BlackRock Advisors LLC increased its stake in Zynga Inc. (NASDAQ:ZNGA) by 0.8% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 3,855,325 shares of the company’s stock after buying an additional 30,578 shares during the period. BlackRock Advisors LLC owned approximately 0.44% of Zynga worth $9,600,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Penserra Capital Management LLC boosted its stake in shares of Zynga by 3.5% in the second quarter. Penserra Capital Management LLC now owns 49,442 shares of the company’s stock valued at $123,000 after buying an additional 1,656 shares in the last quarter. Tower Research Capital LLC TRC acquired a new stake in shares of Zynga during the second quarter valued at $186,000. Teacher Retirement System of Texas boosted its stake in shares of Zynga by 4.6% in the second quarter. Teacher Retirement System of Texas now owns 102,932 shares of the company’s stock valued at $256,000 after buying an additional 4,512 shares in the last quarter. Dynamic Technology Lab Private Ltd acquired a new stake in shares of Zynga during the second quarter valued at $268,000. Finally, Principal Financial Group Inc. boosted its stake in shares of Zynga by 2.5% in the second quarter. Principal Financial Group Inc. now owns 113,942 shares of the company’s stock valued at $284,000 after buying an additional 2,793 shares in the last quarter. Institutional investors own 59.36% of the company’s stock.
Shares of Zynga Inc. (NASDAQ:ZNGA) opened at 2.94 on Friday. The stock’s market cap is $2.59 billion. Zynga Inc. has a 1-year low of $1.78 and a 1-year high of $3.02. The firm has a 50-day moving average of $2.81 and a 200 day moving average of $2.63.
Several brokerages recently weighed in on ZNGA. Robert W. Baird reissued a “neutral” rating and issued a $3.00 price objective on shares of Zynga in a research note on Saturday, August 6th. TheStreet raised shares of Zynga from a “sell” rating to a “hold” rating in a research report on Wednesday, July 27th. Pacific Crest reaffirmed a “hold” rating on shares of Zynga in a research report on Friday, August 5th. FBR & Co reaffirmed an “outperform” rating and set a $4.25 price target on shares of Zynga in a research report on Tuesday, September 13th. Finally, Jefferies Group reaffirmed a “buy” rating on shares of Zynga in a research report on Monday, July 11th. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and five have issued a buy rating to the stock. The company presently has an average rating of “Hold” and an average price target of $3.17.
In other news, VP Devang Shah sold 18,791 shares of Zynga stock in a transaction dated Monday, July 18th. The shares were sold at an average price of $2.83, for a total transaction of $53,178.53. Following the sale, the vice president now owns 77,799 shares of the company’s stock, valued at approximately $220,171.17. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 16.60% of the stock is currently owned by company insiders.
Zynga Inc is a provider of social game services. The Company develops, markets and operates social games as live services played on mobile platforms, such as iPhone Operating System (iOS) and Android and social networking sites, such as Facebook. The Company operates through developing and monetizing social games segment.
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