322,000 Shares in Zynga Inc. (ZNGA) Purchased by AlphaOne Investment Services LLC
AlphaOne Investment Services LLC acquired a new position in Zynga Inc. (NASDAQ:ZNGA) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 322,000 shares of the company’s stock, valued at approximately $1,172,000.
A number of other hedge funds have also recently modified their holdings of ZNGA. Teachers Advisors LLC grew its position in Zynga by 4.6% in the 4th quarter. Teachers Advisors LLC now owns 750,305 shares of the company’s stock worth $1,928,000 after purchasing an additional 32,740 shares in the last quarter. Nationwide Fund Advisors grew its position in Zynga by 49.5% in the 1st quarter. Nationwide Fund Advisors now owns 311,912 shares of the company’s stock worth $889,000 after purchasing an additional 103,210 shares in the last quarter. Bank of New York Mellon Corp grew its position in Zynga by 3.6% in the 1st quarter. Bank of New York Mellon Corp now owns 2,542,644 shares of the company’s stock worth $7,247,000 after purchasing an additional 87,300 shares in the last quarter. Swiss National Bank grew its position in Zynga by 1.6% in the 1st quarter. Swiss National Bank now owns 1,277,553 shares of the company’s stock worth $3,641,000 after purchasing an additional 20,300 shares in the last quarter. Finally, UBS Asset Management Americas Inc. grew its position in Zynga by 15.7% in the 1st quarter. UBS Asset Management Americas Inc. now owns 448,393 shares of the company’s stock worth $1,278,000 after purchasing an additional 60,954 shares in the last quarter. 68.19% of the stock is owned by institutional investors and hedge funds.
In related news, Director Ellen F. Siminoff sold 12,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 1st. The shares were sold at an average price of $3.62, for a total value of $43,440.00. Following the transaction, the director now owns 158,478 shares of the company’s stock, valued at $573,690.36. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In the last three months, insiders sold 36,000 shares of company stock worth $132,360. 12.43% of the stock is currently owned by insiders.
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Zynga (NASDAQ:ZNGA) last posted its quarterly earnings data 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 business had revenue of $209.20 million during the quarter, compared to analysts’ expectations of $201.64 million. Zynga had a negative return on equity of 3.83% and a negative net margin of 10.50%. Zynga’s revenue for the quarter was up 15.1% compared to the same quarter last year.
A number of brokerages have issued reports on ZNGA. Morgan Stanley reaffirmed an “overweight” rating and issued a $3.70 price objective on shares of Zynga in a research report on Saturday, July 22nd. Robert W. Baird reaffirmed a “hold” rating and issued a $4.00 price objective on shares of Zynga in a research report on Friday, September 15th. Zacks Investment Research raised shares of Zynga from a “hold” rating to a “buy” rating and set a $4.25 price objective for the company in a research report on Thursday, August 10th. Wedbush reaffirmed an “outperform” rating and issued a $4.65 price objective (up from $4.25) on shares of Zynga in a research report on Wednesday, August 9th. Finally, Benchmark Co. reaffirmed a “buy” rating and issued a $4.35 price objective (up from $3.65) on shares of Zynga in a research report on Wednesday, August 9th. Five equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. Zynga has a consensus rating of “Buy” and an average target price of $4.06.
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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