TD Asset Management Inc. raised its position in Zynga Inc (NASDAQ:ZNGA) by 11.8% during the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 399,400 shares of the company’s stock after buying an additional 42,200 shares during the quarter. TD Asset Management Inc.’s holdings in Zynga were worth $1,626,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently added to or reduced their stakes in ZNGA. Artisan Partners Limited Partnership grew its holdings in shares of Zynga by 103.6% during the 1st quarter. Artisan Partners Limited Partnership now owns 38,005,725 shares of the company’s stock valued at $139,101,000 after purchasing an additional 19,341,666 shares during the last quarter. BlackRock Inc. grew its holdings in shares of Zynga by 37.0% during the 1st quarter. BlackRock Inc. now owns 44,372,272 shares of the company’s stock valued at $162,402,000 after purchasing an additional 11,993,435 shares during the last quarter. Point72 Asset Management L.P. grew its holdings in shares of Zynga by 276.2% during the 1st quarter. Point72 Asset Management L.P. now owns 15,963,897 shares of the company’s stock valued at $58,428,000 after purchasing an additional 11,720,451 shares during the last quarter. MUFG Securities EMEA plc bought a new stake in shares of Zynga during the 1st quarter valued at approximately $9,150,000. Finally, Penn Capital Management Co. Inc. bought a new stake in shares of Zynga during the 2nd quarter valued at approximately $8,606,000. 71.52% of the stock is currently owned by hedge funds and other institutional investors.
In other Zynga news, COO Matthew S. Bromberg sold 20,000 shares of the business’s stock in a transaction that occurred on Wednesday, July 18th. The shares were sold at an average price of $4.26, for a total transaction of $85,200.00. Following the sale, the chief operating officer now directly owns 389,945 shares of the company’s stock, valued at approximately $1,661,165.70. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Ellen F. Siminoff sold 12,000 shares of the business’s stock in a transaction that occurred on Tuesday, July 24th. The stock was sold at an average price of $4.20, for a total transaction of $50,400.00. Following the sale, the director now directly owns 210,743 shares in the company, valued at $885,120.60. The disclosure for this sale can be found here. Insiders have sold a total of 56,000 shares of company stock worth $234,120 over the last three months. Insiders own 11.87% of the company’s stock.
ZNGA opened at $3.69 on Monday. Zynga Inc has a fifty-two week low of $3.20 and a fifty-two week high of $4.57. The company has a market cap of $3.29 billion, a price-to-earnings ratio of 124.00, a price-to-earnings-growth ratio of 2.31 and a beta of 0.39.
Zynga (NASDAQ:ZNGA) last posted its earnings results on Wednesday, August 1st. The company reported $0.00 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.03 by ($0.03). Zynga had a return on equity of 2.37% and a net margin of 4.04%. The business had revenue of $217.05 million for the quarter, compared to the consensus estimate of $212.62 million. During the same period in the previous year, the firm earned $0.01 earnings per share. The company’s revenue was up 3.7% compared to the same quarter last year. equities analysts predict that Zynga Inc will post 0.07 earnings per share for the current fiscal year.
Several equities research analysts recently issued reports on ZNGA shares. BidaskClub lowered shares of Zynga from a “hold” rating to a “sell” rating in a report on Friday, July 27th. Barclays started coverage on shares of Zynga in a report on Thursday, August 9th. They set an “underweight” rating and a $3.70 price target on the stock. Wedbush set a $6.00 price target on shares of Zynga and gave the company a “buy” rating in a report on Thursday, July 26th. Morgan Stanley lifted their price target on shares of Zynga from $4.50 to $4.70 and gave the company an “overweight” rating in a report on Wednesday, July 11th. Finally, Benchmark reaffirmed a “buy” rating and set a $5.00 price target (up from $4.36) on shares of Zynga in a report on Thursday, May 31st. Four equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and seven have issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus target price of $4.67.
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 iOS and Android operating systems, as well as on social networking sites, including Facebook. It also provides advertising services comprising mobile and display ads, engagement ads and offers, and branded virtual goods and sponsorships to advertising agencies and brokers; and software licensing and maintenance services related to NaturalMotion technology, as well as licenses its own brands.
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