Global X Management Co. LLC Has $3.23 Million Stake in Zynga Inc. (NASDAQ:ZNGA)
Global X Management Co. LLC increased its position in Zynga Inc. (NASDAQ:ZNGA) by 41.2% during the second quarter, according to its most recent disclosure with the SEC. The fund owned 886,252 shares of the company’s stock after buying an additional 258,539 shares during the period. Global X Management Co. LLC’s holdings in Zynga were worth $3,226,000 at the end of the most recent reporting period.
Several other large investors also recently made changes to their positions in the company. Quantitative Investment Management LLC bought a new stake in shares of Zynga during the first quarter worth approximately $2,485,000. Parametric Portfolio Associates LLC boosted its position in Zynga by 23.1% in the first quarter. Parametric Portfolio Associates LLC now owns 1,354,247 shares of the company’s stock worth $3,860,000 after buying an additional 254,417 shares during the last quarter. TFS Capital LLC boosted its position in Zynga by 82.5% in the first quarter. TFS Capital LLC now owns 357,034 shares of the company’s stock worth $1,018,000 after buying an additional 161,365 shares during the last quarter. Ameriprise Financial Inc. boosted its position in Zynga by 118.2% in the first quarter. Ameriprise Financial Inc. now owns 5,597,056 shares of the company’s stock worth $15,951,000 after buying an additional 3,031,440 shares during the last quarter. Finally, Engineers Gate Manager LP acquired a new position in Zynga during the first quarter worth about $1,005,000. 66.31% of the stock is owned by institutional investors and hedge funds.
Zynga Inc. (NASDAQ:ZNGA) opened at 3.63 on Friday. The firm’s 50-day moving average price is $3.66 and its 200-day moving average price is $3.16. The firm’s market cap is $3.14 billion. Zynga Inc. has a 12 month low of $2.40 and a 12 month high of $3.86.
Zynga (NASDAQ:ZNGA) last posted its earnings results on Wednesday, August 2nd. The company reported $0.01 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.02 by $0.01. Zynga had a negative return on equity of 3.83% and a negative net margin of 10.50%. The firm had revenue of $209.20 million for the quarter, compared to the consensus estimate of $201.64 million. Zynga’s quarterly revenue was up 15.1% on a year-over-year basis. On average, equities research analysts expect that Zynga Inc. will post $0.09 EPS for the current fiscal year.
ZNGA has been the subject of a number of research analyst reports. Canaccord Genuity boosted their target price on Zynga from $3.00 to $3.50 and gave the company a “hold” rating in a research note on Thursday, August 3rd. Cowen and Company reissued an “outperform” rating and issued a $3.50 target price on shares of Zynga in a research note on Friday, May 5th. Zacks Investment Research cut Zynga from a “buy” rating to a “hold” rating in a research note on Friday, July 7th. Bank of America Corporation boosted their target price on Zynga from $2.50 to $3.25 in a research note on Monday, May 15th. Finally, Wedbush boosted their target price on Zynga from $4.25 to $4.65 and gave the company an “outperform” rating in a research note on Thursday, August 3rd. Five analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. Zynga presently has a consensus rating of “Buy” and a consensus target price of $4.01.
In other Zynga news, Director Ellen F. Siminoff sold 12,000 shares of Zynga stock in a transaction that occurred on Monday, July 3rd. The shares were sold at an average price of $3.64, for a total transaction of $43,680.00. Following the transaction, the director now owns 141,057 shares of the company’s stock, valued at approximately $513,447.48. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director William B. Gordon sold 1,232,373 shares of Zynga stock in a transaction that occurred on Friday, May 26th. The stock was sold at an average price of $3.50, for a total transaction of $4,313,305.50. Following the transaction, the director now directly owns 832,603 shares in the company, valued at approximately $2,914,110.50. The disclosure for this sale can be found here. In the last three months, insiders have sold 1,818,010 shares of company stock worth $6,377,868. Insiders own 12.43% of the company’s stock.
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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