Bank of New York Mellon Corp Decreases Holdings in Zynga Inc (ZNGA)

Bank of New York Mellon Corp cut its position in shares of Zynga Inc (NASDAQ:ZNGA) by 3.8% during the 4th quarter, HoldingsChannel.com reports. The firm owned 2,625,183 shares of the company’s stock after selling 103,384 shares during the period. Bank of New York Mellon Corp’s holdings in Zynga were worth $10,316,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Vanguard Group Inc. lifted its holdings in shares of Zynga by 1.7% in the third quarter. Vanguard Group Inc. now owns 65,906,089 shares of the company’s stock valued at $264,283,000 after buying an additional 1,082,874 shares during the period. First Hawaiian Bank raised its position in Zynga by 18.5% in the fourth quarter. First Hawaiian Bank now owns 18,240 shares of the company’s stock worth $72,000 after acquiring an additional 2,845 shares in the last quarter. CIBC Private Wealth Group LLC lifted its holdings in Zynga by 19.0% in the 4th quarter. CIBC Private Wealth Group LLC now owns 156,129 shares of the company’s stock valued at $614,000 after acquiring an additional 24,910 shares during the last quarter. Assenagon Asset Management S.A. acquired a new stake in Zynga in the 4th quarter valued at about $9,389,000. Finally, Vanguard Group Inc boosted its position in shares of Zynga by 1.7% during the 3rd quarter. Vanguard Group Inc now owns 65,906,089 shares of the company’s stock valued at $264,283,000 after purchasing an additional 1,082,874 shares in the last quarter. 78.29% of the stock is currently owned by institutional investors.

Shares of ZNGA opened at $5.35 on Friday. The stock has a market capitalization of $4.94 billion, a P/E ratio of 267.50, a P/E/G ratio of 1.76 and a beta of 0.41. Zynga Inc has a 1-year low of $3.32 and a 1-year high of $5.55.

Zynga (NASDAQ:ZNGA) last posted its quarterly earnings data on Wednesday, February 6th. The company reported $0.02 EPS for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.02). Zynga had a net margin of 1.70% and a return on equity of 1.14%. The firm had revenue of $248.69 million for the quarter, compared to analysts’ expectations of $245.78 million. During the same period in the prior year, the company posted $0.01 earnings per share. Zynga’s quarterly revenue was up 6.6% compared to the same quarter last year. As a group, analysts expect that Zynga Inc will post 0.14 earnings per share for the current fiscal year.

In related news, Director Mark J. Pincus sold 586,800 shares of the firm’s stock in a transaction that occurred on Thursday, March 28th. The shares were sold at an average price of $5.22, for a total value of $3,063,096.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, COO Matthew S. Bromberg sold 41,500 shares of Zynga stock in a transaction that occurred on Tuesday, January 15th. The stock was sold at an average price of $4.29, for a total transaction of $178,035.00. Following the transaction, the chief operating officer now owns 512,318 shares in the company, valued at $2,197,844.22. The disclosure for this sale can be found here. Insiders have sold 875,292 shares of company stock worth $4,417,833 in the last 90 days. 11.87% of the stock is owned by company insiders.

Several equities analysts have recently issued reports on the stock. BidaskClub cut shares of Zynga from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, March 20th. Piper Jaffray Companies reissued an “overweight” rating and set a $6.00 target price on shares of Zynga in a research note on Thursday, February 7th. Wedbush reduced their target price on shares of Zynga from $6.00 to $5.00 and set a “buy” rating for the company in a report on Friday, December 21st. Stephens initiated coverage on shares of Zynga in a research report on Thursday, January 10th. They issued an “equal weight” rating and a $4.75 price target on the stock. Finally, Macquarie upgraded shares of Zynga from a “neutral” rating to an “outperform” rating in a research report on Tuesday, December 11th. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating, nine have given a buy rating and one has given a strong buy rating to the company’s stock. Zynga presently has an average rating of “Buy” and a consensus target price of $4.98.

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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 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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Institutional Ownership by Quarter for Zynga (NASDAQ:ZNGA)

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