Zynga Inc. (ZNGA) Sets New 1-Year High at $2.88
Zynga Inc. (NASDAQ:ZNGA) shares hit a new 52-week high on Thursday . The stock traded as high as $2.88 and last traded at $2.78, with a volume of 23,084,098 shares. The stock had previously closed at $2.75.
Several research analysts have recently weighed in on the stock. Benchmark Co. increased their price objective on shares of Zynga from $3.18 to $3.22 and gave the stock a “buy” rating in a report on Thursday, May 5th. Wedbush restated an “outperform” rating and issued a $4.25 price target on shares of Zynga in a report on Saturday, May 7th. Four research analysts have rated the stock with a sell rating, nine have assigned a hold rating and three have given a buy rating to the company’s stock. The company has an average rating of “Hold” and an average price target of $2.94.
The firm has a 50 day moving average price of $2.58 and a 200-day moving average price of $2.40. The company’s market capitalization is $2.49 billion.
In other news, CEO Frank D. Gibeau sold 159,614 shares of Zynga stock in a transaction dated Thursday, June 16th. The stock was sold at an average price of $2.60, for a total transaction of $414,996.40. Following the completion of the sale, the chief executive officer now directly owns 489,964 shares in the company, valued at approximately $1,273,906.40. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, VP Devang Shah sold 21,771 shares of Zynga stock in a transaction dated Monday, April 18th. The shares were sold at an average price of $2.39, for a total value of $52,032.69. Following the sale, the vice president now owns 282,862 shares of the company’s stock, valued at $676,040.18. The disclosure for this sale can be found here.
Several large investors have recently made changes to their positions in ZNGA. California State Teachers Retirement System raised 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 valued at $3,937,000 after buying an additional 23,163 shares in the last quarter. Rhumbline Advisers raised 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 valued at $1,340,000 after buying an additional 25,220 shares in the last quarter. Marshall Wace LLP raised its stake in shares of Zynga by 5.9% in the fourth quarter. Marshall Wace LLP now owns 724,019 shares of the company’s stock valued at $1,941,000 after buying an additional 40,248 shares in the last quarter. Russell Frank Co raised its stake 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 in the last quarter. Finally, OppenheimerFunds Inc. raised its stake in shares of Zynga by 3.9% in the fourth quarter. OppenheimerFunds Inc. now owns 5,375,664 shares of the company’s stock valued at $14,407,000 after buying an additional 200,401 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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