Shares of Zynga Inc. (NASDAQ:ZNGA) dropped 1.8% during trading on Thursday . The stock traded as low as $2.67 and last traded at $2.67, with a volume of 11,101,491 shares. The stock had previously closed at $2.72.

ZNGA has been the subject of several research analyst reports. TheStreet upgraded shares of Zynga from a “sell” rating to a “hold” rating in a report on Wednesday, July 27th. Wedbush restated an “outperform” rating and issued a $4.25 price objective on shares of Zynga in a report on Saturday, May 7th. Jefferies Group restated a “buy” rating on shares of Zynga in a report on Monday, July 18th. Robert W. Baird restated a “neutral” rating and issued a $3.00 price objective on shares of Zynga in a report on Saturday, August 6th. Finally, Pacific Crest restated a “hold” rating on shares of Zynga in a report on Friday, August 5th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and four have issued a buy rating to the stock. Zynga presently has an average rating of “Hold” and an average target price of $3.07.

The company has a 50 day moving average price of $2.74 and a 200-day moving average price of $2.46. The company’s market capitalization is $2.35 billion.

In other news, CFO Michelle Quejado sold 11,275 shares of the stock in a transaction that occurred on Monday, May 16th. The shares were sold at an average price of $2.55, for a total transaction of $28,751.25. Following the transaction, the chief financial officer now directly owns 72,553 shares in the company, valued at $185,010.15. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, VP Devang Shah sold 40,443 shares of the stock in a transaction that occurred on Tuesday, July 19th. The shares were 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.

Several institutional investors have added to or reduced their stakes in the stock. Rhumbline Advisers increased 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. State of New Jersey Common Pension Fund D acquired a new position in Zynga during the fourth quarter worth about $9,112,000. Marshall Wace LLP increased 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. Dimensional Fund Advisors LP increased 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. Finally, BlackRock Advisors LLC increased 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.

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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