Zynga Inc. (ZNGA) Short Interest Update
Zynga Inc. (NASDAQ:ZNGA) was the target of a large growth in short interest in the month of September. As of September 15th, there was short interest totalling 22,488,191 shares, a growth of 19.2% from the August 31st total of 18,863,929 shares. Based on an average daily volume of 17,425,521 shares, the short-interest ratio is currently 1.3 days. Approximately 3.0% of the company’s shares are short sold.
A number of brokerages have commented on ZNGA. Robert W. Baird reaffirmed a “neutral” rating and issued a $3.00 price target on shares of Zynga in a research note on Saturday, August 6th. TheStreet raised Zynga from a “sell” rating to a “hold” rating in a research note on Wednesday, July 27th. Pacific Crest reaffirmed a “hold” rating on shares of Zynga in a research note on Friday, August 5th. FBR & Co reaffirmed an “outperform” rating and issued a $4.25 price target on shares of Zynga in a research note on Tuesday, September 13th. Finally, Jefferies Group reaffirmed a “buy” rating on shares of Zynga in a research note on Monday, July 11th. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and five have assigned a buy rating to the company. The company currently has an average rating of “Hold” and a consensus price target of $3.17.
Shares of Zynga (NASDAQ:ZNGA) opened at 2.91 on Friday. Zynga has a 52-week low of $1.78 and a 52-week high of $3.02. The company’s 50 day moving average price is $2.77 and its 200 day moving average price is $2.61. The company’s market capitalization is $2.57 billion.
In other Zynga news, VP Devang Shah sold 18,791 shares of Zynga stock in a transaction that occurred on Monday, July 18th. The stock was sold at an average price of $2.83, for a total value of $53,178.53. Following the transaction, the vice president now directly owns 77,799 shares of the company’s stock, valued at approximately $220,171.17. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 16.60% of the stock is owned by company insiders.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in ZNGA. Eminence Capital LP raised its stake in Zynga by 0.6% in the second quarter. Eminence Capital LP now owns 55,589,375 shares of the company’s stock worth $138,418,000 after buying an additional 350,100 shares in the last quarter. Vanguard Group Inc. raised its stake in Zynga by 1.6% in the second quarter. Vanguard Group Inc. now owns 50,514,335 shares of the company’s stock worth $125,782,000 after buying an additional 815,583 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in Zynga by 16.6% in the second quarter. Dimensional Fund Advisors LP now owns 35,369,450 shares of the company’s stock worth $88,067,000 after buying an additional 5,037,324 shares in the last quarter. Stelliam Investment Management LP bought a new stake in Zynga during the second quarter worth $38,969,000. Finally, DNB Asset Management AS raised its stake in Zynga by 48.5% in the second quarter. DNB Asset Management AS now owns 12,384,136 shares of the company’s stock worth $30,836,000 after buying an additional 4,043,929 shares in the last quarter. Institutional investors own 59.36% of the company’s stock.
Zynga Company Profile
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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