Point72 Asset Management L.P. grew its stake in shares of Zynga Inc (NASDAQ:ZNGA) by 276.2% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 15,963,897 shares of the company’s stock after acquiring an additional 11,720,451 shares during the quarter. Point72 Asset Management L.P. owned about 1.86% of Zynga worth $58,428,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently bought and sold shares of the company. OppenheimerFunds Inc. increased its position in Zynga by 111.8% during the 4th quarter. OppenheimerFunds Inc. now owns 20,071,799 shares of the company’s stock worth $80,287,000 after purchasing an additional 10,596,901 shares in the last quarter. Swiss National Bank increased its position in Zynga by 2.8% during the 4th quarter. Swiss National Bank now owns 1,322,953 shares of the company’s stock worth $5,292,000 after purchasing an additional 36,100 shares in the last quarter. Teacher Retirement System of Texas increased its position in Zynga by 317.1% during the 4th quarter. Teacher Retirement System of Texas now owns 265,929 shares of the company’s stock worth $1,064,000 after purchasing an additional 202,166 shares in the last quarter. Stone Ridge Asset Management LLC acquired a new stake in Zynga during the 4th quarter worth approximately $980,000. Finally, Spark Investment Management LLC increased its position in Zynga by 54.7% during the 4th quarter. Spark Investment Management LLC now owns 4,241,800 shares of the company’s stock worth $16,967,000 after purchasing an additional 1,499,600 shares in the last quarter. 70.56% of the stock is owned by institutional investors.
A number of analysts recently issued reports on ZNGA shares. BidaskClub raised shares of Zynga from a “hold” rating to a “buy” rating in a research report on Friday, March 23rd. Benchmark reissued a “buy” rating and set a $5.00 target price (up previously from $4.36) on shares of Zynga in a research report on Thursday, May 31st. Wedbush set a $6.00 target price on shares of Zynga and gave the stock a “buy” rating in a research report on Wednesday, May 30th. Jefferies Financial Group reissued a “buy” rating and set a $5.00 target price on shares of Zynga in a research report on Friday, May 11th. Finally, ValuEngine upgraded Zynga from a “hold” rating to a “buy” rating in a report on Monday, May 7th. Two analysts have rated the stock with a sell rating, four have issued a hold rating and nine have assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average target price of $4.47.
Zynga (NASDAQ:ZNGA) last released its quarterly earnings results on Wednesday, May 2nd. The company reported $0.02 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.02. The firm had revenue of $208.23 million during the quarter, compared to analysts’ expectations of $204.05 million. Zynga had a return on equity of 2.57% and a net margin of 4.77%. Zynga’s quarterly revenue was up 7.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.01) EPS. equities analysts forecast that Zynga Inc will post 0.08 earnings per share for the current year.
In other news, COO Matthew S. Bromberg sold 20,000 shares of the stock in a transaction that occurred on Wednesday, April 18th. The stock was sold at an average price of $3.57, for a total transaction of $71,400.00. Following the completion of the transaction, the chief operating officer now directly owns 340,056 shares in the company, valued at approximately $1,213,999.92. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Ellen F. Siminoff sold 12,000 shares of the stock in a transaction that occurred on Thursday, May 24th. The shares were sold at an average price of $4.11, for a total value of $49,320.00. Following the transaction, the director now owns 234,743 shares of the company’s stock, valued at $964,793.73. The disclosure for this sale can be found here. In the last 90 days, insiders sold 56,000 shares of company stock valued at $208,560. 11.87% of the stock is owned by company insiders.
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 iOS and Android operating systems, as well as on social networking sites, including Facebook. It also provides advertising services comprising mobile and display ads, engagement ads and offers, and branded virtual goods and sponsorships to advertising agencies and brokers; and software licensing and maintenance services related to NaturalMotion technology, as well as licenses its own brands.
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