Ardsley Advisory Partners LP purchased a new stake in shares of Zynga Inc (NASDAQ:ZNGA) during the second quarter, HoldingsChannel reports. The fund purchased 50,000 shares of the company’s stock, valued at approximately $307,000.
Other institutional investors have also added to or reduced their stakes in the company. Comerica Bank raised its stake in Zynga by 542.2% during the second quarter. Comerica Bank now owns 156,820 shares of the company’s stock valued at $977,000 after purchasing an additional 132,400 shares in the last quarter. Atria Investments LLC bought a new position in Zynga during the second quarter valued at $34,000. DekaBank Deutsche Girozentrale increased its position in Zynga by 29.0% during the second quarter. DekaBank Deutsche Girozentrale now owns 31,774 shares of the company’s stock valued at $192,000 after acquiring an additional 7,139 shares during the last quarter. Advisor Group Inc. increased its position in Zynga by 1,556.0% during the second quarter. Advisor Group Inc. now owns 32,243 shares of the company’s stock valued at $197,000 after acquiring an additional 30,296 shares during the last quarter. Finally, Meitav Dash Investments Ltd. increased its position in Zynga by 4.8% during the first quarter. Meitav Dash Investments Ltd. now owns 540,229 shares of the company’s stock valued at $2,842,000 after acquiring an additional 24,498 shares during the last quarter. 72.41% of the stock is currently owned by institutional investors.
NASDAQ ZNGA opened at $5.88 on Friday. The company’s 50-day moving average price is $5.92 and its 200-day moving average price is $5.82. The company has a current ratio of 1.99, a quick ratio of 1.99 and a debt-to-equity ratio of 0.33. The stock has a market cap of $5.54 billion, a PE ratio of 294.00, a PEG ratio of 2.94 and a beta of 0.31. Zynga Inc has a 12 month low of $3.32 and a 12 month high of $6.65.
Zynga (NASDAQ:ZNGA) last posted its quarterly earnings results on Wednesday, July 31st. The company reported ($0.06) EPS for the quarter, missing the Zacks’ consensus estimate of $0.03 by ($0.09). The company had revenue of $306.50 million during the quarter, compared to the consensus estimate of $293.18 million. Zynga had a negative return on equity of 10.42% and a negative net margin of 16.50%. The business’s revenue was up 41.2% compared to the same quarter last year. As a group, sell-side analysts forecast that Zynga Inc will post 0.13 earnings per share for the current year.
ZNGA has been the topic of a number of analyst reports. Morgan Stanley set a $7.00 price objective on shares of Zynga and gave the company a “buy” rating in a research report on Monday, July 15th. Bank of America boosted their price objective on shares of Zynga from $6.60 to $6.70 and gave the company a “neutral” rating in a research report on Thursday, August 1st. Stephens upgraded shares of Zynga from an “equal weight” rating to an “overweight” rating and boosted their price objective for the company from $6.50 to $8.25 in a research report on Thursday, May 30th. Robert W. Baird set a $8.00 price objective on shares of Zynga and gave the company a “buy” rating in a research report on Thursday, August 29th. Finally, ValuEngine cut shares of Zynga from a “buy” rating to a “hold” rating in a research report on Tuesday, August 6th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and eleven have issued a buy rating to the company. Zynga presently has an average rating of “Buy” and an average target price of $6.81.
In other news, insider Jeffrey Miles Ryan sold 36,798 shares of the company’s stock in a transaction dated Thursday, June 20th. The shares were sold at an average price of $6.09, for a total value of $224,099.82. Following the transaction, the insider now directly owns 10,667 shares in the company, valued at $64,962.03. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, COO Matthew S. Bromberg sold 41,500 shares of the company’s stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $5.68, for a total transaction of $235,720.00. Following the completion of the transaction, the chief operating officer now owns 631,458 shares in the company, valued at $3,586,681.44. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 161,298 shares of company stock worth $973,590. Company insiders own 9.40% of the company’s stock.
Zynga Company Profile
Zynga Inc develops, markets, and operates social games as live services in the United States and internationally. The company's games are played on mobile platforms, such as Apple iOS and Google's Android operating systems, as well as on social networking sites, such as Facebook. It also provides advertising services comprising mobile and display ads, engagement ads and offers, and branded virtual items and sponsorships to advertising agencies and brokers; and licenses its own brands.
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