Zynga Inc. (ZNGA) Trading -0.4% Higher

zynga-inc-znga-trading-04-higher.jpg

Zynga Inc. (NASDAQ:ZNGA) traded up 0.4% during trading on Tuesday . The stock traded as high as $2.85 and last traded at $2.83, with a volume of 16,530,464 shares. The stock had previously closed at $2.84.
A number of research analysts recently issued reports on the stock. FBR & Co restated an “outperform” rating and set a $4.25 target price on shares of Zynga in a research report on Tuesday. Pacific Crest restated a “hold” rating on shares of Zynga in a research report on Friday, August 5th. Robert W. Baird restated a “neutral” rating and set a $3.00 target price on shares of Zynga in a research report on Saturday, August 6th. Cowen and Company upgraded shares of Zynga from a “market perform” rating to an “outperform” rating and set a $3.50 target price for the company 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 equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and five have issued a buy rating to the company. The company has a consensus rating of “Hold” and a consensus price target of $3.17.
The firm’s market capitalization is $2.52 billion. The stock’s 50 day moving average is $2.76 and its 200 day moving average is $2.55.

This story is the sole property of American Banking News and it was originally published by American Banking News. If you are reading this story on another website, that means this article was illegally copied and re-published to this website in violation of U.S. and International copyright law. The original version of this article is available at http://www.americanbankingnews.com/2016/09/13/zynga-inc-znga-trading-0-4-higher.html

In related 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 transaction of $114,453.69. Following the completion of the sale, the vice president now owns 77,799 shares in the company, valued at approximately $220,171.17. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Frank D. Gibeau sold 159,614 shares of the stock in a transaction on Thursday, June 16th. The stock was sold at an average price of $2.60, for a total transaction of $414,996.40. Following the sale, the chief executive officer now owns 489,964 shares of the company’s stock, valued at approximately $1,273,906.40. The disclosure for this sale can be found here. 16.60% of the stock is currently owned by corporate insiders.
Several hedge funds have recently added to or reduced their stakes in the company. Penserra Capital Management LLC boosted its stake in Zynga by 3.5% in the second quarter. Penserra Capital Management LLC now owns 49,442 shares of the company’s stock valued at $123,000 after buying an additional 1,656 shares during the period. Sterling Capital Management LLC purchased a new stake in Zynga during the second quarter valued at approximately $124,000. Jefferies Group LLC purchased a new stake in Zynga during the second quarter valued at approximately $130,000. Point72 Asia Hong Kong Ltd purchased a new stake in Zynga during the second quarter valued at approximately $160,000. Finally, Legal & General Group Plc boosted its stake in Zynga by 75.2% in the second quarter. Legal & General Group Plc now owns 71,503 shares of the company’s stock valued at $178,000 after buying an additional 30,687 shares during the period. Institutional investors own 59.36% of the company’s stock.
About Zynga
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.

Receive News & Ratings for Zynga Inc. Daily – Enter your email address below to receive a concise daily summary of the latest news and analysts’ ratings for Zynga Inc. and related companies with MarketBeat.com’s FREE daily email newsletter.

Be the first to comment on "Zynga Inc. (ZNGA) Trading -0.4% Higher"

Leave a comment

Your email address will not be published.

*