Retirement Systems of Alabama Has $16,135,000 Stake in Zynga Inc. (ZNGA)
Retirement Systems of Alabama raised its position in Zynga Inc. (NASDAQ:ZNGA) by 190.6% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 6,480,000 shares of the company’s stock after buying an additional 4,250,000 shares during the period. Retirement Systems of Alabama owned approximately 0.74% of Zynga worth $16,135,000 as of its most recent filing with the SEC.
Other large investors have also bought and sold shares of the company. DNB Asset Management AS raised its stake in Zynga by 48.5% in the second quarter. DNB Asset Management AS now owns 12,384,136 shares of the company’s stock worth $30,836,000 after buying an additional 4,043,929 shares in the last quarter. Renaissance Technologies LLC increased its position in Zynga by 26.1% in the first quarter. Renaissance Technologies LLC now owns 9,521,600 shares of the company’s stock worth $21,709,000 after buying an additional 1,973,227 shares in the last quarter. Jacobs Levy Equity Management Inc. increased its position in Zynga by 70.0% in the first quarter. Jacobs Levy Equity Management Inc. now owns 5,086,950 shares of the company’s stock worth $11,598,000 after buying an additional 2,094,986 shares in the last quarter. JPMorgan Chase & Co. increased its position in Zynga by 2,280.1% in the first quarter. JPMorgan Chase & Co. now owns 3,567,526 shares of the company’s stock worth $8,134,000 after buying an additional 3,417,638 shares in the last quarter. Finally, Norges Bank bought a new position in Zynga during the fourth quarter worth $8,264,000. Institutional investors own 59.36% of the company’s stock.
Shares of Zynga Inc. (NASDAQ:ZNGA) traded up 3.56% on Friday, reaching $2.91. 16,957,843 shares of the company were exchanged. Zynga Inc. has a 52 week low of $1.78 and a 52 week high of $3.02. The company’s market capitalization is $2.57 billion. The company’s 50-day moving average is $2.77 and its 200-day moving average is $2.61.
ZNGA has been the topic of several recent analyst reports. Wedbush reiterated a “buy” rating and issued a $4.25 target price on shares of Zynga in a research note on Sunday, September 11th. Jefferies Group restated a “buy” rating on shares of Zynga in a research report on Monday, July 11th. FBR & Co restated an “outperform” rating and set a $4.25 price objective on shares of Zynga in a research report on Tuesday, September 13th. Cowen and Company upgraded shares of Zynga from a “market perform” rating to an “outperform” rating and set a $3.50 price objective on the stock in a research report on Wednesday, August 3rd. Finally, TheStreet upgraded shares of Zynga from a “sell” rating to a “hold” rating in a research report on Wednesday, July 27th. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and five have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average target price of $3.17.
In other news, VP Devang Shah sold 40,443 shares of the stock in a transaction on Tuesday, July 19th. The shares were sold at an average price of $2.83, for a total value of $114,453.69. Following the sale, the vice president now owns 77,799 shares of the company’s stock, valued at $220,171.17. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 16.60% of the stock is currently owned by insiders.
Zynga Company Profile
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) and Android and social networking sites, such as Facebook. The Company operates through developing and monetizing social games segment.
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