Sterling Capital Management LLC decreased its holdings in Zynga Inc. (NASDAQ:ZNGA) by 42.9% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 40,461 shares of the company’s stock after selling 30,418 shares during the quarter. Sterling Capital Management LLC’s holdings in Zynga were worth $147,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also bought and sold shares of the company. BlackRock Inc. boosted its stake in shares of Zynga by 5,061.5% in the first quarter. BlackRock Inc. now owns 35,936,741 shares of the company’s stock valued at $102,420,000 after purchasing an additional 35,240,491 shares during the period. Legal & General Group Plc boosted its stake in shares of Zynga by 454.0% in the second quarter. Legal & General Group Plc now owns 1,414,781 shares of the company’s stock valued at $5,110,000 after purchasing an additional 1,159,405 shares during the period. Comerica Bank boosted its stake in shares of Zynga by 914.3% in the second quarter. Comerica Bank now owns 306,032 shares of the company’s stock valued at $1,148,000 after purchasing an additional 275,860 shares during the period. Point72 Asset Management L.P. purchased a new position in shares of Zynga in the first quarter valued at approximately $8,390,000. Finally, Amalgamated Bank boosted its stake in shares of Zynga by 31.7% in the second quarter. Amalgamated Bank now owns 137,196 shares of the company’s stock valued at $499,000 after purchasing an additional 33,022 shares during the period. 69.11% of the stock is owned by institutional investors and hedge funds.
Shares of Zynga Inc. (ZNGA) opened at 3.77 on Monday. Zynga Inc. has a 12-month low of $2.40 and a 12-month high of $4.02. The firm’s market cap is $3.26 billion. The firm’s 50-day moving average is $3.80 and its 200-day moving average is $3.56.
Zynga (NASDAQ:ZNGA) last released its earnings results on Wednesday, August 2nd. The company reported $0.01 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.02 by ($0.01). The business had revenue of $209.20 million for the quarter, compared to analysts’ expectations of $201.64 million. Zynga had a negative net margin of 10.50% and a negative return on equity of 3.83%. The company’s quarterly revenue was up 15.1% on a year-over-year basis. Equities analysts expect that Zynga Inc. will post $0.10 earnings per share for the current fiscal year.
Several research analysts have recently commented on the stock. Zacks Investment Research raised shares of Zynga from a “hold” rating to a “buy” rating and set a $4.25 price objective for the company in a research note on Thursday, August 10th. Wedbush reissued an “outperform” rating and issued a $4.65 price objective (up previously from $4.25) on shares of Zynga in a research note on Monday, July 31st. Cowen and Company reissued an “outperform” rating and issued a $4.50 price objective on shares of Zynga in a research note on Thursday, August 3rd. Goldman Sachs Group, Inc. (The) assumed coverage on shares of Zynga in a research note on Friday, September 8th. They issued a “neutral” rating and a $3.90 price objective for the company. Finally, BidaskClub raised shares of Zynga from a “hold” rating to a “buy” rating in a research note on Wednesday, August 23rd. Seven investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average price target of $4.09.
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In other news, Director Ellen F. Siminoff sold 12,000 shares of the stock in a transaction that occurred on Monday, October 2nd. The stock was sold at an average price of $3.79, for a total transaction of $45,480.00. Following the completion of the transaction, the director now directly owns 122,478 shares in the company, valued at approximately $464,191.62. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Over the last quarter, insiders have sold 36,000 shares of company stock valued at $134,160. Company insiders own 12.43% of the company’s stock.
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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