Russell Investments Group Ltd. cut its position in Zynga Inc. (NASDAQ:ZNGA) by 39.4% during the second quarter, Holdings Channel reports. The fund owned 2,650,764 shares of the company’s stock after selling 1,725,939 shares during the period. Russell Investments Group Ltd.’s holdings in Zynga were worth $9,648,000 at the end of the most recent quarter.
A number of other institutional investors also recently added to or reduced their stakes in ZNGA. Vanguard Group Inc. increased its position in Zynga by 10.2% in the first quarter. Vanguard Group Inc. now owns 60,636,895 shares of the company’s stock worth $172,814,000 after buying an additional 5,635,406 shares during the last quarter. Dimensional Fund Advisors LP increased its position in Zynga by 10.6% in the first quarter. Dimensional Fund Advisors LP now owns 53,752,591 shares of the company’s stock worth $153,195,000 after buying an additional 5,142,597 shares during the last quarter. BlackRock Inc. increased its position in Zynga by 5,061.5% in the first quarter. BlackRock Inc. now owns 35,936,741 shares of the company’s stock worth $102,420,000 after buying an additional 35,240,491 shares during the last quarter. Morgan Stanley increased its position in Zynga by 30.4% in the first quarter. Morgan Stanley now owns 27,433,552 shares of the company’s stock worth $78,186,000 after buying an additional 6,397,949 shares during the last quarter. Finally, First Trust Advisors LP increased its position in Zynga by 10.8% in the first quarter. First Trust Advisors LP now owns 11,178,952 shares of the company’s stock worth $31,860,000 after buying an additional 1,093,280 shares during the last quarter. 68.43% of the stock is owned by institutional investors.
Zynga Inc. (NASDAQ:ZNGA) traded down 0.414% during midday trading on Wednesday, hitting $3.605. 3,435,576 shares of the stock were exchanged. The firm’s 50 day moving average price is $3.65 and its 200 day moving average price is $3.18. Zynga Inc. has a 12 month low of $2.40 and a 12 month high of $3.86. The company’s market cap is $3.12 billion.
Zynga (NASDAQ:ZNGA) last posted its quarterly earnings data on Wednesday, August 2nd. The company reported $0.01 EPS for the quarter, missing the consensus estimate of $0.02 by $0.01. The firm had revenue of $209.20 million for the quarter, compared to the consensus estimate of $201.64 million. Zynga had a negative return on equity of 3.83% and a negative net margin of 10.50%. The company’s revenue was up 15.1% on a year-over-year basis. On average, equities research analysts forecast that Zynga Inc. will post $0.09 earnings per share for the current fiscal year.
A number of equities analysts have weighed in on ZNGA shares. Canaccord Genuity raised their target price on shares of Zynga from $3.00 to $3.50 and gave the company a “hold” rating in a research note on Thursday, August 3rd. Cowen and Company reaffirmed an “outperform” rating and set a $3.50 target price on shares of Zynga in a research note on Friday, May 5th. Zacks Investment Research downgraded shares of Zynga from a “buy” rating to a “hold” rating in a research note on Friday, July 7th. Bank of America Corporation raised their target price on shares of Zynga from $2.50 to $3.25 in a research note on Monday, May 15th. Finally, Wedbush raised their target price on shares of Zynga from $4.25 to $4.65 and gave the company an “outperform” rating in a research note on Thursday, August 3rd. Five analysts have rated the stock with a hold rating and ten have given a buy rating to the company. Zynga currently has a consensus rating of “Buy” and an average target price of $4.01.
In related news, Director William B. Gordon sold 549,637 shares of the business’s stock in a transaction that occurred on Tuesday, May 30th. The shares were sold at an average price of $3.52, for a total transaction of $1,934,722.24. Following the completion of the transaction, the director now owns 832,603 shares in the company, valued at approximately $2,930,762.56. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director William B. Gordon sold 1,232,373 shares of the business’s stock in a transaction that occurred on Friday, May 26th. The stock was sold at an average price of $3.50, for a total transaction of $4,313,305.50. Following the transaction, the director now owns 832,603 shares of the company’s stock, valued at approximately $2,914,110.50. The disclosure for this sale can be found here. In the last quarter, insiders have sold 1,818,010 shares of company stock valued at $6,377,868. 12.43% of the stock is currently owned by company 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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