Traders Buy Zynga (ZNGA) on Weakness
Investors bought shares of Zynga Inc (NASDAQ:ZNGA) on weakness during trading on Tuesday. $18.77 million flowed into the stock on the tick-up and $6.38 million flowed out of the stock on the tick-down, for a money net flow of $12.39 million into the stock. Of all companies tracked, Zynga had the 31st highest net in-flow for the day. Zynga traded down ($0.03) for the day and closed at $5.21
Several research analysts recently issued reports on ZNGA shares. ValuEngine upgraded shares of Zynga from a “hold” rating to a “buy” rating in a research report on Wednesday, December 5th. BidaskClub upgraded shares of Zynga from a “sell” rating to a “hold” rating in a research report on Saturday, December 8th. Macquarie upgraded shares of Zynga from a “neutral” rating to an “outperform” rating in a research report on Tuesday, December 11th. Wedbush cut their target price on shares of Zynga from $6.00 to $5.00 and set a “buy” rating for the company in a research report on Friday, December 21st. Finally, Barclays set a $4.00 target price on shares of Zynga and gave the stock a “sell” rating in a research report on Sunday, December 23rd. Two analysts have rated the stock with a sell rating, two have assigned a hold rating, eight have issued a buy rating and two have assigned a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and an average target price of $4.98.
The stock has a market cap of $4.97 billion, a PE ratio of 270.00, a PEG ratio of 1.72 and a beta of 0.41.
In other Zynga news, COO Matthew S. Bromberg sold 33,500 shares of the company’s stock in a transaction dated Friday, December 14th. The shares were sold at an average price of $3.75, for a total transaction of $125,625.00. Following the completion of the sale, the chief operating officer now directly owns 512,318 shares in the company, valued at $1,921,192.50. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, COO Matthew S. Bromberg sold 67,000 shares of the company’s stock in a transaction dated Monday, December 17th. The shares were sold at an average price of $3.75, for a total transaction of $251,250.00. Following the sale, the chief operating officer now owns 512,318 shares of the company’s stock, valued at $1,921,192.50. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 430,694 shares of company stock valued at $1,786,273. Company insiders own 11.87% of the company’s stock.
Hedge funds and other institutional investors have recently bought and sold shares of the business. Parallel Advisors LLC boosted its position in Zynga by 1,171.4% during the fourth quarter. Parallel Advisors LLC now owns 8,480 shares of the company’s stock valued at $33,000 after buying an additional 7,813 shares during the period. Enlightenment Research LLC bought a new position in shares of Zynga during the fourth quarter valued at about $46,000. Suntrust Banks Inc. bought a new position in shares of Zynga during the fourth quarter valued at about $48,000. Point View Wealth Management Inc. bought a new position in shares of Zynga during the fourth quarter valued at about $54,000. Finally, Hotaling Investment Management LLC bought a new position in shares of Zynga during the fourth quarter valued at about $55,000. Institutional investors and hedge funds own 82.87% of the company’s stock.
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About Zynga (NASDAQ:ZNGA)
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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