Coatue Management LLC decreased its position in shares of Zynga Inc (NASDAQ:ZNGA) by 54.9% in the 2nd quarter, Holdings Channel reports. The firm owned 12,928 shares of the company’s stock after selling 15,757 shares during the quarter. Coatue Management LLC’s holdings in Zynga were worth $123,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Joseph P. Lucia & Associates LLC bought a new stake in shares of Zynga in the 2nd quarter valued at $26,000. Private Capital Group LLC boosted its position in Zynga by 58.6% during the first quarter. Private Capital Group LLC now owns 4,331 shares of the company’s stock valued at $30,000 after acquiring an additional 1,600 shares during the last quarter. Signaturefd LLC grew 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 acquiring an additional 2,203 shares during the period. Citizens Financial Group Inc RI bought a new position in shares of Zynga in the 2nd quarter worth about $38,000. Finally, GQ Asset Management LLC acquired a new position in shares of Zynga in the 1st quarter valued at about $47,000. Hedge funds and other institutional investors own 69.62% of the company’s stock.
A number of equities research analysts have weighed in on ZNGA shares. Morgan Stanley lifted their target price on Zynga from $11.00 to $11.50 and gave the stock an “overweight” rating in a report on Thursday, August 6th. Wedbush increased their target price on shares of Zynga from $11.50 to $13.25 and gave the stock an “outperform” rating in a research note on Thursday, August 6th. Cowen lifted their price target on shares of Zynga from $9.50 to $10.50 and gave the company an “outperform” rating in a research note on Tuesday, June 2nd. Barclays upgraded shares of Zynga from an “equal weight” rating to an “overweight” rating and set a $12.00 price objective on the stock in a report on Tuesday, June 9th. Finally, UBS Group raised their target price on Zynga from $8.30 to $12.50 and gave the company a “buy” rating in a research note on Thursday, July 16th. They noted that the move was a valuation call. Three research analysts have rated the stock with a sell rating, five have issued a hold rating and twelve have issued a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus price target of $10.71.
Shares of ZNGA stock traded down $0.35 during trading hours on Friday, reaching $8.75. The company had a trading volume of 30,593,555 shares, compared to its average volume of 20,815,748. Zynga Inc has a 12 month low of $5.59 and a 12 month high of $10.69. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.84 and a quick ratio of 1.84. The business has a fifty day simple moving average of $9.47 and a 200-day simple moving average of $8.30. The company has a market cap of $9.41 billion, a price-to-earnings ratio of -291.67, a price-to-earnings-growth ratio of 1.95 and a beta of 0.29.
Zynga (NASDAQ:ZNGA) last released its quarterly earnings results on Wednesday, August 5th. The company reported ($0.03) EPS for the quarter, missing analysts’ consensus estimates of $0.05 by ($0.08). Zynga had a negative net margin of 1.72% and a negative return on equity of 2.06%. The company had revenue of $518.13 million during the quarter, compared to analysts’ expectations of $503.07 million. On average, equities research analysts expect that Zynga Inc will post 0.22 earnings per share for the current year.
In other Zynga news, COO Matthew S. Bromberg sold 12,000 shares of Zynga stock in a transaction that occurred on Monday, August 24th. The shares were sold at an average price of $9.22, for a total transaction of $110,640.00. Following the transaction, the chief operating officer now owns 913,181 shares of the company’s stock, valued at approximately $8,419,528.82. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Ellen F. Siminoff sold 5,000 shares of the business’s stock in a transaction that occurred on Monday, June 15th. The stock was sold at an average price of $9.13, for a total value of $45,650.00. Following the completion of the transaction, the director now owns 138,898 shares in the company, valued at approximately $1,268,138.74. The disclosure for this sale can be found here. In the last quarter, insiders sold 440,063 shares of company stock valued at $4,052,842. 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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