Zynga Inc. (ZNGA) Stake Held by Great West Life Assurance Co. Can
Great West Life Assurance Co. Can continued to hold its position in shares of Zynga Inc. (NASDAQ:ZNGA) during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 82,090 shares of the company’s stock at the end of the second quarter. Great West Life Assurance Co. Can’s holdings in Zynga were worth $297,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Gladstone Capital Management LLP acquired a new position in Zynga during the first quarter worth about $1,648,000. BlackRock Inc. grew its position in Zynga by 5,061.5% during the first quarter. BlackRock Inc. now owns 35,936,741 shares of the company’s stock worth $102,420,000 after buying an additional 35,240,491 shares during the period. Two Sigma Securities LLC grew its position in Zynga by 103.1% during the first quarter. Two Sigma Securities LLC now owns 101,074 shares of the company’s stock worth $288,000 after buying an additional 51,299 shares during the period. Morgan Stanley grew its position in Zynga by 30.4% during the first quarter. Morgan Stanley now owns 27,433,552 shares of the company’s stock worth $78,186,000 after buying an additional 6,397,949 shares during the period. Finally, UBS Group AG grew its position in Zynga by 1.2% during the first quarter. UBS Group AG now owns 9,532,580 shares of the company’s stock worth $27,168,000 after buying an additional 112,230 shares during the period. 68.19% of the stock is owned by hedge funds and other institutional investors.
Shares of Zynga Inc. (NASDAQ ZNGA) opened at 3.79 on Wednesday. Zynga Inc. has a 12 month low of $2.40 and a 12 month high of $3.86. The firm’s market cap is $3.28 billion. The company’s 50-day moving average is $3.66 and its 200-day moving average is $3.32.
Zynga (NASDAQ:ZNGA) last released its earnings results on Wednesday, August 2nd. The company reported $0.01 EPS for the quarter, missing analysts’ consensus estimates of $0.02 by ($0.01). Zynga had a negative return on equity of 3.83% and a negative net margin of 10.50%. The business had revenue of $209.20 million during the quarter, compared to the consensus estimate of $201.64 million. The company’s quarterly revenue was up 15.1% on a year-over-year basis. On average, equities research analysts forecast that Zynga Inc. will post $0.09 earnings per share for the current fiscal year.
In related news, Director Ellen F. Siminoff sold 12,000 shares of the business’s stock in a transaction that occurred on Friday, September 1st. The shares were sold at an average price of $3.77, for a total value of $45,240.00. Following the sale, the director now directly owns 134,478 shares in the company, valued at approximately $506,982.06. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders sold a total of 36,000 shares of company stock worth $132,360 over the last quarter. Insiders own 12.43% of the company’s stock.
Several research analysts have weighed in on ZNGA shares. Morgan Stanley restated an “overweight” rating and set a $3.70 target price on shares of Zynga in a research report on Saturday, July 22nd. Wedbush restated an “outperform” rating and set a $4.65 target price (up from $4.25) on shares of Zynga in a research report on Monday, July 31st. Zacks Investment Research upgraded shares of Zynga from a “hold” rating to a “buy” rating and set a $4.25 target price on the stock in a research report on Thursday, August 10th. Canaccord Genuity upped their target price on shares of Zynga from $3.00 to $3.50 and gave the stock a “hold” rating in a research report on Thursday, August 3rd. Finally, Piper Jaffray Companies set a $4.00 target price on shares of Zynga and gave the stock a “buy” rating in a research report on Thursday, August 3rd. Five equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. Zynga currently has a consensus rating of “Buy” and an average target price of $4.00.
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) 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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