Jacobs Levy Equity Management Inc. lessened its holdings in shares of Zynga Inc (NASDAQ:ZNGA) by 24.3% in the 1st quarter, Holdings Channel reports. The firm owned 4,096,904 shares of the company’s stock after selling 1,315,372 shares during the quarter. Jacobs Levy Equity Management Inc.’s holdings in Zynga were worth $21,836,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also modified their holdings of the stock. Columbus Circle Investors purchased a new stake in Zynga in the 1st quarter valued at $9,023,000. CIBC Private Wealth Group LLC raised its position in Zynga by 19.0% during the 4th quarter. CIBC Private Wealth Group LLC now owns 156,129 shares of the company’s stock worth $614,000 after buying an additional 24,910 shares during the last quarter. Quantamental Technologies LLC purchased a new position in Zynga during the 1st quarter worth $614,000. Highbridge Capital Management LLC purchased a new position in Zynga during the 4th quarter worth $19,741,000. Finally, MUFG Securities EMEA plc purchased a new position in Zynga during the 4th quarter worth $1,061,000. 73.37% of the stock is owned by hedge funds and other institutional investors.

A number of equities analysts have commented on ZNGA shares. BidaskClub downgraded shares of Zynga from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, March 20th. Jefferies Financial Group upped their price objective on shares of Zynga from $5.75 to $7.00 and gave the stock a “buy” rating in a research report on Thursday, May 2nd. Benchmark restated a “buy” rating and set a $8.00 price objective (up previously from $5.00) on shares of Zynga in a research report on Thursday, May 2nd. Wedbush set a $8.00 price objective on shares of Zynga and gave the stock a “buy” rating in a research report on Tuesday, May 28th. Finally, Stephens upped their price objective on shares of Zynga from $5.25 to $6.50 and gave the stock an “equal weight” rating in a research report on Thursday, May 2nd. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, eleven have assigned a buy rating and two have given a strong buy rating to the company. Zynga currently has a consensus rating of “Buy” and a consensus target price of $6.52.

In related news, insider Jeffrey Miles Ryan sold 36,798 shares of the stock in a transaction dated Tuesday, March 19th. The shares were sold at an average price of $5.35, for a total value of $196,869.30. Following the sale, the insider now directly owns 57,970 shares of the company’s stock, valued at approximately $310,139.50. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, COO Matthew S. Bromberg sold 41,500 shares of the stock in a transaction dated Thursday, April 18th. The shares were sold at an average price of $5.27, for a total transaction of $218,705.00. Following the completion of the sale, the chief operating officer now directly owns 623,703 shares in the company, valued at $3,286,914.81. The disclosure for this sale can be found here. Insiders sold a total of 3,054,003 shares of company stock valued at $16,701,645 in the last quarter. Insiders own 9.40% of the company’s stock.

Shares of ZNGA traded down $0.12 during trading hours on Friday, reaching $6.11. The company had a trading volume of 107,203 shares, compared to its average volume of 14,240,531. The company has a quick ratio of 0.71, a current ratio of 0.71 and a debt-to-equity ratio of 0.01. The company has a market capitalization of $5.73 billion, a PE ratio of 306.25, a P/E/G ratio of 3.28 and a beta of 0.32. Zynga Inc has a 12-month low of $3.32 and a 12-month high of $6.55.

Zynga (NASDAQ:ZNGA) last announced its quarterly earnings results on Wednesday, May 1st. The company reported ($0.14) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.03 by ($0.17). The company had revenue of $265.00 million during the quarter, compared to analysts’ expectations of $255.45 million. Zynga had a negative net margin of 12.34% and a negative return on equity of 7.09%. The business’s revenue for the quarter was up 27.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.01 EPS. On average, research analysts anticipate that Zynga Inc will post 0.13 EPS for the current year.

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Zynga Profile

Zynga Inc develops, markets, and operates social games as live services in the United States and internationally. The company's games are played on mobile platforms, such as Apple iOS and Google's Android operating systems, as well as on social networking sites, such as Facebook. It also provides advertising services comprising mobile and display ads, engagement ads and offers, and branded virtual items and sponsorships to advertising agencies and brokers; and licenses its own brands.

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Institutional Ownership by Quarter for Zynga (NASDAQ:ZNGA)

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