Zynga Inc. (ZNGA) Shares Sold by Dimensional Fund Advisors LP
Dimensional Fund Advisors LP cut its position in shares of Zynga Inc. (NASDAQ:ZNGA) by 1.9% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 51,377,446 shares of the company’s stock after selling 1,017,751 shares during the period. Dimensional Fund Advisors LP owned about 5.94% of Zynga worth $194,205,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. World Asset Management Inc raised its position 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 worth $101,000 after acquiring an additional 98 shares in the last quarter. The Manufacturers Life Insurance Company raised its position in shares of Zynga by 23.2% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 30,835 shares of the company’s stock worth $112,000 after acquiring an additional 5,815 shares in the last quarter. Dynamic Technology Lab Private Ltd purchased a new position in Zynga during the 3rd quarter worth $150,000. Timber Hill LLC grew its stake in Zynga by 49.0% during the 2nd quarter. Timber Hill LLC now owns 44,446 shares of the company’s stock worth $162,000 after buying an additional 14,616 shares during the last quarter. Finally, Prudential Financial Inc. grew its stake in Zynga by 9.1% during the 2nd quarter. Prudential Financial Inc. now owns 44,500 shares of the company’s stock worth $162,000 after buying an additional 3,700 shares during the last quarter. 70.49% of the stock is owned by institutional investors and hedge funds.
Several research analysts recently weighed in on ZNGA shares. BidaskClub upgraded Zynga from a “hold” rating to a “buy” rating in a research note on Wednesday, August 23rd. Cowen restated a “buy” rating and set a $4.50 target price on shares of Zynga in a research note on Thursday, October 12th. Wedbush set a $5.00 target price on Zynga and gave the stock a “buy” rating in a research note on Wednesday, October 18th. KeyCorp restated a “hold” rating on shares of Zynga in a research note on Tuesday, October 17th. Finally, Zacks Investment Research downgraded Zynga from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, November 15th. Seven investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Zynga currently has a consensus rating of “Buy” and a consensus target price of $4.11.
Zynga Inc. (ZNGA) opened at $3.93 on Tuesday. Zynga Inc. has a fifty-two week low of $2.40 and a fifty-two week high of $4.34.
Zynga (NASDAQ:ZNGA) last issued its quarterly earnings data on Tuesday, November 7th. The company reported $0.02 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.01 by $0.01. The business had revenue of $224.60 million during the quarter, compared to analysts’ expectations of $211.98 million. Zynga had a negative return on equity of 1.37% and a negative net margin of 2.65%. The company’s revenue for the quarter was up 23.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.05) EPS. equities research analysts expect that Zynga Inc. will post 0.02 EPS for the current fiscal year.
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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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