Cresset Asset Management LLC Purchases 13,003 Shares of Zynga Inc. (NASDAQ:ZNGA)

Cresset Asset Management LLC raised its position in shares of Zynga Inc. (NASDAQ:ZNGA) by 80.1% during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 29,233 shares of the company’s stock after acquiring an additional 13,003 shares during the period. Cresset Asset Management LLC’s holdings in Zynga were worth $311,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Renaissance Technologies LLC bought a new position in Zynga during the 1st quarter worth about $82,831,000. Diamond Hill Capital Management Inc. grew its holdings in Zynga by 27.6% during the 2nd quarter. Diamond Hill Capital Management Inc. now owns 20,302,504 shares of the company’s stock worth $215,816,000 after acquiring an additional 4,395,300 shares in the last quarter. Argent Capital Management LLC bought a new position in Zynga during the 1st quarter worth about $38,773,000. Davidson Kempner Capital Management LP grew its holdings in Zynga by 767.3% during the 1st quarter. Davidson Kempner Capital Management LP now owns 3,469,127 shares of the company’s stock worth $35,420,000 after acquiring an additional 3,069,127 shares in the last quarter. Finally, Ameriprise Financial Inc. grew its holdings in Zynga by 25.0% during the 1st quarter. Ameriprise Financial Inc. now owns 15,118,478 shares of the company’s stock worth $154,359,000 after acquiring an additional 3,024,629 shares in the last quarter. Hedge funds and other institutional investors own 82.90% of the company’s stock.

In other news, insider Jeffrey Miles Ryan sold 11,319 shares of the firm’s stock in a transaction that occurred on Thursday, July 1st. The shares were sold at an average price of $10.70, for a total transaction of $121,113.30. Following the sale, the insider now owns 20,591 shares of the company’s stock, valued at approximately $220,323.70. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO James Gerard Griffin sold 52,637 shares of the firm’s stock in a transaction that occurred on Monday, July 19th. The stock was sold at an average price of $10.36, for a total transaction of $545,319.32. Following the sale, the chief financial officer now directly owns 635,176 shares in the company, valued at approximately $6,580,423.36. The disclosure for this sale can be found here. In the last quarter, insiders sold 2,999,084 shares of company stock worth $32,381,489. 8.30% of the stock is owned by corporate insiders.

Several research analysts have issued reports on ZNGA shares. Morgan Stanley dropped their target price on shares of Zynga from $14.00 to $12.75 and set an “overweight” rating on the stock in a report on Friday, August 6th. BMO Capital Markets decreased their price target on shares of Zynga from $15.00 to $11.00 and set an “outperform” rating for the company in a research report on Monday, August 9th. Barclays decreased their price target on shares of Zynga from $14.00 to $12.00 and set an “overweight” rating for the company in a research report on Friday, August 6th. UBS Group decreased their price target on shares of Zynga from $14.50 to $13.50 and set a “buy” rating for the company in a research report on Friday, August 6th. Finally, Zacks Investment Research raised shares of Zynga from a “hold” rating to a “buy” rating and set a $12.00 price target for the company in a research report on Friday, July 9th. One analyst has rated the stock with a sell rating and fifteen have issued a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Buy” and an average price target of $12.23.

Shares of NASDAQ:ZNGA opened at $7.64 on Friday. Zynga Inc. has a twelve month low of $7.55 and a twelve month high of $12.32. The company’s 50 day moving average is $8.91 and its 200 day moving average is $9.93. The company has a current ratio of 1.31, a quick ratio of 1.31 and a debt-to-equity ratio of 0.44. The company has a market cap of $8.32 billion, a PE ratio of -47.75 and a beta of 0.03.

Zynga (NASDAQ:ZNGA) last issued its quarterly earnings results on Thursday, August 5th. The company reported $0.02 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.05 by ($0.03). Zynga had a positive return on equity of 0.71% and a negative net margin of 6.76%. The business had revenue of $711.90 million during the quarter, compared to analyst estimates of $713.58 million. Equities research analysts predict that Zynga Inc. will post 0.21 earnings per share for the current fiscal year.

Zynga Profile

Zynga, Inc provides social game services. It develops, markets and operates social games as live services played on mobile platforms such as Apple’s iOS operating system and Google’s Android operating system, and social networking sites such as Facebook. It offers Chess with Friends, Crazy Cake Swap, Draw Something, FarmVille, Gems with Friends, Ice Age: Arctic Blast, Looney Tunes Dash, Speed Guess Something, What’s The Phrase, Wizard of Oz Magic Match, Yummy Gummy, Free Slots, Black Diamond Casino, Hit It Rich, Zynga Poker and Willy Wonka Slots.

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Institutional Ownership by Quarter for Zynga (NASDAQ:ZNGA)

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