Two Sigma Advisers LP trimmed its position in shares of Zynga Inc (NASDAQ:ZNGA) by 13.6% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 11,423,827 shares of the company’s stock after selling 1,803,300 shares during the quarter. Two Sigma Advisers LP owned approximately 1.06% of Zynga worth $108,983,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors have also recently modified their holdings of the company. Public Employees Retirement Association of Colorado raised its holdings in Zynga by 9.1% in the first quarter. Public Employees Retirement Association of Colorado now owns 124,936 shares of the company’s stock worth $856,000 after purchasing an additional 10,394 shares during the period. Victory Capital Management Inc. raised its position in Zynga by 6.3% during the first quarter. Victory Capital Management Inc. now owns 271,300 shares of the company’s stock valued at $1,858,000 after acquiring an additional 15,983 shares in the last quarter. Rhumbline Advisers raised its position in Zynga by 29.0% during the first quarter. Rhumbline Advisers now owns 891,641 shares of the company’s stock valued at $6,108,000 after acquiring an additional 200,662 shares in the last quarter. Bank of New York Mellon Corp increased its position in shares of Zynga by 0.9% in the first quarter. Bank of New York Mellon Corp now owns 4,668,269 shares of the company’s stock valued at $31,977,000 after buying an additional 39,478 shares in the last quarter. Finally, Russell Investments Group Ltd. increased its position in shares of Zynga by 6.6% in the first quarter. Russell Investments Group Ltd. now owns 332,931 shares of the company’s stock valued at $2,279,000 after buying an additional 20,626 shares in the last quarter. 69.62% of the stock is currently owned by hedge funds and other institutional investors.
NASDAQ ZNGA traded down $0.22 during mid-day trading on Wednesday, hitting $8.30. The stock had a trading volume of 19,060,965 shares, compared to its average volume of 21,659,525. The company has a 50 day simple moving average of $9.23 and a 200 day simple moving average of $8.38. The company has a market cap of $8.93 billion, a price-to-earnings ratio of -276.67, a P/E/G ratio of 1.82 and a beta of 0.29. The company has a quick ratio of 1.84, a current ratio of 1.84 and a debt-to-equity ratio of 0.41. Zynga Inc has a 52-week low of $5.63 and a 52-week high of $10.69.
In other Zynga news, COO Matthew S. Bromberg sold 12,000 shares of Zynga stock in a transaction on Monday, August 24th. The shares were sold at an average price of $9.22, for a total value of $110,640.00. Following the sale, the chief operating officer now directly owns 913,181 shares in the company, valued at approximately $8,419,528.82. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Ellen F. Siminoff sold 5,000 shares of Zynga stock in a transaction on Wednesday, July 15th. The shares were sold at an average price of $9.46, for a total transaction of $47,300.00. Following the completion of the sale, the director now owns 138,898 shares in the company, valued at $1,313,975.08. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 117,665 shares of company stock worth $1,109,948. 9.40% of the stock is currently owned by company insiders.
ZNGA has been the topic of a number of recent research reports. Jefferies Financial Group reissued a “buy” rating and set a $11.00 price objective on shares of Zynga in a research note on Wednesday, June 10th. Berenberg Bank downgraded Zynga from a “buy” rating to a “hold” rating and set a $10.50 target price on the stock. in a research report on Tuesday, August 11th. Morgan Stanley lifted their target price on Zynga from $11.00 to $11.50 and gave the company an “overweight” rating in a research report on Thursday, August 6th. Robert W. Baird lifted their target price on Zynga from $10.00 to $12.00 in a research report on Thursday, August 6th. Finally, JPMorgan Chase & Co. lifted their target price on Zynga from $8.00 to $9.00 and gave the company a “neutral” rating in a research report on Tuesday, June 2nd. Three analysts have rated the stock with a sell rating, five have given a hold rating and twelve have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average target price of $10.71.
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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