A number of other equities research analysts have also recently weighed in on the stock. Stifel Nicolaus initiated coverage on shares of Zynga in a research report on Thursday, September 27th. They set a buy rating and a $5.00 price target for the company. Barclays initiated coverage on shares of Zynga in a research report on Thursday, August 9th. They set an underweight rating and a $3.70 price target for the company. BidaskClub cut shares of Zynga from a sell rating to a strong sell rating in a research report on Friday, August 17th. Jefferies Financial Group reiterated a buy rating and set a $5.25 price target on shares of Zynga in a research report on Thursday, October 11th. Finally, ValuEngine upgraded shares of Zynga from a hold rating to a buy rating in a research report on Wednesday, October 3rd. Four investment analysts have rated the stock with a sell rating, one has assigned a hold rating and seven have assigned a buy rating to the stock. The company presently has a consensus rating of Hold and a consensus target price of $4.82.
Shares of ZNGA opened at $3.76 on Thursday. Zynga has a 1-year low of $3.20 and a 1-year high of $4.57. The stock has a market cap of $3.23 billion, a price-to-earnings ratio of 125.33, a P/E/G ratio of 2.39 and a beta of 0.42.
In related news, Director Mark J. Pincus sold 437,322 shares of Zynga stock in a transaction that occurred on Monday, October 29th. The shares were sold at an average price of $3.70, for a total value of $1,618,091.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Matthew S. Bromberg sold 41,500 shares of Zynga stock in a transaction that occurred on Friday, September 21st. The shares were sold at an average price of $3.95, for a total transaction of $163,925.00. Following the completion of the transaction, the chief operating officer now owns 493,294 shares of the company’s stock, valued at approximately $1,948,511.30. The disclosure for this sale can be found here. Insiders sold 576,322 shares of company stock valued at $2,177,796 in the last 90 days. Company insiders own 11.87% of the company’s stock.
Hedge funds have recently made changes to their positions in the stock. Lourd Capital LLC acquired a new position in shares of Zynga in the third quarter valued at approximately $109,000. Macquarie Group Ltd. acquired a new position in shares of Zynga in the second quarter valued at approximately $117,000. Dynasty Wealth Management LLC acquired a new position in shares of Zynga in the second quarter valued at approximately $126,000. Bank of Montreal Can grew its holdings in shares of Zynga by 111.1% in the third quarter. Bank of Montreal Can now owns 32,809 shares of the company’s stock valued at $131,000 after purchasing an additional 17,269 shares in the last quarter. Finally, Oakbrook Investments LLC grew its holdings in shares of Zynga by 187.0% in the third quarter. Oakbrook Investments LLC now owns 37,450 shares of the company’s stock valued at $150,000 after purchasing an additional 24,400 shares in the last quarter. Hedge funds and other institutional investors own 73.97% 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 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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