Zynga Inc. (ZNGA) Sees Strong Trading Volume
Zynga Inc. (NASDAQ:ZNGA) shares saw an uptick in trading volume on Friday . 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 brokerages have recently weighed in on ZNGA. Robert W. Baird reiterated a “neutral” rating and set a $3.00 price objective on shares of Zynga in a report on Saturday, August 6th. TheStreet upgraded shares of Zynga from a “sell” rating to a “hold” rating in a 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 price objective on the stock in a report on Wednesday, August 3rd. Pacific Crest reiterated a “hold” rating on shares of Zynga in a report on Friday, August 5th. Finally, Wedbush reiterated an “outperform” rating and set a $4.25 price objective on shares of Zynga in a report on Saturday, May 7th. Two analysts have rated the stock with a sell rating, eight have given a hold rating and four have assigned a buy rating to the stock. Zynga has a consensus rating of “Hold” and an average target price of $3.07.
The company’s 50 day moving average is $2.77 and its 200-day moving average is $2.50. The stock’s market capitalization is $2.40 billion.
In other news, CEO Frank D. Gibeau sold 159,614 shares of Zynga 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 sale, the chief executive officer now owns 489,964 shares of the company’s stock, valued at approximately $1,273,906.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Devang Shah sold 223,168 shares of Zynga stock in a transaction dated Friday, June 17th. The shares were sold at an average price of $2.56, for a total transaction of $571,310.08. Following the sale, the vice president now directly owns 291,702 shares in the company, valued at approximately $746,757.12. 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.
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