Zynga Inc (ZNGA) COO Sells $253,565.00 in Stock

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Zynga Inc (NASDAQ:ZNGA) COO Matthew S. Bromberg sold 41,500 shares of the business’s stock in a transaction that occurred on Wednesday, May 15th. The stock was sold at an average price of $6.11, for a total value of $253,565.00. Following the completion of the sale, the chief operating officer now owns 707,203 shares of the company’s stock, valued at $4,321,010.33. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

Shares of ZNGA stock traded up $0.22 during trading hours on Thursday, reaching $6.23. 11,298,002 shares of the company’s stock were exchanged, compared to its average volume of 15,747,809. Zynga Inc has a fifty-two week low of $3.32 and a fifty-two week high of $6.31. The firm has a market cap of $5.78 billion, a PE ratio of 311.50, a price-to-earnings-growth ratio of 1.91 and a beta of 0.43.

Zynga (NASDAQ:ZNGA) last issued its quarterly earnings results on Wednesday, May 1st. The company reported ($0.14) EPS for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.17). Zynga had a negative return on equity of 7.09% and a negative net margin of 12.34%. The business had revenue of $265.00 million for the quarter, compared to analyst estimates of $255.45 million. During the same quarter last year, the firm earned $0.01 earnings per share. The firm’s quarterly revenue was up 27.4% compared to the same quarter last year. On average, equities analysts expect that Zynga Inc will post 0.14 EPS for the current fiscal year.

Several research firms recently weighed in on ZNGA. BidaskClub upgraded Zynga from a “hold” rating to a “buy” rating in a report on Thursday, April 25th. Benchmark restated a “buy” rating and issued a $8.00 target price (up from $5.00) on shares of Zynga in a report on Thursday, May 2nd. Barclays upgraded Zynga to a “hold” rating and set a $6.00 target price for the company in a report on Thursday, May 2nd. Jefferies Financial Group boosted their target price on Zynga from $5.75 to $7.00 and gave the stock a “buy” rating in a report on Thursday, May 2nd. Finally, Wedbush boosted their target price on Zynga from $6.40 to $7.50 and gave the stock an “outperform” rating in a report on Thursday, May 2nd. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, ten have assigned a buy rating and two have given a strong buy rating to the company. The company presently has an average rating of “Buy” and an average price target of $6.35.

Hedge funds have recently modified their holdings of the company. BlueMountain Capital Management LLC bought a new stake in shares of Zynga during the first quarter valued at approximately $5,507,000. Kiwi Wealth Investments Limited Partnership bought a new stake in shares of Zynga during the first quarter valued at approximately $2,305,000. Jane Street Group LLC bought a new stake in shares of Zynga during the first quarter valued at approximately $118,000. Blue Harbour Group L.P. increased its position in shares of Zynga by 6.9% during the first quarter. Blue Harbour Group L.P. now owns 6,470,500 shares of the company’s stock valued at $34,488,000 after purchasing an additional 417,500 shares during the period. Finally, Park West Asset Management LLC increased its position in shares of Zynga by 220.0% during the first quarter. Park West Asset Management LLC now owns 1,600,000 shares of the company’s stock valued at $8,528,000 after purchasing an additional 1,100,000 shares during the period. Institutional investors own 76.66% of the company’s stock.

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About Zynga

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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