Zynga Inc. (ZNGA) Sees Strong Trading Volume
Zynga Inc. (NASDAQ:ZNGA) saw unusually-strong trading volume on Friday . Approximately 10,903,320 shares were traded during trading, a decline of 4% from the previous session’s volume of 11,315,193 shares.The stock last traded at $2.73 and had previously closed at $2.68.
Several research analysts have commented on ZNGA shares. Jefferies Group restated a “buy” rating on shares of Zynga in a report on Monday, July 11th. Wedbush restated an “outperform” rating and set a $4.25 price objective on shares of Zynga in a report on Saturday, May 7th. Cowen and Company upgraded Zynga from a “market perform” rating to an “outperform” rating and set a $3.50 price objective on the stock in a report on Wednesday, August 3rd. TheStreet upgraded Zynga from a “sell” rating to a “hold” rating in a report on Wednesday, July 27th. Finally, Robert W. Baird restated a “neutral” rating and set a $3.00 price objective on shares of Zynga in a report on Saturday, August 6th. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and four have assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus price target of $3.07.
The stock’s market capitalization is $2.40 billion. The company has a 50 day moving average price of $2.77 and a 200 day moving average price of $2.50.
In other Zynga news, CEO Frank D. Gibeau sold 159,614 shares of the company’s stock in a transaction on Thursday, June 16th. The stock was 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 legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, General Counsel Devang Shah sold 12,251 shares of the company’s stock in a transaction on Wednesday, August 17th. The stock was sold at an average price of $2.64, for a total value of $32,342.64. Following the transaction, the general counsel now owns 52,356 shares in the company, valued at $138,219.84. The disclosure for this sale can be found here.
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.