Wells Fargo & Company MN increased its position in Zynga Inc. (NASDAQ:ZNGA) by 82.9% in the 2nd quarter, according to its most recent filing with the SEC. The fund owned 376,003 shares of the company’s stock after purchasing an additional 170,416 shares during the period. Wells Fargo & Company MN’s holdings in Zynga were worth $1,369,000 at the end of the most recent quarter.
Several other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc. lifted its holdings in shares of Zynga by 10.2% in the 1st quarter. Vanguard Group Inc. now owns 60,636,895 shares of the company’s stock valued at $172,814,000 after purchasing an additional 5,635,406 shares during the last quarter. BlackRock Inc. lifted its holdings in shares of Zynga by 5,061.5% in the 1st 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 last quarter. First Trust Advisors LP lifted its holdings in shares of Zynga by 2.8% in the 2nd quarter. First Trust Advisors LP now owns 11,490,540 shares of the company’s stock valued at $41,826,000 after purchasing an additional 311,588 shares during the last quarter. American Century Companies Inc. purchased a new stake in shares of Zynga in the 2nd quarter valued at about $33,218,000. Finally, State Street Corp lifted its holdings in shares of Zynga by 4.5% in the 1st quarter. State Street Corp now owns 9,033,788 shares of the company’s stock valued at $25,748,000 after purchasing an additional 390,205 shares during the last quarter. 69.11% of the stock is owned by institutional investors and hedge funds.
Zynga Inc. (ZNGA) opened at 3.82 on Tuesday. The firm’s market cap is $3.31 billion. Zynga Inc. has a 52-week low of $2.40 and a 52-week high of $4.02. The firm’s 50-day moving average price is $3.81 and its 200 day moving average price is $3.58.
Zynga (NASDAQ:ZNGA) last issued its earnings results on Wednesday, August 2nd. The company reported $0.01 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.02 by ($0.01). The business had revenue of $209.20 million during 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%. Zynga’s quarterly revenue was up 15.1% compared to the same quarter last year. On average, equities analysts anticipate that Zynga Inc. will post $0.10 earnings per share for the current year.
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In other news, Director Ellen F. Siminoff sold 12,000 shares of Zynga 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 sale, the director now owns 122,478 shares of the company’s stock, valued at $464,191.62. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 12.43% of the company’s stock.
Several analysts have recently weighed in on ZNGA shares. Morgan Stanley reissued an “overweight” rating and issued a $3.70 target price on shares of Zynga in a report on Saturday, July 22nd. Wedbush set a $5.00 target price on Zynga and gave the company a “buy” rating in a report on Wednesday, October 18th. Zacks Investment Research raised Zynga from a “hold” rating to a “buy” rating and set a $4.25 target price for the company in a report on Thursday, August 10th. Cowen and Company reissued a “buy” rating and issued a $4.50 target price on shares of Zynga in a report on Thursday, October 12th. Finally, Canaccord Genuity boosted their target price on Zynga from $3.00 to $3.50 and gave the company a “hold” rating in a report on Thursday, August 3rd. Seven investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. The stock has an average rating of “Buy” and a consensus target price of $4.09.
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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