Cherry Creek Investment Advisors Inc. bought a new stake in Zynga Inc. (NASDAQ:ZNGA) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 10,038 shares of the company’s stock, valued at approximately $107,000.
A number of other large investors have also recently modified their holdings of ZNGA. Chiron Investment Management LLC bought a new position in Zynga in the 2nd quarter valued at about $1,507,000. Neuberger Berman Group LLC raised its holdings in Zynga by 17.8% in the 2nd quarter. Neuberger Berman Group LLC now owns 20,253,170 shares of the company’s stock valued at $215,251,000 after acquiring an additional 3,065,806 shares during the period. Clearbridge Investments LLC increased its holdings in shares of Zynga by 1.2% during the second quarter. Clearbridge Investments LLC now owns 3,153,285 shares of the company’s stock worth $33,519,000 after purchasing an additional 38,010 shares during the period. CAPROCK Group Inc. increased its holdings in shares of Zynga by 13.7% during the second quarter. CAPROCK Group Inc. now owns 12,871 shares of the company’s stock worth $137,000 after purchasing an additional 1,547 shares during the period. Finally, Philadelphia Trust Co. increased its holdings in shares of Zynga by 515.9% during the second quarter. Philadelphia Trust Co. now owns 292,550 shares of the company’s stock worth $3,110,000 after purchasing an additional 245,050 shares during the period. Institutional investors and hedge funds own 82.90% of the company’s stock.
Shares of NASDAQ:ZNGA traded up $0.14 during midday trading on Thursday, hitting $7.57. 65,032 shares of the company’s stock were exchanged, compared to its average volume of 19,223,803. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.31 and a quick ratio of 1.31. The stock has a 50 day moving average price of $8.13 and a 200-day moving average price of $9.67. The company has a market cap of $8.24 billion, a PE ratio of -47.19 and a beta of 0.03. Zynga Inc. has a 12 month low of $7.14 and a 12 month high of $12.32.
Several research analysts have recently commented on the stock. Wedbush reaffirmed a “buy” rating and set a $15.00 target price on shares of Zynga in a report on Friday, August 6th. UBS Group lowered their target price on shares of Zynga from $14.50 to $13.50 and set a “buy” rating on the stock in a report on Friday, August 6th. KeyCorp decreased their price objective on shares of Zynga from $11.00 to $10.00 and set an “overweight” rating on the stock in a research note on Friday, October 8th. Zacks Investment Research raised shares of Zynga from a “hold” rating to a “buy” rating and set a $12.00 price objective on the stock in a research note on Friday, July 9th. Finally, BMO Capital Markets cut their target price on shares of Zynga from $15.00 to $11.00 and set an “outperform” rating on the stock in a research report on Monday, August 9th. One investment analyst has rated the stock with a sell rating and fourteen have assigned a buy rating to the stock. Based on data from MarketBeat, Zynga currently has an average rating of “Buy” and a consensus target price of $12.18.
In related news, insider Jeffrey Miles Ryan sold 17,170 shares of the business’s stock in a transaction dated Friday, September 17th. The shares were sold at an average price of $7.89, for a total transaction of $135,471.30. Following the transaction, the insider now directly owns 67,433 shares in the company, valued at $532,046.37. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO James Gerard Griffin sold 52,637 shares of the business’s stock in a transaction dated Monday, July 19th. The stock was sold at an average price of $10.36, for a total transaction of $545,319.32. Following the transaction, the chief financial officer now owns 635,176 shares in the company, valued at $6,580,423.36. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 472,369 shares of company stock worth $4,745,413. 8.30% of the stock is owned by corporate insiders.
Zynga Company Profile
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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