New York State Common Retirement Fund Has $10.54 Million Position in Zynga Inc. (ZNGA)
New York State Common Retirement Fund lifted its holdings in Zynga Inc. (NASDAQ:ZNGA) by 26.1% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,787,283 shares of the company’s stock after acquiring an additional 577,404 shares during the period. New York State Common Retirement Fund owned 0.32% of Zynga worth $10,536,000 at the end of the most recent quarter.
Several other large investors have also made changes to their positions in ZNGA. World Asset Management Inc lifted its holdings in shares of Zynga by 0.4% in the 2nd quarter. World Asset Management Inc now owns 27,842 shares of the company’s stock valued at $101,000 after acquiring an additional 98 shares during the last quarter. TD Asset Management Inc. bought a new position in shares of Zynga in the 2nd quarter valued at about $894,000. Schwab Charles Investment Management Inc. lifted its holdings in shares of Zynga by 1.2% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 2,698,821 shares of the company’s stock valued at $9,824,000 after acquiring an additional 31,210 shares during the last quarter. Teacher Retirement System of Texas lifted its holdings in shares of Zynga by 4.9% in the 2nd quarter. Teacher Retirement System of Texas now owns 63,571 shares of the company’s stock valued at $231,000 after acquiring an additional 2,941 shares during the last quarter. Finally, State of Wisconsin Investment Board lifted its holdings in shares of Zynga by 5.4% in the 2nd quarter. State of Wisconsin Investment Board now owns 150,947 shares of the company’s stock valued at $549,000 after acquiring an additional 7,720 shares during the last quarter. 70.45% of the stock is owned by hedge funds and other institutional investors.
A number of brokerages recently commented on ZNGA. BidaskClub downgraded shares of Zynga from a “buy” rating to a “hold” rating in a report on Wednesday, December 6th. Zacks Investment Research downgraded shares of Zynga from a “strong-buy” rating to a “hold” rating in a report on Wednesday, November 15th. Wedbush set a $5.00 price target on shares of Zynga and gave the company a “buy” rating in a report on Wednesday, October 18th. KeyCorp reissued a “hold” rating on shares of Zynga in a research note on Tuesday, October 17th. Finally, Cowen reissued a “buy” rating and issued a $4.50 price objective on shares of Zynga in a research note on Thursday, October 12th. Seven investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus price target of $4.11.
Zynga (NASDAQ:ZNGA) last posted its quarterly earnings results on Tuesday, November 7th. The company reported $0.02 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.01 by $0.01. Zynga had a negative net margin of 2.65% and a negative return on equity of 1.37%. The firm had revenue of $224.60 million during the quarter, compared to the consensus estimate of $211.98 million. During the same quarter in the previous year, the firm posted ($0.05) earnings per share. The company’s revenue was up 23.1% on a year-over-year basis. equities research analysts expect that Zynga Inc. will post 0.02 earnings per share for the current year.
In other news, Director Ellen F. Siminoff sold 12,000 shares of Zynga stock in a transaction that occurred on Wednesday, November 1st. The shares were sold at an average price of $3.86, for a total transaction of $46,320.00. Following the completion of the sale, the director now owns 139,900 shares of the company’s stock, valued at $540,014. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 12.43% of the company’s stock.
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Zynga Company Profile
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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