Zynga Inc (NASDAQ:ZNGA) COO Matthew S. Bromberg sold 12,000 shares of the business’s stock in a transaction on Monday, June 22nd. The shares were sold at an average price of $9.42, for a total transaction of $113,040.00. Following the completion of the transaction, the chief operating officer now directly owns 857,619 shares of the company’s stock, valued at approximately $8,078,770.98. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.
Shares of NASDAQ:ZNGA opened at $9.61 on Friday. The company’s 50-day moving average price is $8.67 and its two-hundred day moving average price is $7.16. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.89 and a quick ratio of 1.89. Zynga Inc has a one year low of $5.51 and a one year high of $9.92. The stock has a market capitalization of $9.15 billion, a PE ratio of 137.29, a price-to-earnings-growth ratio of 4.12 and a beta of 0.35.
Zynga (NASDAQ:ZNGA) last announced its quarterly earnings data on Wednesday, May 6th. The company reported ($0.01) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.02 by ($0.03). Zynga had a net margin of 4.58% and a negative return on equity of 3.55%. The company had revenue of $424.88 million during the quarter, compared to the consensus estimate of $405.51 million. On average, analysts anticipate that Zynga Inc will post 0.19 earnings per share for the current fiscal year.
Several research firms have weighed in on ZNGA. Benchmark lifted their target price on Zynga from $9.00 to $11.00 and gave the stock a “buy” rating in a report on Tuesday, June 2nd. Wedbush reaffirmed an “outperform” rating and set a $11.50 price target (up previously from $9.25) on shares of Zynga in a research report on Monday, June 1st. Bank of America lowered Zynga from a “neutral” rating to an “underperform” rating and boosted their price objective for the company from $6.70 to $7.50 in a research report on Wednesday, April 22nd. Cowen raised their target price on shares of Zynga from $9.50 to $10.50 and gave the stock an “outperform” rating in a report on Tuesday, June 2nd. Finally, Berenberg Bank assumed coverage on shares of Zynga in a research report on Thursday, April 16th. They set a “buy” rating and a $8.50 price objective for the company. Two analysts have rated the stock with a sell rating, four have given a hold rating and thirteen have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus target price of $9.68.
Hedge funds have recently bought and sold shares of the business. Private Capital Group LLC increased its position in shares of Zynga by 58.6% during the 1st quarter. Private Capital Group LLC now owns 4,331 shares of the company’s stock worth $30,000 after purchasing an additional 1,600 shares during the last quarter. GQ Asset Management LLC acquired a new stake in shares of Zynga in the 1st quarter valued at approximately $47,000. Simon Quick Advisors LLC bought a new position in shares of Zynga in the first quarter valued at $55,000. Sunbelt Securities Inc. acquired a new position in Zynga during the fourth quarter worth $12,698,000. Finally, Asset Management One Co. Ltd. bought a new stake in Zynga during the first quarter worth $62,000. Hedge funds and other institutional investors own 78.03% 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 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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