TIAA CREF Investment Management LLC Sells 55,125 Shares of Zynga Inc. (NASDAQ:ZNGA)
TIAA CREF Investment Management LLC lowered its stake in shares of Zynga Inc. (NASDAQ:ZNGA) by 2.2% during the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 2,434,508 shares of the company’s stock after selling 55,125 shares during the period. TIAA CREF Investment Management LLC owned approximately 0.28% of Zynga worth $6,938,000 at the end of the most recent quarter.
Other large investors also recently modified their holdings of the company. Gladstone Capital Management LLP bought a new stake in shares of Zynga during the first quarter valued at $1,648,000. GSA Capital Partners LLP boosted its stake in shares of Zynga by 132.3% in the fourth quarter. GSA Capital Partners LLP now owns 57,935 shares of the company’s stock valued at $149,000 after buying an additional 32,994 shares in the last quarter. River & Mercantile Asset Management LLP bought a new stake in shares of Zynga during the fourth quarter valued at $4,487,000. Clinton Group Inc. boosted its stake in shares of Zynga by 0.7% in the first quarter. Clinton Group Inc. now owns 61,082 shares of the company’s stock valued at $174,000 after buying an additional 423 shares in the last quarter. Finally, UBS Asset Management Americas Inc. boosted its stake in shares of Zynga by 15.7% in the first quarter. UBS Asset Management Americas Inc. now owns 448,393 shares of the company’s stock valued at $1,278,000 after buying an additional 60,954 shares in the last quarter. Institutional investors own 66.31% of the company’s stock.
Shares of Zynga Inc. (NASDAQ ZNGA) traded up 0.84% on Monday, hitting $3.60. The stock had a trading volume of 11,725,463 shares. Zynga Inc. has a 52-week low of $2.40 and a 52-week high of $3.86. The company has a 50-day moving average of $3.65 and a 200-day moving average of $3.11. The company’s market cap is $3.11 billion.
Zynga (NASDAQ:ZNGA) last announced its quarterly earnings results on Wednesday, August 2nd. The company reported $0.01 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.02 by $0.01. The firm had revenue of $209.20 million during 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 revenue for the quarter was up 15.1% compared to the same quarter last year. On average, equities analysts anticipate that Zynga Inc. will post $0.10 EPS for the current fiscal year.
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Several equities research analysts recently weighed in on ZNGA shares. Morgan Stanley restated an “overweight” rating and set a $3.70 target price on shares of Zynga in a report on Saturday, July 22nd. Wedbush reiterated an “outperform” rating and issued a $4.65 price objective (up previously from $4.25) on shares of Zynga in a report on Monday, July 31st. Zacks Investment Research cut Zynga from a “buy” rating to a “hold” rating in a report on Friday, July 7th. Pacific Crest reiterated a “sector weight” rating on shares of Zynga in a report on Wednesday, April 26th. Finally, Jefferies Group LLC reiterated a “buy” rating and issued a $5.00 price objective on shares of Zynga in a report on Tuesday, April 18th. Six investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company. The stock has a consensus rating of “Buy” and an average price target of $3.92.
In other Zynga news, Director Ellen F. Siminoff sold 12,000 shares of the company’s stock in a transaction on Thursday, June 1st. The stock was sold at an average price of $3.56, for a total transaction of $42,720.00. Following the completion of the sale, the director now owns 153,057 shares in the company, valued at $544,882.92. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director William B. Gordon sold 549,637 shares of the company’s stock in a transaction on Tuesday, May 30th. The stock was sold at an average price of $3.52, for a total value of $1,934,722.24. Following the sale, the director now owns 832,603 shares of the company’s stock, valued at approximately $2,930,762.56. The disclosure for this sale can be found here. Insiders sold 1,818,010 shares of company stock valued at $6,377,868 in the last quarter. 12.43% of the stock is owned by company insiders.
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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