Zynga Inc (NASDAQ:ZNGA) COO Sells $117,840.00 in Stock

Zynga Inc (NASDAQ:ZNGA) COO Matthew S. Bromberg sold 12,000 shares of the company’s stock in a transaction on Wednesday, July 22nd. The stock was sold at an average price of $9.82, for a total transaction of $117,840.00. Following the transaction, the chief operating officer now directly owns 860,704 shares in the company, valued at $8,452,113.28. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website.

Shares of ZNGA stock opened at $9.55 on Monday. The firm has a market cap of $9.13 billion, a P/E ratio of 136.43, a PEG ratio of 4.11 and a beta of 0.34. Zynga Inc has a 1-year low of $5.51 and a 1-year high of $10.55. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.89 and a quick ratio of 1.89. The firm’s 50-day simple moving average is $9.52 and its 200-day simple moving average is $7.68.

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). The company had revenue of $424.88 million for the quarter, compared to analysts’ expectations of $405.51 million. Zynga had a negative return on equity of 3.55% and a net margin of 4.58%. Analysts expect that Zynga Inc will post 0.19 earnings per share for the current fiscal year.

A number of research firms have recently weighed in on ZNGA. UBS Group upped their price target on shares of Zynga from $8.30 to $12.50 and gave the stock a “buy” rating in a research note on Thursday, July 16th. They noted that the move was a valuation call. ValuEngine lowered shares of Zynga from a “buy” rating to a “hold” rating in a research report on Friday, May 1st. Morgan Stanley boosted their price objective on shares of Zynga from $8.25 to $11.00 and gave the stock an “overweight” rating in a research report on Tuesday, June 2nd. Credit Suisse Group boosted their price objective on shares of Zynga from $6.00 to $7.00 and gave the stock an “underperform” rating in a research report on Tuesday, June 2nd. Finally, Berenberg Bank started coverage on shares of Zynga in a research report on Thursday, April 16th. They issued a “buy” rating and a $8.50 price objective on the stock. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and thirteen have issued a buy rating to the stock. Zynga has an average rating of “Buy” and a consensus target price of $9.83.

Hedge funds have recently made changes to their positions in the company. Joseph P. Lucia & Associates LLC purchased a new position in shares of Zynga during the 2nd quarter worth about $26,000. Private Capital Group LLC lifted its holdings 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 acquiring an additional 1,600 shares during the period. GQ Asset Management LLC purchased a new position in shares of Zynga during the 1st quarter worth about $47,000. Creative Financial Designs Inc. ADV purchased a new position in shares of Zynga during the 2nd quarter worth about $67,000. Finally, Simon Quick Advisors LLC acquired a new stake in Zynga during the 1st quarter worth approximately $55,000. Institutional investors and hedge funds own 77.56% of the company’s stock.

About Zynga

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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