Fulton Bank N. A. raised its stake in shares of Zynga Inc (NASDAQ:ZNGA) by 13.3% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 13,901 shares of the company’s stock after buying an additional 1,632 shares during the quarter. Fulton Bank N. A.’s holdings in Zynga were worth $127,000 at the end of the most recent reporting period.
A number of other hedge funds also recently bought and sold shares of the business. Creative Financial Designs Inc. ADV grew its holdings in Zynga by 78.8% during the 3rd quarter. Creative Financial Designs Inc. ADV now owns 12,625 shares of the company’s stock valued at $115,000 after buying an additional 5,564 shares in the last quarter. Schonfeld Strategic Advisors LLC grew its holdings in Zynga by 385.1% during the 2nd quarter. Schonfeld Strategic Advisors LLC now owns 456,098 shares of the company’s stock valued at $4,351,000 after buying an additional 362,067 shares in the last quarter. Mitsubishi UFJ Trust & Banking Corp grew its holdings in Zynga by 27.3% during the 2nd quarter. Mitsubishi UFJ Trust & Banking Corp now owns 55,182 shares of the company’s stock valued at $526,000 after buying an additional 11,827 shares in the last quarter. Principal Financial Group Inc. grew its holdings in Zynga by 8.1% during the 2nd quarter. Principal Financial Group Inc. now owns 121,724 shares of the company’s stock valued at $1,161,000 after buying an additional 9,155 shares in the last quarter. Finally, Teachers Retirement System of The State of Kentucky purchased a new position in Zynga during the 2nd quarter valued at about $830,000. 69.62% of the stock is owned by institutional investors and hedge funds.
A number of analysts have recently issued reports on the company. Robert W. Baird lifted their price target on Zynga from $10.00 to $12.00 in a research report on Thursday, August 6th. Piper Sandler boosted their target price on Zynga from $11.00 to $13.00 and gave the stock an “overweight” rating in a research report on Thursday, August 6th. Morgan Stanley dropped their target price on Zynga from $11.50 to $11.00 and set an “overweight” rating for the company in a research report on Monday. UBS Group boosted their target price on Zynga from $8.30 to $12.50 and gave the stock a “buy” rating in a research report on Thursday, July 16th. They noted that the move was a valuation call. Finally, BidaskClub upgraded Zynga from a “strong sell” rating to a “sell” rating in a research report on Tuesday, September 22nd. Three investment analysts have rated the stock with a sell rating, five have given a hold rating and thirteen have issued a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus target price of $10.75.
In related news, Director Ellen F. Siminoff sold 5,000 shares of the company’s stock in a transaction on Wednesday, July 15th. The stock was sold at an average price of $9.46, for a total value of $47,300.00. Following the sale, the director now directly owns 138,898 shares of the company’s stock, valued at $1,313,975.08. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, COO Matthew S. Bromberg sold 12,000 shares of the company’s stock in a transaction on Wednesday, July 22nd. The stock was sold at an average price of $9.82, for a total value of $117,840.00. Following the completion of the sale, the chief operating officer now directly owns 860,704 shares in the company, valued at $8,452,113.28. The disclosure for this sale can be found here. Insiders have sold 434,707 shares of company stock worth $3,793,437 over the last three months. Insiders own 9.40% of the company’s stock.
ZNGA opened at $9.30 on Friday. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.84 and a current ratio of 1.84. Zynga Inc has a 52-week low of $5.65 and a 52-week high of $10.69. The stock has a market capitalization of $10.00 billion, a PE ratio of -310.00, a price-to-earnings-growth ratio of 1.82 and a beta of 0.29. The stock’s 50 day moving average price is $8.93 and its 200-day moving average price is $8.65.
Zynga (NASDAQ:ZNGA) last posted its earnings results on Wednesday, August 5th. The company reported ($0.03) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate 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 business had revenue of $518.13 million for the quarter, compared to analysts’ expectations of $503.07 million. Research analysts forecast that Zynga Inc will post 0.23 EPS for the current fiscal year.
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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