JPMorgan Chase & Co. Cuts Stake in Zynga Inc. (ZNGA)
JPMorgan Chase & Co. decreased its position in Zynga Inc. (NASDAQ:ZNGA) by 17.6% during the second quarter, Holdings Channel reports. The fund owned 2,938,412 shares of the company’s stock after selling 629,114 shares during the period. JPMorgan Chase & Co. owned 0.34% of Zynga worth $7,317,000 at the end of the most recent reporting period.
Several other institutional investors also recently made changes to their positions in ZNGA. Moors & Cabot Inc. raised its position in shares of Zynga by 0.4% in the second quarter. Moors & Cabot Inc. now owns 124,050 shares of the company’s stock worth $307,000 after buying an additional 500 shares during the last quarter. Utah Retirement Systems raised its position in shares of Zynga by 0.6% in the second quarter. Utah Retirement Systems now owns 132,388 shares of the company’s stock worth $329,000 after buying an additional 800 shares during the last quarter. TIAA CREF Investment Management LLC raised its position in shares of Zynga by 0.6% in the first quarter. TIAA CREF Investment Management LLC now owns 2,270,869 shares of the company’s stock worth $5,178,000 after buying an additional 14,430 shares during the last quarter. Canada Pension Plan Investment Board raised its position in shares of Zynga by 1.5% in the first quarter. Canada Pension Plan Investment Board now owns 1,138,900 shares of the company’s stock worth $2,597,000 after buying an additional 16,600 shares during the last quarter. Finally, Teachers Advisors Inc. raised its position in shares of Zynga by 5.0% in the first quarter. Teachers Advisors Inc. now owns 657,110 shares of the company’s stock worth $1,498,000 after buying an additional 31,127 shares during the last quarter. Institutional investors own 59.36% of the company’s stock.
Shares of Zynga Inc. (NASDAQ:ZNGA) traded up 0.68% on Friday, reaching $2.94. 12,856,141 shares of the company traded hands. Zynga Inc. has a one year low of $1.78 and a one year high of $3.02. The firm has a 50-day moving average price of $2.81 and a 200 day moving average price of $2.63. The company’s market capitalization is $2.59 billion.
A number of brokerages have recently issued reports on ZNGA. Pacific Crest reiterated a “hold” rating on shares of Zynga in a research report on Friday, August 5th. Robert W. Baird reissued a “neutral” rating and set a $3.00 price target on shares of Zynga in a research note on Saturday, August 6th. Cowen and Company raised shares of Zynga from a “market perform” rating to an “outperform” rating and set a $3.50 price target for the company in a research note on Wednesday, August 3rd. TheStreet raised shares of Zynga from a “sell” rating to a “hold” rating in a research note on Wednesday, July 27th. Finally, Jefferies Group reissued a “buy” rating on shares of Zynga in a research note on Monday, July 18th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and five have issued a buy rating to the company. The company currently has an average rating of “Hold” and an average target price of $3.17.
In related news, General Counsel Devang Shah sold 12,251 shares of Zynga stock in a transaction that occurred on Wednesday, August 17th. The shares were sold at an average price of $2.64, for a total transaction of $32,342.64. Following the sale, the general counsel now directly owns 52,356 shares in the company, valued at approximately $138,219.84. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 16.60% 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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