Shares of Zynga Inc. (NASDAQ:ZNGA) dropped 7.4% during mid-day trading on Friday . The stock traded as low as $2.71 and last traded at $2.75, with a volume of 14,071,431 shares traded. The stock had previously closed at $2.97.

ZNGA has been the topic of several analyst reports. Jefferies Group reiterated a “buy” rating and set a $5.00 price target on shares of Zynga in a research report on Friday. 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 report on Thursday, May 5th. TheStreet upgraded shares of Zynga from a “sell” rating to a “hold” rating in a research report on Wednesday, July 27th. Cowen and Company upgraded shares of Zynga from a “market perform” rating to an “outperform” rating and set a $3.50 target price on the stock in a research report on Wednesday. Finally, Wedbush restated an “outperform” rating and issued a $4.25 target price on shares of Zynga in a research report on Saturday, May 7th. Three investment analysts have rated the stock with a sell rating, nine have issued a hold rating and four have given a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus target price of $3.02.

The stock’s market capitalization is $2.42 billion. The firm has a 50-day moving average price of $2.71 and a 200 day moving average price of $2.44.

In other Zynga news, VP Devang Shah sold 18,791 shares of the business’s stock in a transaction that occurred on Monday, July 18th. The shares were sold at an average price of $2.83, for a total value of $53,178.53. Following the completion of the transaction, the vice president now owns 77,799 shares of the company’s stock, valued at approximately $220,171.17. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CFO Michelle Quejado sold 11,275 shares of the business’s stock in a transaction that occurred 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 completion of the transaction, the chief financial officer now directly owns 72,553 shares of the company’s stock, valued at approximately $185,010.15. The disclosure for this sale can be found here.

Other institutional investors recently added to or reduced their stakes in the company. 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 worth $1,340,000 after buying an additional 25,220 shares in the last quarter. 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 in the last quarter. State of New Jersey Common Pension Fund D bought a new position in Zynga during the fourth quarter worth approximately $9,112,000. BlackRock Advisors LLC boosted its position in Zynga by 6.6% in the fourth quarter. BlackRock Advisors LLC now owns 4,045,268 shares of the company’s stock worth $10,841,000 after buying an additional 250,240 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its position in Zynga by 15.9% in the fourth quarter. Dimensional Fund Advisors LP now owns 23,824,830 shares of the company’s stock worth $63,850,000 after buying an additional 3,259,964 shares in the last quarter.

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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