California Public Employees Retirement System boosted its position in shares of Zynga Inc (NASDAQ:ZNGA) by 2.0% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,932,268 shares of the company’s stock after buying an additional 37,768 shares during the period. California Public Employees Retirement System owned approximately 0.22% of Zynga worth $7,304,000 as of its most recent SEC filing.
A number of other institutional investors have also recently made changes to their positions in ZNGA. PNC Financial Services Group Inc. increased its holdings in Zynga by 4.5% during the 2nd quarter. PNC Financial Services Group Inc. now owns 75,150 shares of the company’s stock worth $274,000 after purchasing an additional 3,261 shares during the period. Prudential Financial Inc. increased its holdings in shares of Zynga by 9.1% in the 2nd quarter. Prudential Financial Inc. now owns 44,500 shares of the company’s stock valued at $162,000 after acquiring an additional 3,700 shares during the period. Suntrust Banks Inc. increased its holdings in shares of Zynga by 3.6% in the 2nd quarter. Suntrust Banks Inc. now owns 134,728 shares of the company’s stock valued at $490,000 after acquiring an additional 4,660 shares during the period. The Manufacturers Life Insurance Company increased its holdings in shares of Zynga by 23.2% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 30,835 shares of the company’s stock valued at $112,000 after acquiring an additional 5,815 shares during the period. Finally, Utah Retirement Systems increased its holdings in shares of Zynga by 4.7% in the 2nd quarter. Utah Retirement Systems now owns 138,488 shares of the company’s stock valued at $505,000 after acquiring an additional 6,200 shares during the period. 70.45% of the stock is owned by institutional investors.
Zynga Inc (ZNGA) traded down $0.03 during trading hours on Wednesday, reaching $3.88. The company’s stock had a trading volume of 5,428,000 shares, compared to its average volume of 11,759,184. Zynga Inc has a one year low of $2.40 and a one year high of $4.34. The firm has a market capitalization of $3,370.00, a PE ratio of -129.33, a price-to-earnings-growth ratio of 2.86 and a beta of 0.76.
Zynga (NASDAQ:ZNGA) last released its quarterly earnings results on Tuesday, November 7th. The company reported $0.02 EPS for the quarter, topping analysts’ consensus estimates of $0.01 by $0.01. Zynga had a negative return on equity of 1.37% and a negative net margin of 2.65%. The company had revenue of $224.60 million for the quarter, compared to analysts’ expectations of $211.98 million. During the same period in the prior year, the firm earned ($0.05) earnings per share. The firm’s revenue was up 23.1% compared to the same quarter last year. equities research analysts predict that Zynga Inc will post 0.02 EPS for the current year.
In related news, Director Ellen F. Siminoff sold 12,000 shares of the stock in a transaction on Thursday, December 28th. The stock was sold at an average price of $3.97, for a total value of $47,640.00. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, COO Matthew S. Bromberg sold 50,000 shares of the stock in a transaction on Wednesday, December 27th. The shares were sold at an average price of $3.95, for a total value of $197,500.00. Following the completion of the transaction, the chief operating officer now directly owns 294,206 shares in the company, valued at approximately $1,162,113.70. The disclosure for this sale can be found here. Insiders have sold 236,000 shares of company stock worth $930,600 in the last ninety days. Corporate insiders own 12.43% of the company’s stock.
A number of analysts have recently weighed in on ZNGA shares. Cowen reaffirmed a “buy” rating and set a $4.50 price target on shares of Zynga in a research report on Thursday, October 12th. Wedbush set a $5.00 price target on Zynga and gave the stock a “buy” rating in a research report on Wednesday, October 18th. Zacks Investment Research upgraded Zynga from a “hold” rating to a “strong-buy” rating and set a $4.50 price objective for the company in a research note on Saturday, November 11th. BidaskClub lowered Zynga from a “buy” rating to a “hold” rating in a research note on Wednesday, December 6th. Finally, KeyCorp reiterated a “hold” rating on shares of Zynga in a research note on Tuesday, October 17th. Seven investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus price target of $4.14.
Zynga Inc is a provider of social game services. The Company develops, markets and operates social games as live services played on mobile platforms, such as iPhone Operating System (iOS) operating system and Android operating system and social networking sites, such as Facebook. The Company has developed a range of social games, including games in its Slots, Words With Friends, Zynga Poker and FarmVille franchises.