Rhumbline Advisers Decreases Stake in Zynga Inc (NASDAQ:ZNGA)

Rhumbline Advisers reduced its stake in Zynga Inc (NASDAQ:ZNGA) by 0.7% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 689,017 shares of the company’s stock after selling 4,841 shares during the quarter. Rhumbline Advisers’ holdings in Zynga were worth $4,010,000 as of its most recent SEC filing.

Several other institutional investors also recently made changes to their positions in ZNGA. Renaissance Technologies LLC raised its position in shares of Zynga by 1,172.6% in the 2nd quarter. Renaissance Technologies LLC now owns 19,411,800 shares of the company’s stock valued at $118,994,000 after purchasing an additional 17,886,400 shares during the last quarter. Invesco Ltd. raised its position in Zynga by 592.1% during the 2nd quarter. Invesco Ltd. now owns 19,295,680 shares of the company’s stock worth $118,283,000 after buying an additional 16,507,732 shares during the last quarter. Scout Investments Inc. purchased a new position in Zynga during the 3rd quarter worth approximately $40,665,000. Nuveen Asset Management LLC raised its position in Zynga by 118.7% during the 2nd quarter. Nuveen Asset Management LLC now owns 10,830,278 shares of the company’s stock worth $66,390,000 after buying an additional 5,878,684 shares during the last quarter. Finally, Fiera Capital Corp raised its position in Zynga by 943.2% during the 2nd quarter. Fiera Capital Corp now owns 6,204,942 shares of the company’s stock worth $38,036,000 after buying an additional 5,610,160 shares during the last quarter. 72.00% of the stock is owned by hedge funds and other institutional investors.

NASDAQ:ZNGA opened at $6.28 on Friday. The company has a debt-to-equity ratio of 0.36, a current ratio of 2.12 and a quick ratio of 2.12. The firm has a market cap of $5.93 billion, a price-to-earnings ratio of 314.00, a price-to-earnings-growth ratio of 2.98 and a beta of 0.31. The company has a 50 day moving average price of $6.10 and a 200-day moving average price of $6.05. Zynga Inc has a 1-year low of $3.32 and a 1-year high of $6.65.

Zynga (NASDAQ:ZNGA) last posted its earnings results on Wednesday, October 30th. The company reported $0.05 earnings per share for the quarter, meeting the consensus estimate of $0.05. The firm had revenue of $345.29 million during the quarter, compared to analyst estimates of $330.56 million. Zynga had a net margin of 3.94% and a negative return on equity of 11.86%. The business’s quarterly revenue was up 48.0% on a year-over-year basis. During the same period in the previous year, the firm earned $0.01 EPS. On average, sell-side analysts anticipate that Zynga Inc will post 0.15 earnings per share for the current fiscal year.

A number of equities analysts have issued reports on the stock. Wedbush reissued an “outperform” rating and set a $9.00 price target on shares of Zynga in a research report on Tuesday, August 27th. BidaskClub raised shares of Zynga from a “strong sell” rating to a “sell” rating in a research report on Wednesday, October 9th. Robert W. Baird set a $8.00 price target on shares of Zynga and gave the stock a “buy” rating in a research report on Thursday, August 29th. Bank of America raised their price target on shares of Zynga from $6.60 to $6.70 and gave the stock a “neutral” rating in a research report on Thursday, August 1st. Finally, JPMorgan Chase & Co. reissued a “neutral” rating and set a $7.00 price target on shares of Zynga in a research report on Wednesday, September 18th. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and ten have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $7.17.

In other news, Director Ellen F. Siminoff sold 5,000 shares of Zynga stock in a transaction that occurred on Thursday, September 19th. The shares were sold at an average price of $6.11, for a total transaction of $30,550.00. Following the completion of the transaction, the director now directly owns 229,092 shares of the company’s stock, valued at approximately $1,399,752.12. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Bernard Jin Kim sold 54,678 shares of Zynga stock in a transaction that occurred on Friday, October 18th. The shares were sold at an average price of $6.21, for a total transaction of $339,550.38. Following the transaction, the insider now directly owns 782,899 shares of the company’s stock, valued at $4,861,802.79. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 337,890 shares of company stock valued at $2,028,282. Insiders own 9.40% of the company’s stock.

Zynga 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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