JPMorgan Chase & Co. grew its stake in shares of Zynga Inc (NASDAQ:ZNGA) by 22,432.6% in the first quarter, according to the company in its most recent filing with the SEC. The firm owned 958,987 shares of the company’s stock after acquiring an additional 954,731 shares during the quarter. JPMorgan Chase & Co.’s holdings in Zynga were worth $5,111,000 as of its most recent SEC filing.
Other large investors also recently added to or reduced their stakes in the company. Parallel Advisors LLC lifted its position in shares of Zynga by 1,171.4% during the 4th quarter. Parallel Advisors LLC now owns 8,480 shares of the company’s stock valued at $33,000 after acquiring an additional 7,813 shares during the period. Enlightenment Research LLC bought a new stake in shares of Zynga during the 4th quarter valued at $46,000. Suntrust Banks Inc. bought a new stake in shares of Zynga during the 4th quarter valued at $48,000. Point View Wealth Management Inc. bought a new stake in shares of Zynga during the 4th quarter valued at $54,000. Finally, AdvisorNet Financial Inc lifted its position in shares of Zynga by 18.0% during the 4th quarter. AdvisorNet Financial Inc now owns 14,060 shares of the company’s stock valued at $55,000 after acquiring an additional 2,149 shares during the period. Hedge funds and other institutional investors own 73.37% of the company’s stock.
In other Zynga news, COO Matthew S. Bromberg sold 41,500 shares of the company’s stock in a transaction dated Wednesday, May 15th. The stock was sold at an average price of $6.11, for a total value of $253,565.00. Following the completion of the transaction, the chief operating officer now owns 707,203 shares of the company’s stock, valued at approximately $4,321,010.33. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Mark J. Pincus sold 586,800 shares of the company’s stock in a transaction dated Wednesday, April 24th. The stock was sold at an average price of $5.57, for a total value of $3,268,476.00. Following the completion of the transaction, the director now directly owns 37,620,926 shares of the company’s stock, valued at approximately $209,548,557.82. The disclosure for this sale can be found here. Insiders have sold a total of 3,054,003 shares of company stock valued at $16,701,645 in the last three months. 9.40% of the stock is owned by insiders.
Zynga (NASDAQ:ZNGA) last posted its quarterly earnings results on Wednesday, May 1st. The company reported ($0.14) EPS for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.17). Zynga had a negative return on equity of 7.09% and a negative net margin of 12.34%. The business had revenue of $265.00 million for the quarter, compared to analyst estimates of $255.45 million. During the same period last year, the firm posted $0.01 EPS. Zynga’s quarterly revenue was up 27.4% on a year-over-year basis. As a group, research analysts expect that Zynga Inc will post 0.13 EPS for the current fiscal year.
A number of analysts have recently weighed in on ZNGA shares. Robert W. Baird upgraded Zynga from a “neutral” rating to an “outperform” rating and upped their target price for the company from $5.00 to $8.00 in a research report on Thursday, May 2nd. ValuEngine raised Zynga from a “buy” rating to a “strong-buy” rating in a report on Thursday, February 28th. BidaskClub cut Zynga from a “strong-buy” rating to a “buy” rating in a report on Wednesday, March 20th. KeyCorp boosted their price target on Zynga from $5.00 to $6.00 and gave the stock an “overweight” rating in a report on Monday, April 29th. Finally, Stephens boosted their price target on Zynga from $5.25 to $6.50 and gave the stock an “equal weight” rating in a report on Thursday, May 2nd. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, eleven have issued a buy rating and two have assigned a strong buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus target price of $6.52.
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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 Apple iOS and Google's Android operating systems, as well as on social networking sites, such as Facebook. It also provides advertising services comprising mobile and display ads, engagement ads and offers, and branded virtual items and sponsorships to advertising agencies and brokers; and licenses its own brands.
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