Zynga Inc. (ZNGA) Trading Up 1.9%
Zynga Inc. (NASDAQ:ZNGA) shares were up 1.9% during trading on Friday . The company traded as high as $2.71 and last traded at $2.69, with a volume of 15,090,379 shares changing hands. The stock had previously closed at $2.64.
A number of research analysts have commented on ZNGA shares. Jefferies Group reissued a “buy” rating on shares of Zynga in a research report on Monday, July 18th. Wedbush restated an “outperform” rating and issued a $4.25 price target on shares of Zynga in a report on Saturday, May 7th. Pacific Crest restated a “hold” rating on shares of Zynga in a report on Friday, August 5th. Cowen and Company upgraded shares of Zynga from a “market perform” rating to an “outperform” rating and set a $3.50 price target on the stock in a report on Wednesday, August 3rd. Finally, TheStreet upgraded shares of Zynga from a “sell” rating to a “hold” rating in a report on Wednesday, July 27th. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and four have given a buy rating to the company. The company presently has an average rating of “Hold” and a consensus target price of $3.07.
The stock has a 50-day moving average price of $2.78 and a 200-day moving average price of $2.48. The firm’s market capitalization is $2.37 billion.
In other news, CEO Frank D. Gibeau sold 159,614 shares of the firm’s stock in a transaction on Thursday, June 16th. The stock was sold at an average price of $2.60, for a total value of $414,996.40. Following the completion of the transaction, the chief executive officer now owns 489,964 shares in the company, valued at $1,273,906.40. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, VP Devang Shah sold 223,168 shares of the firm’s stock in a transaction on Friday, June 17th. The shares were sold at an average price of $2.56, for a total value of $571,310.08. Following the completion of the transaction, the vice president now owns 291,702 shares of the company’s stock, valued at approximately $746,757.12. The disclosure for this sale can be found here.
A hedge fund recently raised its stake in Zynga stock. Marshall Wace LLP boosted its position in shares of Zynga Inc. (NASDAQ:ZNGA) by 5.9% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 724,019 shares of the company’s stock after buying an additional 40,248 shares during the period. Marshall Wace LLP owned 0.08% of Zynga worth $1,941,000 at the end of the most recent reporting period.
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.