first quarter. Canada Pension Plan Investment Board now owns 1,138,900 shares of the company’s stock worth $2,597,000 after buying an additional 16,600 shares during the period. Hedge funds and other institutional investors own 59.36% of the company’s stock.
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A number of brokerages recently issued reports on ZNGA. FBR & Co restated an “outperform” rating and set a $4.25 price target on shares of Zynga in a report on Tuesday, September 13th. Cowen and Company upgraded Zynga from a “market perform” rating to an “outperform” rating and set a $3.50 target price on the stock in a report on Wednesday, August 3rd. Jefferies Group reiterated a “buy” rating and set a $5.00 target price on shares of Zynga in a report on Tuesday, September 6th. Pacific Crest reiterated a “hold” rating on shares of Zynga in a report on Friday, August 5th. Finally, Robert W. Baird reiterated a “neutral” rating and set a $3.00 target price on shares of Zynga in a report on Saturday, August 6th. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and five have given a buy rating to the company. The company currently has an average rating of “Hold” and an average price target of $3.17.
Zynga (NASDAQ:ZNGA) opened at 2.90 on Friday. The firm’s market capitalization is $2.56 billion. Zynga has a 12-month low of $1.78 and a 12-month high of $3.04. The firm has a 50-day moving average of $2.84 and a 200 day moving average of $2.65.
Zynga Inc is a provider of social game services. The Company develops, markets and operates social games as live services played on mobile platforms, such as iPhone Operating System (iOS) and Android and social networking sites, such as Facebook. The Company operates through developing and monetizing social games segment.
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