Zynga Inc. (ZNGA) Shares Up 3.8%
Zynga Inc. (NASDAQ:ZNGA)’s share price shot up 3.8% on Wednesday . The stock traded as high as $2.75 and last traded at $2.75, with a volume of 19,375,518 shares changing hands. The stock had previously closed at $2.65.
Several brokerages have weighed in on ZNGA. Benchmark Co. increased their price objective on Zynga from $3.18 to $3.22 and gave the company a “buy” rating in a report on Thursday, May 5th. Wedbush reissued an “outperform” rating and set a $4.25 price objective on shares of Zynga in a report on Saturday, May 7th. Four investment analysts have rated the stock with a sell rating, nine have issued a hold rating and three have assigned a buy rating to the stock. Zynga has a consensus rating of “Hold” and a consensus price target of $2.94.
The firm’s 50 day moving average price is $2.56 and its 200-day moving average price is $2.39. The stock’s market cap is $2.40 billion.
In related news, VP Devang Shah sold 223,168 shares of the business’s 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 transaction, the vice president now directly owns 291,702 shares in the company, valued at $746,757.12. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Michelle Quejado sold 11,275 shares of the business’s stock in a transaction dated Monday, May 16th. The stock was sold at an average price of $2.55, for a total transaction of $28,751.25. Following the transaction, the chief financial officer now owns 72,553 shares in the company, valued at $185,010.15. The disclosure for this sale can be found here.
Other institutional investors have bought and sold shares of the company. Dimensional Fund Advisors LP raised 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 during the last quarter. First Trust Advisors LP raised its position in Zynga by 64.8% in the fourth quarter. First Trust Advisors LP now owns 8,517,511 shares of the company’s stock worth $22,827,000 after buying an additional 3,350,046 shares during the last quarter. OppenheimerFunds Inc. raised its position in Zynga by 3.9% in the fourth quarter. OppenheimerFunds Inc. now owns 5,375,664 shares of the company’s stock worth $14,407,000 after buying an additional 200,401 shares during the last quarter. State of New Jersey Common Pension Fund D acquired a new position in Zynga during the fourth quarter worth $9,112,000. Finally, Russell Frank Co raised its position in Zynga by 5.6% in the fourth quarter. Russell Frank Co now owns 2,093,295 shares of the company’s stock worth $5,610,000 after buying an additional 111,100 shares during the last quarter.
Zynga Inc (Zynga) is a provider of social game services. The Company develops markets and operates social games as live services played on mobile platforms, such as iOS and Android, and social networking sites, such as Facebook. The Company’s games are also accessible on Zynga.com. The Company has developed online social games, such as FarmVille, Words With Friends, Zynga Poker, Hit It Rich! Slots and CSR Racing.