Zynga Inc (ZNGA) Director Sells $4,313,305.50 in Stock
Zynga Inc (NASDAQ:ZNGA) Director William B. Gordon sold 1,232,373 shares of the stock in a transaction that occurred on Friday, May 26th. The shares were sold at an average price of $3.50, for a total transaction of $4,313,305.50. Following the completion of the sale, the director now directly owns 832,603 shares of the company’s stock, valued at approximately $2,914,110.50. The transaction was disclosed in a filing with the SEC, which is available through the SEC website.
Shares of Zynga Inc (NASDAQ:ZNGA) remained flat at $3.49 during trading on Friday. The company had a trading volume of 7,998,194 shares. The company’s market cap is $3.00 billion. The firm’s 50-day moving average price is $3.07 and its 200 day moving average price is $2.82. Zynga Inc has a 52 week low of $2.27 and a 52 week high of $3.63.
Zynga (NASDAQ:ZNGA) last announced its quarterly earnings results on Thursday, May 4th. The company reported ($0.01) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.01). The firm had revenue of $194.30 million for the quarter, compared to analysts’ expectations of $188.14 million. Zynga had a negative net margin of 14.59% and a negative return on equity of 5.96%. The firm’s revenue for the quarter was up 4.1% on a year-over-year basis. On average, equities analysts predict that Zynga Inc will post $0.09 EPS for the current fiscal year.
Several equities analysts have recently commented on ZNGA shares. Bank of America Corp upped their price objective on shares of Zynga from $2.50 to $3.25 in a report on Monday, May 15th. Jefferies Group LLC restated a “buy” rating and issued a $5.00 price objective on shares of Zynga in a report on Tuesday, April 18th. Zacks Investment Research upgraded shares of Zynga from a “hold” rating to a “buy” rating and set a $3.25 price objective on the stock in a report on Thursday, April 13th. Mizuho restated a “buy” rating and issued a $3.20 price objective (down from $3.50) on shares of Zynga in a report on Thursday, February 16th. Finally, Benchmark Co. restated a “buy” rating and issued a $3.65 price objective on shares of Zynga in a report on Friday, May 5th. Six analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Zynga presently has a consensus rating of “Buy” and an average price target of $3.62.
A number of hedge funds and other institutional investors have recently made changes to their positions in ZNGA. Teachers Advisors LLC boosted its position in shares of Zynga by 6.0% in the third quarter. Teachers Advisors LLC now owns 717,565 shares of the company’s stock worth $2,088,000 after buying an additional 40,341 shares during the period. Rhumbline Advisers boosted its position in shares of Zynga by 5.5% in the third quarter. Rhumbline Advisers now owns 589,388 shares of the company’s stock worth $1,715,000 after buying an additional 30,506 shares during the period. California State Teachers Retirement System boosted its position in shares of Zynga by 0.9% in the third quarter. California State Teachers Retirement System now owns 1,590,798 shares of the company’s stock worth $4,629,000 after buying an additional 14,600 shares during the period. Highline Capital Management L.P. acquired a new position in shares of Zynga during the third quarter worth $34,687,000. Finally, Two Sigma Advisers LP boosted its position in shares of Zynga by 67.0% in the third quarter. Two Sigma Advisers LP now owns 3,383,173 shares of the company’s stock worth $9,845,000 after buying an additional 1,357,300 shares during the period. 60.68% of the stock is currently owned by hedge funds and other institutional investors.
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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