CenturyLink Investment Management Co cut its stake in Zynga Inc (NASDAQ:ZNGA) by 8.5% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 326,138 shares of the company’s stock after selling 30,164 shares during the period. CenturyLink Investment Management Co’s holdings in Zynga were worth $1,327,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds also recently bought and sold shares of the company. Artisan Partners Limited Partnership raised its holdings in shares of Zynga by 103.6% during the first quarter. Artisan Partners Limited Partnership now owns 38,005,725 shares of the company’s stock worth $139,101,000 after purchasing an additional 19,341,666 shares during the period. BlackRock Inc. raised its holdings in shares of Zynga by 37.0% during the first quarter. BlackRock Inc. now owns 44,372,272 shares of the company’s stock worth $162,402,000 after purchasing an additional 11,993,435 shares during the period. Point72 Asset Management L.P. raised its holdings in shares of Zynga by 276.2% during the first quarter. Point72 Asset Management L.P. now owns 15,963,897 shares of the company’s stock worth $58,428,000 after purchasing an additional 11,720,451 shares during the period. Teachers Advisors LLC raised its holdings in shares of Zynga by 287.4% during the fourth quarter. Teachers Advisors LLC now owns 13,288,462 shares of the company’s stock worth $53,154,000 after purchasing an additional 9,858,450 shares during the period. Finally, TIAA CREF Investment Management LLC raised its holdings in shares of Zynga by 134.4% during the fourth quarter. TIAA CREF Investment Management LLC now owns 5,824,839 shares of the company’s stock worth $23,299,000 after purchasing an additional 3,339,566 shares during the period. 70.73% of the stock is currently owned by hedge funds and other institutional investors.
In related news, COO Matthew S. Bromberg sold 20,000 shares of the stock in a transaction dated Wednesday, April 18th. The shares were sold at an average price of $3.57, for a total value of $71,400.00. Following the completion of the transaction, the chief operating officer now owns 340,056 shares in the company, valued at approximately $1,213,999.92. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Ellen F. Siminoff sold 12,000 shares of the stock in a transaction dated Tuesday, April 24th. The shares were sold at an average price of $3.52, for a total transaction of $42,240.00. Following the completion of the transaction, the director now owns 229,321 shares of the company’s stock, valued at approximately $807,209.92. The disclosure for this sale can be found here. Insiders sold a total of 56,000 shares of company stock valued at $212,160 in the last quarter. 11.87% of the stock is currently owned by insiders.
Zynga stock opened at $4.13 on Friday. The stock has a market cap of $3.55 billion, a PE ratio of 137.67, a PEG ratio of 2.23 and a beta of 0.48. Zynga Inc has a one year low of $3.20 and a one year high of $4.57.
Zynga (NASDAQ:ZNGA) last released its quarterly earnings results on Wednesday, May 2nd. The company reported $0.02 EPS for the quarter, hitting the consensus estimate of $0.02. The business had revenue of $208.23 million during the quarter, compared to analyst estimates of $204.05 million. Zynga had a net margin of 4.77% and a return on equity of 2.57%. The company’s quarterly revenue was up 7.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($0.01) earnings per share. research analysts expect that Zynga Inc will post 0.08 EPS for the current fiscal year.
A number of brokerages have weighed in on ZNGA. Benchmark reissued a “buy” rating and set a $5.00 target price (up from $4.36) on shares of Zynga in a report on Thursday, May 31st. ValuEngine raised shares of Zynga from a “hold” rating to a “buy” rating in a report on Monday, May 7th. BidaskClub raised shares of Zynga from a “sell” rating to a “hold” rating in a report on Friday, May 4th. Piper Jaffray Companies reissued an “overweight” rating and set a $5.00 target price on shares of Zynga in a report on Tuesday, May 29th. Finally, Jefferies Financial Group reissued a “buy” rating and set a $5.00 target price on shares of Zynga in a report on Friday, May 11th. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and eight have given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average target price of $4.47.
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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