Zynga Target of Unusually Large Options Trading (ZNGA)
Zynga Inc (NASDAQ:ZNGA) was the target of unusually large options trading activity on Friday. Investors bought 11,990 call options on the company. This represents an increase of 664% compared to the average daily volume of 1,570 call options.
In other Zynga news, CEO Frank D. Gibeau sold 167,440 shares of the business’s stock in a transaction dated Thursday, March 16th. The shares were sold at an average price of $2.73, for a total value of $457,111.20. Following the completion of the transaction, the chief executive officer now directly owns 1,115,834 shares in the company, valued at $3,046,226.82. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Ellen F. Siminoff sold 12,000 shares of the business’s stock in a transaction dated Monday, May 1st. The stock was sold at an average price of $2.91, for a total transaction of $34,920.00. Following the completion of the transaction, the director now owns 177,057 shares of the company’s stock, valued at $515,235.87. The disclosure for this sale can be found here. Insiders sold 213,118 shares of company stock valued at $585,292 over the last quarter. 16.60% of the stock is currently owned by corporate insiders.
Large investors have recently modified their holdings of the company. Princeton Portfolio Strategies Group LLC raised its stake in shares of Zynga by 43.6% in the first quarter. Princeton Portfolio Strategies Group LLC now owns 35,900 shares of the company’s stock valued at $102,000 after buying an additional 10,900 shares during the period. HighTower Advisors LLC purchased a new position in Zynga during the first quarter valued at approximately $116,000. GSA Capital Partners LLP raised its position in Zynga by 132.3% in the fourth quarter. GSA Capital Partners LLP now owns 57,935 shares of the company’s stock valued at $149,000 after buying an additional 32,994 shares during the period. Clinton Group Inc. raised its position in Zynga by 0.7% in the first quarter. Clinton Group Inc. now owns 61,082 shares of the company’s stock valued at $174,000 after buying an additional 423 shares during the period. Finally, PNC Financial Services Group Inc. raised its position in Zynga by 11.7% in the first quarter. PNC Financial Services Group Inc. now owns 71,889 shares of the company’s stock valued at $205,000 after buying an additional 7,535 shares during the period. 60.68% of the stock is currently owned by institutional investors and hedge funds.
A number of equities analysts have commented on ZNGA shares. Canaccord Genuity reiterated a “hold” rating and issued a $3.00 target price on shares of Zynga in a report on Friday, February 3rd. Wedbush reiterated an “outperform” rating and issued a $4.00 target price on shares of Zynga in a report on Monday, February 6th. Zacks Investment Research downgraded shares of Zynga from a “hold” rating to a “sell” rating in a report on Thursday, February 9th. Piper Jaffray Companies reiterated a “hold” rating and issued a $2.50 target price on shares of Zynga in a report on Friday, February 10th. Finally, Mizuho reiterated a “buy” rating and issued a $3.20 target price on shares of Zynga in a report on Friday, February 10th. Six research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Zynga currently has an average rating of “Buy” and a consensus target price of $3.62.
Zynga (NASDAQ:ZNGA) opened at 3.50 on Wednesday. The stock’s 50 day moving average is $3.03 and its 200 day moving average is $2.81. The firm’s market cap is $3.01 billion. Zynga has a 12-month low of $2.27 and a 12-month high of $3.52.
Zynga (NASDAQ:ZNGA) last issued its earnings results on Thursday, May 4th. The company reported ($0.01) earnings per share for the quarter, hitting the consensus estimate of ($0.01). Zynga had a negative return on equity of 5.96% and a negative net margin of 14.59%. The business had revenue of $194.30 million for the quarter, compared to analyst estimates of $188.14 million. The business’s revenue for the quarter was up 4.1% compared to the same quarter last year. On average, equities research analysts expect that Zynga will post $0.09 EPS for the current year.
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) operating system and Android operating system and social networking sites, such as Facebook. The Company has developed a range of social games, including games in its Slots, Words With Friends, Zynga Poker and FarmVille franchises.
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