Zynga Inc. (ZNGA) Position Lifted by Global X MANAGEMENT CO LLC
Global X MANAGEMENT CO LLC lifted its position in shares of Zynga Inc. (NASDAQ:ZNGA) by 16.1% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,028,626 shares of the company’s stock after purchasing an additional 142,374 shares during the period. Global X MANAGEMENT CO LLC owned 0.12% of Zynga worth $3,888,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. World Asset Management Inc increased its holdings 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 buying an additional 98 shares during the last quarter. Public Employees Retirement Association of Colorado increased its holdings in Zynga by 0.4% during the second quarter. Public Employees Retirement Association of Colorado now owns 184,005 shares of the company’s stock worth $670,000 after buying an additional 820 shares during the last quarter. Principal Financial Group Inc. increased its holdings in Zynga by 2.8% during the first quarter. Principal Financial Group Inc. now owns 92,862 shares of the company’s stock worth $265,000 after buying an additional 2,540 shares during the last quarter. Teacher Retirement System of Texas increased its holdings in Zynga by 4.9% during the second quarter. Teacher Retirement System of Texas now owns 63,571 shares of the company’s stock worth $231,000 after buying an additional 2,941 shares during the last quarter. Finally, PNC Financial Services Group Inc. increased its stake in shares of Zynga by 4.5% in the second quarter. PNC Financial Services Group Inc. now owns 75,150 shares of the company’s stock worth $274,000 after purchasing an additional 3,261 shares in the last quarter. 69.31% of the stock is currently owned by institutional investors.
In related news, Director Ellen F. Siminoff sold 12,000 shares of the company’s stock in a transaction dated Friday, September 1st. The shares were sold at an average price of $3.77, for a total value of $45,240.00. Following the transaction, the director now owns 134,478 shares in the company, valued at approximately $506,982.06. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In the last quarter, insiders sold 36,000 shares of company stock worth $137,040. 12.43% of the stock is currently owned by company insiders.
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Shares of Zynga Inc. (NASDAQ ZNGA) opened at $3.87 on Tuesday. Zynga Inc. has a 1 year low of $2.40 and a 1 year high of $4.09.
Zynga (NASDAQ:ZNGA) last released its earnings results on Tuesday, November 7th. The company reported $0.02 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.01 by $0.01. The firm had revenue of $224.60 million for the quarter, compared to the consensus estimate of $211.98 million. Zynga had a negative net margin of 2.65% and a negative return on equity of 1.37%. The company’s revenue was up 23.1% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.05) EPS. research analysts predict that Zynga Inc. will post 0.02 earnings per share for the current fiscal year.
ZNGA has been the subject of several recent research reports. Morgan Stanley reiterated an “overweight” rating and issued a $3.70 target price on shares of Zynga in a research note on Saturday, July 22nd. Wedbush set a $5.00 target price on shares of Zynga and gave the stock a “buy” rating in a research note on Wednesday, October 18th. Zacks Investment Research upgraded shares of 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. Cowen and Company reiterated a “buy” rating and issued a $4.50 target price on shares of Zynga in a research note on Thursday, October 12th. Finally, Canaccord Genuity lifted their target price on shares of Zynga from $3.00 to $3.50 and gave the stock a “hold” rating in a research note on Thursday, August 3rd. Five analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company. The stock has an average rating of “Buy” and an average target price of $4.11.
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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