Zynga Inc. (NASDAQ:ZNGA) hit a new 52-week high during mid-day trading on Thursday . The company traded as high as $2.88 and last traded at $2.78, with a volume of 23,084,098 shares changing hands. The stock had previously closed at $2.75.

ZNGA has been the topic of a number of recent research reports. Wedbush restated an “outperform” rating and set a $4.25 price target on shares of Zynga in a report on Saturday, May 7th. Benchmark Co. raised their price target on shares of Zynga from $3.18 to $3.22 and gave the company a “buy” rating in a report on Thursday, May 5th. Four research analysts have rated the stock with a sell rating, nine have given a hold rating and three have issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus target price of $2.94.

The firm’s market cap is $2.42 billion. The firm’s 50 day moving average is $2.56 and its 200 day moving average is $2.39.

In related news, VP Devang Shah sold 21,771 shares of the stock in a transaction on Monday, April 18th. The shares were sold at an average price of $2.39, for a total transaction of $52,032.69. Following the completion of the transaction, the vice president now owns 282,862 shares in the company, valued at $676,040.18. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Michelle Quejado sold 11,275 shares of the stock in a transaction on Monday, May 16th. The stock was sold at an average price of $2.55, for a total transaction of $28,751.25. Following the transaction, the chief financial officer now owns 72,553 shares of the company’s stock, valued at approximately $185,010.15. The disclosure for this sale can be found here.

A number of hedge funds and institutional investors have made changes to their positions in ZNGA. Russell Frank Co boosted its position in shares of Zynga by 5.6% in the fourth quarter. Russell Frank Co now owns 2,093,295 shares of the company’s stock valued at $5,610,000 after buying an additional 111,100 shares during the last quarter. State Board of Administration of Florida Retirement System boosted its stake in shares of Zynga by 34.0% in the fourth quarter. State Board of Administration of Florida Retirement System now owns 790,273 shares of the company’s stock worth $2,118,000 after buying an additional 200,651 shares in the last quarter. California State Teachers Retirement System boosted its stake in shares of Zynga by 1.6% in the fourth quarter. California State Teachers Retirement System now owns 1,468,977 shares of the company’s stock worth $3,937,000 after buying an additional 23,163 shares in the last quarter. First Trust Advisors LP boosted its stake in shares of Zynga by 64.8% in the fourth quarter. First Trust Advisors LP now owns 8,517,511 shares of the company’s stock worth $22,827,000 after buying an additional 3,350,046 shares in the last quarter. Finally, Rhumbline Advisers boosted its stake in shares of Zynga by 5.3% in the fourth quarter. Rhumbline Advisers now owns 499,836 shares of the company’s stock worth $1,340,000 after buying an additional 25,220 shares in the last quarter.

Zynga Inc (Zynga) is a provider of social game services. The Company develops markets and operates social games as live services played on mobile platforms, such as iOS and Android, and social networking sites, such as Facebook. The Company’s games are also accessible on Zynga.com. The Company has developed online social games, such as FarmVille, Words With Friends, Zynga Poker, Hit It Rich! Slots and CSR Racing.

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