Zynga Inc. (NASDAQ:ZNGA) Shares Sold by Thornburg Investment Management Inc.

Thornburg Investment Management Inc. trimmed its holdings in shares of Zynga Inc. (NASDAQ:ZNGA) by 15.8% in the 2nd quarter, HoldingsChannel reports. The institutional investor owned 4,031,014 shares of the company’s stock after selling 756,373 shares during the period. Thornburg Investment Management Inc.’s holdings in Zynga were worth $42,850,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in the company. JustInvest LLC raised its stake in shares of Zynga by 22.2% during the 2nd quarter. JustInvest LLC now owns 29,299 shares of the company’s stock worth $311,000 after buying an additional 5,315 shares during the period. Cresset Asset Management LLC raised its stake in shares of Zynga by 80.1% during the 2nd quarter. Cresset Asset Management LLC now owns 29,233 shares of the company’s stock worth $311,000 after buying an additional 13,003 shares during the period. Mercer Global Advisors Inc. ADV acquired a new position in shares of Zynga during the 2nd quarter worth approximately $144,000. Cambridge Investment Research Advisors Inc. increased its position in shares of Zynga by 10.5% during the second quarter. Cambridge Investment Research Advisors Inc. now owns 62,031 shares of the company’s stock worth $659,000 after purchasing an additional 5,893 shares in the last quarter. Finally, QCM Cayman Ltd. purchased a new stake in shares of Zynga during the second quarter worth approximately $110,000. 82.90% of the stock is owned by institutional investors and hedge funds.

In other Zynga news, Director Mark J. Pincus sold 1,267,924 shares of the stock in a transaction dated Tuesday, July 6th. The stock was sold at an average price of $11.13, for a total value of $14,111,994.12. Following the sale, the director now owns 233,914 shares of the company’s stock, valued at approximately $2,603,462.82. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Jeffrey Miles Ryan sold 11,319 shares of the stock in a transaction dated Thursday, July 1st. The shares were sold at an average price of $10.70, for a total value of $121,113.30. Following the completion of the sale, the insider now directly owns 20,591 shares in the company, valued at approximately $220,323.70. The disclosure for this sale can be found here. In the last three months, insiders have sold 2,960,971 shares of company stock worth $32,078,323. 8.30% of the stock is owned by corporate insiders.

ZNGA has been the subject of several research reports. Wedbush reiterated a “buy” rating and set a $15.00 price target on shares of Zynga in a research report on Friday, August 6th. BMO Capital Markets dropped their price target on Zynga from $15.00 to $11.00 and set an “outperform” rating for the company in a research report on Monday, August 9th. Morgan Stanley dropped their price target on Zynga from $14.00 to $12.75 and set an “overweight” rating for the company in a research report on Friday, August 6th. KeyCorp dropped their target price on Zynga from $13.00 to $11.00 and set an “overweight” rating for the company in a report on Friday, August 6th. Finally, Barclays dropped their target price on Zynga from $14.00 to $12.00 and set an “overweight” rating for the company in a report on Friday, August 6th. One equities research analyst has rated the stock with a sell rating and fifteen have assigned a buy rating to the company. According to data from MarketBeat.com, Zynga currently has an average rating of “Buy” and an average price target of $12.23.

ZNGA traded down $0.07 during mid-day trading on Friday, hitting $7.92. 598,445 shares of the stock were exchanged, compared to its average volume of 19,275,510. The firm’s fifty day moving average is $9.19 and its two-hundred day moving average is $10.04. Zynga Inc. has a 1-year low of $7.77 and a 1-year high of $12.32. The company has a current ratio of 1.31, a quick ratio of 1.31 and a debt-to-equity ratio of 0.44. The company has a market cap of $8.62 billion, a PE ratio of -49.94 and a beta of 0.03.

About Zynga

Zynga, Inc provides social game services. It develops, markets and operates social games as live services played on mobile platforms such as Apple’s iOS operating system and Google’s Android operating system, and social networking sites such as Facebook. It offers Chess with Friends, Crazy Cake Swap, Draw Something, FarmVille, Gems with Friends, Ice Age: Arctic Blast, Looney Tunes Dash, Speed Guess Something, What’s The Phrase, Wizard of Oz Magic Match, Yummy Gummy, Free Slots, Black Diamond Casino, Hit It Rich, Zynga Poker and Willy Wonka Slots.

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Institutional Ownership by Quarter for Zynga (NASDAQ:ZNGA)

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