Zynga Inc. (ZNGA) Shares Up 2.9%
Zynga Inc. (NASDAQ:ZNGA) traded up 2.9% during trading on Friday . The stock traded as high as $2.85 and last traded at $2.85, with a volume of 7,170,173 shares trading hands. The stock had previously closed at $2.77.
Several equities research analysts have commented on the company. Benchmark Co. boosted their target price on Zynga from $3.18 to $3.22 and gave the company a “buy” rating in a research note on Thursday, May 5th. Wedbush reaffirmed an “outperform” rating and set a $4.25 price target on shares of Zynga in a research report on Saturday, May 7th. Finally, Jefferies Group reaffirmed a “buy” rating on shares of Zynga in a research report on Monday, July 11th. Four research analysts have rated the stock with a sell rating, nine have assigned a hold rating and three have given a buy rating to the stock. Zynga presently has a consensus rating of “Hold” and an average target price of $2.94.
The stock’s market cap is $2.49 billion. The company’s 50-day moving average price is $2.64 and its 200 day moving average price is $2.41.
In related news, CFO Michelle Quejado sold 11,275 shares of the company’s stock in a transaction that occurred on Monday, May 16th. The stock was sold at an average price of $2.55, for a total value of $28,751.25. Following the sale, the chief financial officer now owns 72,553 shares in the company, valued at approximately $185,010.15. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, VP Devang Shah sold 18,791 shares of the company’s 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 completion of the sale, the vice president now owns 77,799 shares in the company, valued at approximately $220,171.17. The disclosure for this sale can be found here.
Several hedge funds recently bought and sold shares of ZNGA. State of New Jersey Common Pension Fund D bought a new stake in Zynga during the fourth quarter valued at $9,112,000. Dimensional Fund Advisors LP boosted 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 valued at $63,850,000 after buying an additional 3,259,964 shares during the period. State Board of Administration of Florida Retirement System boosted its position in Zynga by 34.0% in the fourth quarter. State Board of Administration of Florida Retirement System now owns 790,273 shares of the company’s stock valued at $2,118,000 after buying an additional 200,651 shares during the period. OppenheimerFunds Inc. boosted its position in Zynga by 3.9% in the fourth quarter. OppenheimerFunds Inc. now owns 5,375,664 shares of the company’s stock valued at $14,407,000 after buying an additional 200,401 shares during the period. Finally, Russell Frank Co boosted 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 valued at $5,610,000 after buying an additional 111,100 shares during the period.
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.
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