Bank Julius Baer & Co. Ltd Zurich boosted its stake in shares of Zynga Inc. (NASDAQ:ZNGA) by 11.7% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 45,780 shares of the company’s stock after buying an additional 4,780 shares during the period. Bank Julius Baer & Co. Ltd Zurich’s holdings in Zynga were worth $357,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. Exchange Traded Concepts LLC raised its holdings in Zynga by 1,467.0% during the 3rd quarter. Exchange Traded Concepts LLC now owns 3,181 shares of the company’s stock worth $29,000 after buying an additional 2,978 shares during the period. Signaturefd LLC raised its holdings in Zynga by 201.4% during the 2nd quarter. Signaturefd LLC now owns 3,297 shares of the company’s stock worth $31,000 after buying an additional 2,203 shares during the period. Citizens Financial Group Inc RI purchased a new position in Zynga during the 2nd quarter valued at about $38,000. Captrust Financial Advisors purchased a new position in Zynga during the 2nd quarter valued at about $42,000. Finally, NEXT Financial Group Inc purchased a new position in Zynga during the 3rd quarter valued at about $43,000. Hedge funds and other institutional investors own 69.62% of the company’s stock.
In related news, Director Ellen F. Siminoff sold 5,000 shares of the business’s stock in a transaction that occurred on Monday, November 16th. The stock was sold at an average price of $7.94, for a total value of $39,700.00. Also, CEO Frank D. Gibeau sold 267,279 shares of the business’s stock in a transaction that occurred on Tuesday, September 15th. The stock was sold at an average price of $8.50, for a total value of $2,271,871.50. Following the completion of the sale, the chief executive officer now owns 404,930 shares of the company’s stock, valued at $3,441,905. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 463,666 shares of company stock valued at $3,949,045. Corporate insiders own 9.40% of the company’s stock.
ZNGA has been the topic of several research analyst reports. Berenberg Bank cut Zynga from a “buy” rating to a “hold” rating and set a $10.50 target price on the stock. in a research note on Tuesday, August 11th. BidaskClub raised Zynga from a “sell” rating to a “hold” rating in a research note on Monday, October 26th. JPMorgan Chase & Co. lifted their target price on Zynga from $9.00 to $10.00 and gave the company an “overweight” rating in a research note on Monday, October 26th. Wells Fargo & Company reaffirmed a “hold” rating on shares of Zynga in a research note on Thursday, August 13th. Finally, Morgan Stanley lowered their target price on Zynga from $11.50 to $11.00 and set an “overweight” rating on the stock in a research note on Monday, October 5th. Two analysts have rated the stock with a sell rating, five have assigned a hold rating and fourteen have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average target price of $10.75.
ZNGA opened at $8.35 on Friday. The business has a 50 day moving average price of $9.00 and a 200 day moving average price of $9.06. Zynga Inc. has a twelve month low of $5.65 and a twelve month high of $10.69. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.84 and a current ratio of 1.84. The firm has a market cap of $9.01 billion, a P/E ratio of -278.33, a price-to-earnings-growth ratio of 1.92 and a beta of 0.26.
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 and Snapchat.
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