First Quadrant L P CA boosted its stake in shares of Zynga Inc. (NASDAQ:ZNGA) by 164.3% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 6,002,422 shares of the company’s stock after acquiring an additional 3,731,357 shares during the period. First Quadrant L P CA owned 0.69% of Zynga worth $22,689,000 at the end of the most recent reporting period.
Several other hedge funds have also bought and sold shares of ZNGA. World Asset Management Inc increased its stake in Zynga by 0.4% in the second quarter. World Asset Management Inc now owns 27,842 shares of the company’s stock valued at $101,000 after acquiring an additional 98 shares during the last quarter. The Manufacturers Life Insurance Company boosted its holdings in shares of Zynga by 23.2% during the second quarter. The Manufacturers Life Insurance Company now owns 30,835 shares of the company’s stock worth $112,000 after purchasing an additional 5,815 shares during the period. HighTower Advisors LLC purchased a new stake in shares of Zynga during the first quarter worth about $116,000. Timber Hill LLC boosted its holdings in shares of Zynga by 49.0% during the second quarter. Timber Hill LLC now owns 44,446 shares of the company’s stock worth $162,000 after purchasing an additional 14,616 shares during the period. Finally, Prudential Financial Inc. lifted its holdings in Zynga by 9.1% in the second 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 period. 69.31% of the stock is owned by hedge funds and other institutional investors.
A number of brokerages have weighed in on ZNGA. Zacks Investment Research raised shares of Zynga from a “hold” rating to a “strong-buy” rating and set a $4.50 target price for the company in a research note on Saturday. Wedbush set a $5.00 target price on shares of Zynga and gave the stock a “buy” rating in a research report on Wednesday, October 18th. KeyCorp reiterated a “hold” rating on shares of Zynga in a research note on Tuesday, October 17th. Cowen and Company restated a “buy” rating and set a $4.50 target price on shares of Zynga in a research note on Thursday, October 12th. Finally, Robert W. Baird reiterated a “hold” rating and issued a $4.00 price target on shares of Zynga in a report on Friday, September 15th. Five analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company. Zynga has a consensus rating of “Buy” and an average price target of $4.11.
Shares of Zynga Inc. (NASDAQ:ZNGA) traded down $0.02 during midday trading on Tuesday, reaching $3.87. 5,706,500 shares of the company were exchanged, compared to its average volume of 10,719,176. Zynga Inc. has a 12-month low of $2.40 and a 12-month high of $4.09.
Zynga (NASDAQ:ZNGA) last posted 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 for the quarter, compared to the consensus estimate of $211.98 million. Zynga had a negative net margin of 2.65% and a negative return on equity of 1.37%. The company’s revenue was up 23.1% compared to the same quarter last year. During the same period last year, the firm posted ($0.05) earnings per share. analysts anticipate that Zynga Inc. will post 0.02 EPS for the current fiscal year.
In related news, Director Ellen F. Siminoff sold 12,000 shares of the firm’s stock in a transaction dated Monday, October 2nd. The shares were sold at an average price of $3.79, for a total transaction of $45,480.00. Following the completion of the sale, the director now directly owns 122,478 shares in the company, valued at $464,191.62. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Over the last 90 days, insiders have sold 36,000 shares of company stock valued at $137,040. 12.43% of the stock is owned by company insiders.
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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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