Vanguard Group Inc. Acquires 5,635,406 Shares of Zynga Inc. (ZNGA)
Vanguard Group Inc. boosted its stake in Zynga Inc. (NASDAQ:ZNGA) by 10.2% during the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 60,636,895 shares of the company’s stock after buying an additional 5,635,406 shares during the period. Vanguard Group Inc. owned about 0.07% of Zynga worth $172,814,000 at the end of the most recent quarter.
A number of other hedge funds have also recently made changes to their positions in the company. Gladstone Capital Management LLP purchased a new stake in shares of Zynga during the first quarter valued at $1,648,000. GSA Capital Partners LLP boosted its stake in shares of Zynga by 132.3% in the fourth quarter. GSA Capital Partners LLP now owns 57,935 shares of the company’s stock valued at $149,000 after buying an additional 32,994 shares in the last quarter. Princeton Portfolio Strategies Group LLC boosted its stake in shares of Zynga by 43.6% in the first quarter. Princeton Portfolio Strategies Group LLC now owns 35,900 shares of the company’s stock valued at $102,000 after buying an additional 10,900 shares in the last quarter. River & Mercantile Asset Management LLP purchased a new stake in shares of Zynga during the fourth quarter valued at $4,487,000. Finally, Clinton Group Inc. boosted its stake in shares of Zynga by 0.7% in the first quarter. Clinton Group Inc. now owns 61,082 shares of the company’s stock valued at $174,000 after buying an additional 423 shares in the last quarter. 66.00% of the stock is owned by hedge funds and other institutional investors.
Zynga Inc. (NASDAQ:ZNGA) opened at 3.65 on Wednesday. The firm’s market capitalization is $3.14 billion. Zynga Inc. has a 12 month low of $2.40 and a 12 month high of $3.86. The company has a 50 day moving average price of $3.62 and a 200 day moving average price of $3.04.
Zynga (NASDAQ:ZNGA) last announced its quarterly earnings data on Thursday, May 4th. The company reported ($0.01) EPS for the quarter, meeting the Zacks’ consensus estimate of ($0.01). The firm had revenue of $194.30 million during the quarter, compared to analysts’ expectations of $188.14 million. Zynga had a negative return on equity of 5.25% and a negative net margin of 12.16%. The company’s revenue for the quarter was up 4.1% compared to the same quarter last year. Analysts anticipate that Zynga Inc. will post $0.09 earnings per share for the current fiscal year.
ZNGA has been the subject of several recent research reports. Zacks Investment Research cut Zynga from a “buy” rating to a “hold” rating in a report on Friday, July 7th. Pacific Crest reissued a “sector weight” rating on shares of Zynga in a report on Wednesday, April 26th. Jefferies Group LLC reissued a “buy” rating and set a $5.00 price objective on shares of Zynga in a report on Tuesday, April 18th. Piper Jaffray Companies reissued a “hold” rating and set a $3.00 price objective on shares of Zynga in a report on Monday, May 15th. Finally, Cowen and Company restated an “outperform” rating and set a $3.50 target price on shares of Zynga in a research report on Friday, May 5th. Six equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. Zynga presently has a consensus rating of “Buy” and an average target price of $3.91.
In other Zynga news, Director William B. Gordon sold 549,637 shares of the business’s stock in a transaction on Tuesday, May 30th. The stock was sold at an average price of $3.52, for a total value of $1,934,722.24. Following the transaction, the director now owns 832,603 shares of the company’s stock, valued at $2,930,762.56. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Ellen F. Siminoff sold 12,000 shares of the business’s stock in a transaction on Monday, May 1st. The stock was sold at an average price of $2.91, for a total value of $34,920.00. Following the completion of the transaction, the director now directly owns 177,057 shares in the company, valued at approximately $515,235.87. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 1,818,010 shares of company stock worth $6,369,348. 12.43% of the stock is owned by insiders.
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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