Zynga Inc. (ZNGA) Holdings Raised by Cubist Systematic Strategies LLC
Cubist Systematic Strategies LLC boosted its holdings in shares of Zynga Inc. (NASDAQ:ZNGA) by 498.3% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 205,212 shares of the company’s stock after purchasing an additional 170,912 shares during the period. Cubist Systematic Strategies LLC’s holdings in Zynga were worth $747,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in ZNGA. World Asset Management Inc lifted its stake in Zynga by 0.4% during the second quarter. World Asset Management Inc now owns 27,842 shares of the company’s stock worth $101,000 after purchasing an additional 98 shares during the last quarter. HighTower Advisors LLC bought a new stake in Zynga during the first quarter worth $116,000. Prudential Financial Inc. lifted its stake in Zynga by 9.1% during the second quarter. Prudential Financial Inc. now owns 44,500 shares of the company’s stock worth $162,000 after purchasing an additional 3,700 shares during the last quarter. Timber Hill LLC lifted its stake in Zynga by 49.0% during the second quarter. Timber Hill LLC now owns 44,446 shares of the company’s stock worth $162,000 after purchasing an additional 14,616 shares during the last quarter. Finally, Bayesian Capital Management LP bought a new stake in Zynga during the second quarter worth $170,000. Hedge funds and other institutional investors own 68.21% of the company’s stock.
Shares of Zynga Inc. (NASDAQ:ZNGA) opened at 3.84 on Wednesday. Zynga Inc. has a 52 week low of $2.40 and a 52 week high of $4.02. The stock’s market cap is $3.32 billion. The stock’s 50 day moving average is $3.76 and its 200 day moving average is $3.50.
Zynga (NASDAQ:ZNGA) last issued its quarterly earnings data on Wednesday, August 2nd. The company reported $0.01 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.02 by ($0.01). The company had revenue of $209.20 million for the quarter, compared to the consensus estimate of $201.64 million. Zynga had a negative net margin of 10.50% and a negative return on equity of 3.83%. The business’s revenue for the quarter was up 15.1% compared to the same quarter last year. On average, equities analysts forecast that Zynga Inc. will post $0.10 EPS for the current year.
Several equities research analysts have weighed in on the company. Cowen and Company upped their target price on Zynga from $4.25 to $4.50 and gave the stock an “outperform” rating in a research note on Friday, June 23rd. Zacks Investment Research upgraded Zynga from a “hold” rating to a “buy” rating and set a $4.25 target price for the company in a research note on Thursday, August 10th. Wedbush restated an “outperform” rating and set a $4.65 target price (up from $4.25) on shares of Zynga in a research note on Monday, July 31st. Goldman Sachs Group, Inc. (The) assumed coverage on Zynga in a research note on Friday, September 8th. They set a “neutral” rating and a $3.90 target price for the company. Finally, BidaskClub upgraded Zynga from a “hold” rating to a “buy” rating in a research note on Wednesday, August 23rd. Seven research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. Zynga presently has an average rating of “Buy” and a consensus price target of $4.09.
In related news, Director Ellen F. Siminoff sold 12,000 shares of the stock in a transaction that occurred on Friday, September 1st. The shares were sold at an average price of $3.77, for a total transaction of $45,240.00. Following the transaction, the director now owns 134,478 shares in the company, valued at $506,982.06. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In the last 90 days, insiders have sold 36,000 shares of company stock worth $134,160. 12.43% of the stock is owned by insiders.
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) operating system and Android operating system and social networking sites, such as Facebook. The Company has developed a range of social games, including games in its Slots, Words With Friends, Zynga Poker and FarmVille franchises.
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