Zynga Inc. (ZNGA) Sees Strong Trading Volume
Shares of Zynga Inc. (NASDAQ:ZNGA) saw an uptick in trading volume on Thursday . 8,215,685 shares were traded during mid-day trading, a decline of 12% from the previous session’s volume of 9,366,260 shares.The stock last traded at $3.94 and had previously closed at $3.88.
Several research firms have commented on ZNGA. KeyCorp reissued a “hold” rating on shares of Zynga in a report on Tuesday. Wedbush set a $5.00 target price on Zynga and gave the stock a “buy” rating in a report on Wednesday. Zacks Investment Research downgraded Zynga from a “buy” rating to a “hold” rating in a report on Thursday, October 5th. Morgan Stanley reaffirmed an “overweight” rating and set a $3.70 price target on shares of Zynga in a report on Saturday, July 22nd. Finally, Robert W. Baird reaffirmed a “hold” rating and set a $4.00 price target on shares of Zynga in a report on Friday, September 15th. Seven analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus target price of $4.09.
The firm has a 50 day moving average price of $3.79 and a 200-day moving average price of $3.52. The firm’s market capitalization is $3.41 billion.
Zynga (NASDAQ:ZNGA) last posted its earnings results on Wednesday, August 2nd. The company reported $0.01 EPS for the quarter, missing the consensus estimate 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 net margin of 10.50% and a negative return on equity of 3.83%. Zynga’s revenue was up 15.1% compared to the same quarter last year. Equities analysts expect that Zynga Inc. will post $0.10 earnings per share for the current fiscal year.
In other Zynga news, Director Ellen F. Siminoff sold 12,000 shares of the firm’s stock in a transaction dated Monday, October 2nd. The stock was sold at an average price of $3.79, for a total transaction of $45,480.00. Following the transaction, the director now owns 122,478 shares of the company’s stock, valued at $464,191.62. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders sold 36,000 shares of company stock worth $134,160 in the last three months. 12.43% of the stock is currently owned by corporate insiders.
Several institutional investors and hedge funds have recently made changes to their positions in ZNGA. World Asset Management Inc boosted its stake in shares of Zynga by 0.4% during the second quarter. World Asset Management Inc now owns 27,842 shares of the company’s stock worth $101,000 after buying an additional 98 shares during the period. The Manufacturers Life Insurance Company lifted its position in Zynga by 23.2% in the second quarter. The Manufacturers Life Insurance Company now owns 30,835 shares of the company’s stock valued at $112,000 after purchasing an additional 5,815 shares during the period. HighTower Advisors LLC acquired a new stake in Zynga in the first quarter valued at about $116,000. Prudential Financial Inc. lifted its position in Zynga by 9.1% in the second quarter. Prudential Financial Inc. now owns 44,500 shares of the company’s stock valued at $162,000 after purchasing an additional 3,700 shares during the period. Finally, Timber Hill LLC lifted its position in Zynga by 49.0% in the second quarter. Timber Hill LLC now owns 44,446 shares of the company’s stock valued at $162,000 after purchasing an additional 14,616 shares during the period. Institutional investors and hedge funds own 68.21% of the company’s stock.
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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