Oppenheimer Asset Management Inc. boosted its holdings in Zynga Inc (NASDAQ:ZNGA) by 74.0% in the second quarter, HoldingsChannel reports. The institutional investor owned 88,531 shares of the company’s stock after purchasing an additional 37,652 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in Zynga were worth $542,000 at the end of the most recent reporting period.
Other large investors have also bought and sold shares of the company. BNP Paribas Arbitrage SA boosted its stake in shares of Zynga by 6.5% in the first quarter. BNP Paribas Arbitrage SA now owns 114,155 shares of the company’s stock worth $608,000 after acquiring an additional 6,949 shares during the period. Janus Henderson Group PLC raised its stake in Zynga by 438.6% during the 1st quarter. Janus Henderson Group PLC now owns 560,826 shares of the company’s stock valued at $2,989,000 after purchasing an additional 456,709 shares during the period. State Board of Administration of Florida Retirement System raised its stake in Zynga by 0.3% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 1,027,174 shares of the company’s stock valued at $5,475,000 after purchasing an additional 3,010 shares during the period. First Mercantile Trust Co. purchased a new position in Zynga in the 1st quarter worth approximately $144,000. Finally, MERIAN GLOBAL INVESTORS UK Ltd purchased a new position in Zynga in the 1st quarter worth approximately $426,000. 72.41% of the stock is currently owned by institutional investors and hedge funds.
ZNGA has been the subject of a number of research analyst reports. Robert W. Baird set a $8.00 price objective on shares of Zynga and gave the company a “buy” rating in a report on Thursday, August 29th. BidaskClub cut shares of Zynga from a “hold” rating to a “sell” rating in a research report on Friday, August 16th. Bank of America boosted their target price on shares of Zynga from $6.60 to $6.70 and gave the stock a “neutral” rating in a report on Thursday, August 1st. Wedbush restated an “outperform” rating and set a $9.00 target price on shares of Zynga in a research report on Tuesday, August 27th. Finally, ValuEngine cut shares of Zynga from a “buy” rating to a “hold” rating in a research note on Tuesday, August 6th. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and eleven have given a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus target price of $6.81.
NASDAQ:ZNGA traded up $0.04 during trading hours on Wednesday, reaching $5.76. The stock had a trading volume of 299,003 shares, compared to its average volume of 18,700,724. The stock has a market capitalization of $5.39 billion, a PE ratio of 287.00, a PEG ratio of 2.94 and a beta of 0.31. Zynga Inc has a 52 week low of $3.32 and a 52 week high of $6.65. The company has a 50 day moving average price of $5.92 and a two-hundred day moving average price of $5.82. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.99 and a current ratio of 1.99.
Zynga (NASDAQ:ZNGA) last posted its earnings results on Wednesday, July 31st. The company reported ($0.06) EPS for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.09). Zynga had a negative net margin of 16.50% and a negative return on equity of 10.42%. The firm had revenue of $306.50 million for the quarter, compared to the consensus estimate of $293.18 million. The company’s quarterly revenue was up 41.2% on a year-over-year basis. Equities research analysts predict that Zynga Inc will post 0.13 EPS for the current year.
In related news, insider Jeffrey Miles Ryan sold 36,798 shares of Zynga stock in a transaction dated Thursday, June 20th. The stock was sold at an average price of $6.09, for a total value of $224,099.82. Following the completion of the transaction, the insider now 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 this hyperlink. Also, COO Matthew S. Bromberg sold 41,500 shares of Zynga stock in a transaction dated Monday, July 15th. The stock was sold at an average price of $6.30, for a total value of $261,450.00. Following the completion of the transaction, the chief operating officer now owns 659,146 shares of the company’s stock, valued at approximately $4,152,619.80. The disclosure for this sale can be found here. Insiders sold 161,298 shares of company stock worth $973,590 in the last 90 days. 9.40% of the stock is currently owned by company insiders.
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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