Zynga Inc (ZNGA) Sees Large Increase in Short Interest

Zynga Inc (NASDAQ:ZNGA) was the target of a large growth in short interest during the month of September. As of September 28th, there was short interest totalling 47,367,214 shares, a growth of 7.9% from the September 14th total of 43,888,305 shares. Currently, 6.2% of the shares of the company are short sold. Based on an average daily volume of 7,763,291 shares, the short-interest ratio is currently 6.1 days.

In other news, Director Ellen F. Siminoff sold 12,000 shares of the business’s stock in a transaction dated Monday, September 24th. The stock was sold at an average price of $3.90, for a total value of $46,800.00. Following the completion of the sale, the director now directly owns 201,277 shares of the company’s stock, valued at approximately $784,980.30. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Matthew S. Bromberg sold 20,000 shares of the business’s stock in a transaction dated Wednesday, July 18th. The shares were sold at an average price of $4.26, for a total value of $85,200.00. Following the completion of the sale, the chief operating officer now directly owns 389,945 shares of the company’s stock, valued at $1,661,165.70. The disclosure for this sale can be found here. Insiders sold a total of 97,500 shares of company stock valued at $393,365 over the last three months. Company insiders own 11.87% of the company’s stock.

Several hedge funds have recently modified their holdings of the company. BlackRock Inc. raised its stake in shares of Zynga by 36.6% during the 2nd quarter. BlackRock Inc. now owns 60,593,714 shares of the company’s stock worth $246,618,000 after buying an additional 16,221,442 shares in the last quarter. Artisan Partners Limited Partnership raised its stake in shares of Zynga by 4.4% during the 2nd quarter. Artisan Partners Limited Partnership now owns 39,695,436 shares of the company’s stock worth $161,560,000 after buying an additional 1,689,711 shares in the last quarter. Cadian Capital Management LP raised its stake in shares of Zynga by 38.1% during the 2nd quarter. Cadian Capital Management LP now owns 21,150,000 shares of the company’s stock worth $86,081,000 after buying an additional 5,835,562 shares in the last quarter. First Trust Advisors LP raised its stake in shares of Zynga by 17.3% during the 2nd quarter. First Trust Advisors LP now owns 16,697,603 shares of the company’s stock worth $67,959,000 after buying an additional 2,464,392 shares in the last quarter. Finally, Point72 Asset Management L.P. raised its stake in shares of Zynga by 276.2% during the 1st quarter. Point72 Asset Management L.P. now owns 15,963,897 shares of the company’s stock worth $58,428,000 after buying an additional 11,720,451 shares in the last quarter. 74.61% of the stock is owned by institutional investors and hedge funds.

Several analysts have recently weighed in on ZNGA shares. BidaskClub downgraded Zynga from a “buy” rating to a “hold” rating in a report on Wednesday, June 20th. Morgan Stanley upped their price objective on Zynga from $4.50 to $4.70 and gave the company an “overweight” rating in a research note on Wednesday, July 11th. Wedbush set a $6.00 price objective on Zynga and gave the company a “buy” rating in a research note on Thursday, July 26th. ValuEngine downgraded Zynga from a “buy” rating to a “hold” rating in a research note on Thursday, August 2nd. Finally, Credit Suisse Group upped their price objective on Zynga from $4.00 to $4.90 and gave the company an “underperform” rating in a research note on Thursday, August 2nd. Three investment analysts have rated the stock with a sell rating, two have given a hold rating and eight have issued a buy rating to the stock. Zynga currently has a consensus rating of “Hold” and a consensus target price of $4.89.

ZNGA opened at $4.20 on Friday. The company has a market cap of $3.45 billion, a price-to-earnings ratio of 140.00, a P/E/G ratio of 2.55 and a beta of 0.27. Zynga has a 52 week low of $3.20 and a 52 week high of $4.57.

Zynga (NASDAQ:ZNGA) last posted its quarterly earnings data on Wednesday, August 1st. The company reported $0.00 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.03 by ($0.03). The company had revenue of $217.05 million for the quarter, compared to analysts’ expectations of $212.62 million. Zynga had a net margin of 4.04% and a return on equity of 2.37%. The firm’s revenue was up 3.7% on a year-over-year basis. During the same period in the prior year, the company earned $0.01 earnings per share. As a group, equities research analysts predict that Zynga will post 0.07 earnings per share for the current year.

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 iOS and Android operating systems, as well as on social networking sites, including Facebook. It also provides advertising services comprising mobile and display ads, engagement ads and offers, and branded virtual goods and sponsorships to advertising agencies and brokers; and software licensing and maintenance services related to NaturalMotion technology, as well as licenses its own brands.

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