Treasurer of the State of North Carolina Buys 23,030 Shares of Zynga Inc (NASDAQ:ZNGA)
Treasurer of the State of North Carolina grew its stake in Zynga Inc (NASDAQ:ZNGA) by 6.1% during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 400,488 shares of the company’s stock after purchasing an additional 23,030 shares during the quarter. Treasurer of the State of North Carolina’s holdings in Zynga were worth $2,455,000 at the end of the most recent reporting period.
Other hedge funds also recently bought and sold shares of the company. Vanguard Group Inc. lifted its holdings in Zynga by 1.7% during the second quarter. Vanguard Group Inc. now owns 74,896,553 shares of the company’s stock worth $459,116,000 after acquiring an additional 1,274,882 shares during the period. BlackRock Inc. raised its stake in shares of Zynga by 1.1% in the first quarter. BlackRock Inc. now owns 67,298,044 shares of the company’s stock valued at $358,697,000 after buying an additional 708,261 shares during the period. First Trust Advisors LP raised its stake in shares of Zynga by 13.0% in the first quarter. First Trust Advisors LP now owns 25,671,314 shares of the company’s stock valued at $136,828,000 after buying an additional 2,958,148 shares during the period. Renaissance Technologies LLC raised its stake in shares of Zynga by 1,172.6% in the second quarter. Renaissance Technologies LLC now owns 19,411,800 shares of the company’s stock valued at $118,994,000 after buying an additional 17,886,400 shares during the period. Finally, Invesco Ltd. raised its stake in shares of Zynga by 592.1% in the second quarter. Invesco Ltd. now owns 19,295,680 shares of the company’s stock valued at $118,283,000 after buying an additional 16,507,732 shares during the period. Institutional investors own 71.37% of the company’s stock.
In other news, insider Jeffrey Miles Ryan sold 28,943 shares of the company’s stock in a transaction dated Monday, September 30th. The stock was sold at an average price of $5.79, for a total value of $167,579.97. Following the completion of the transaction, the insider now directly owns 15,784 shares in the company, valued at approximately $91,389.36. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Matthew S. Bromberg sold 41,500 shares of the company’s stock in a transaction dated Monday, July 15th. The stock was sold at an average price of $6.30, for a total value of $261,450.00. Following the completion of the transaction, the chief operating officer now owns 659,146 shares of the company’s stock, valued at $4,152,619.80. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 299,923 shares of company stock valued at $1,798,033. 9.40% of the stock is owned by company insiders.
Zynga (NASDAQ:ZNGA) last posted its earnings results on Wednesday, July 31st. The company reported ($0.06) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.03 by ($0.09). Zynga had a negative return on equity of 10.42% and a negative net margin of 16.50%. The business had revenue of $306.50 million for the quarter, compared to analysts’ expectations of $293.18 million. The business’s revenue for the quarter was up 41.2% compared to the same quarter last year. As a group, sell-side analysts expect that Zynga Inc will post 0.13 earnings per share for the current year.
ZNGA has been the subject of several recent research reports. BidaskClub upgraded Zynga from a “strong sell” rating to a “sell” rating in a research report on Wednesday. Bank of America lifted their price target on Zynga from $6.60 to $6.70 and gave the company a “neutral” rating in a research report on Thursday, August 1st. ValuEngine cut Zynga from a “buy” rating to a “hold” rating in a research report on Friday, September 27th. Wedbush reiterated an “outperform” rating and issued a $9.00 price target on shares of Zynga in a research report on Tuesday, August 27th. Finally, Morgan Stanley set a $7.00 price target on Zynga and gave the company a “buy” rating in a research report on Monday, July 15th. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating and ten have assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and an average target price of $6.96.
Zynga Company 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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