Natixis Decreases Stake in Zynga Inc (NASDAQ:ZNGA)

Natixis cut its position in shares of Zynga Inc (NASDAQ:ZNGA) by 22.0% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,021,078 shares of the company’s stock after selling 571,611 shares during the period. Natixis owned approximately 0.21% of Zynga worth $12,389,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Parametrica Management Ltd purchased a new position in shares of Zynga during the second quarter valued at approximately $78,000. GAM Holding AG increased its position in shares of Zynga by 113.5% during the second quarter. GAM Holding AG now owns 233,516 shares of the company’s stock worth $1,431,000 after acquiring an additional 124,128 shares during the period. Brown Advisory Inc. raised its stake in shares of Zynga by 4.3% during the second quarter. Brown Advisory Inc. now owns 7,732,516 shares of the company’s stock valued at $47,401,000 after acquiring an additional 316,884 shares in the last quarter. Renaissance Technologies LLC raised its stake in shares of Zynga by 1,172.6% during the second quarter. Renaissance Technologies LLC now owns 19,411,800 shares of the company’s stock valued at $118,994,000 after acquiring an additional 17,886,400 shares in the last quarter. Finally, Bank of New York Mellon Corp boosted its holdings in shares of Zynga by 9.3% in the second quarter. Bank of New York Mellon Corp now owns 3,039,833 shares of the company’s stock valued at $18,634,000 after purchasing an additional 259,146 shares during the period. Institutional investors and hedge funds own 72.41% of the company’s stock.

In other Zynga news, COO Matthew S. Bromberg sold 41,500 shares of Zynga stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $5.68, for a total value of $235,720.00. Following the completion of the transaction, the chief operating officer now owns 631,458 shares of the company’s stock, valued at $3,586,681.44. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Jeffrey Miles Ryan sold 36,798 shares of the company’s stock in a transaction dated Thursday, June 20th. The stock was sold at an average price of $6.09, for a total transaction of $224,099.82. Following the completion of the transaction, the insider now owns 10,667 shares of the company’s stock, valued at approximately $64,962.03. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 161,298 shares of company stock worth $973,590. 9.40% of the stock is owned by corporate insiders.

Several equities analysts have recently commented on the company. Wedbush restated an “outperform” rating and set a $9.00 price target on shares of Zynga in a research note on Tuesday, August 27th. ValuEngine lowered shares of Zynga from a “buy” rating to a “hold” rating in a research note on Tuesday, August 6th. BidaskClub cut shares of Zynga from a “hold” rating to a “sell” rating in a report on Friday, August 16th. Morgan Stanley set a $7.00 target price on shares of Zynga and gave the stock a “buy” rating in a report on Monday, July 15th. Finally, Robert W. Baird set a $8.00 target price on shares of Zynga and gave the company a “buy” rating in a research report on Thursday, August 29th. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and eleven have issued a buy rating to the company’s stock. Zynga currently has a consensus rating of “Buy” and an average target price of $6.81.

Shares of NASDAQ ZNGA traded up $0.06 during midday trading on Wednesday, reaching $5.78. The company had a trading volume of 532,330 shares, compared to its average volume of 18,700,724. The business’s 50-day simple moving average is $5.92 and its 200 day simple moving average is $5.82. The stock has a market cap of $5.39 billion, a P/E ratio of 289.25, a P/E/G ratio of 2.94 and a beta of 0.31. Zynga Inc has a 1 year low of $3.32 and a 1 year high of $6.65. The company has a current ratio of 1.99, a quick ratio of 1.99 and a debt-to-equity ratio of 0.33.

Zynga (NASDAQ:ZNGA) last posted its quarterly earnings results on Wednesday, July 31st. The company reported ($0.06) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.03 by ($0.09). Zynga had a negative net margin of 16.50% and a negative return on equity of 10.42%. The firm had revenue of $306.50 million for the quarter, compared to analysts’ expectations of $293.18 million. The company’s revenue was up 41.2% on a year-over-year basis. Analysts predict that Zynga Inc will post 0.13 earnings per share for the current year.

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 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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Institutional Ownership by Quarter for Zynga (NASDAQ:ZNGA)

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