Zynga Inc. (NASDAQ:ZNGA) hit a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $2.89 and last traded at $2.88, with a volume of 10,248,797 shares changing hands. The stock had previously closed at $2.83.

Several equities research analysts recently issued reports on the stock. Benchmark Co. raised their target price on shares of Zynga from $3.18 to $3.22 and gave the company a “buy” rating in a research note on Thursday, May 5th. Jefferies Group reiterated a “buy” rating on shares of Zynga in a research note on Monday, July 18th. Finally, Wedbush reiterated an “outperform” rating and issued a $4.25 target price on shares of Zynga in a research note on Saturday, May 7th. Four investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and three have issued a buy rating to the company. Zynga has an average rating of “Hold” and an average price target of $2.94.

The stock’s market cap is $2.51 billion. The stock’s 50-day moving average price is $2.66 and its 200 day moving average price is $2.42.

In related news, CEO Frank D. Gibeau sold 159,614 shares of the business’s stock in a transaction dated Thursday, June 16th. The shares were sold at an average price of $2.60, for a total transaction of $414,996.40. Following the transaction, the chief executive officer now directly owns 489,964 shares in the company, valued at $1,273,906.40. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, VP Devang Shah sold 40,443 shares of the business’s stock in a transaction dated Tuesday, July 19th. The stock was sold at an average price of $2.83, for a total transaction of $114,453.69. Following the transaction, the vice president now owns 77,799 shares in the company, valued at $220,171.17. The disclosure for this sale can be found here.

A number of hedge funds and institutional investors have recently added to or reduced their stakes in ZNGA. Rhumbline Advisers boosted its position in 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 during the period. Marshall Wace LLP boosted its position in Zynga by 5.9% in the fourth quarter. Marshall Wace LLP now owns 724,019 shares of the company’s stock worth $1,941,000 after buying an additional 40,248 shares during the last quarter. State Board of Administration of Florida Retirement System boosted its position in 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 during the last quarter. Russell Frank Co boosted its position in Zynga by 5.6% in the fourth quarter. Russell Frank Co now owns 2,093,295 shares of the company’s stock worth $5,610,000 after buying an additional 111,100 shares during the last quarter. Finally, State of New Jersey Common Pension Fund D bought a new position in Zynga during the fourth quarter worth $9,112,000.

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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