Mark J. Pincus Sells 1,760,605 Shares of Zynga Inc (ZNGA) Stock

Zynga Inc (NASDAQ:ZNGA) Director Mark J. Pincus sold 1,760,605 shares of Zynga stock in a transaction dated Friday, April 26th. The stock was sold at an average price of $5.51, for a total value of $9,700,933.55. Following the completion of the transaction, the director now directly owns 37,620,926 shares in the company, valued at approximately $207,291,302.26. The sale was disclosed in a document filed with the SEC, which is available at this link.

Mark J. Pincus also recently made the following trade(s):

  • On Thursday, March 28th, Mark J. Pincus sold 586,800 shares of Zynga stock. The stock was sold at an average price of $5.22, for a total value of $3,063,096.00.

Shares of ZNGA opened at $5.51 on Friday. Zynga Inc has a 52-week low of $3.32 and a 52-week high of $5.65. The firm has a market capitalization of $5.10 billion, a PE ratio of 275.50, a price-to-earnings-growth ratio of 1.89 and a beta of 0.41.

Zynga (NASDAQ:ZNGA) last announced its earnings results on Wednesday, February 6th. The company reported $0.02 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.04 by ($0.02). The company had revenue of $248.69 million for the quarter, compared to analyst estimates of $245.78 million. Zynga had a return on equity of 1.14% and a net margin of 1.70%. The firm’s quarterly revenue was up 6.6% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.01 earnings per share. On average, sell-side analysts expect that Zynga Inc will post 0.13 earnings per share for the current year.

A number of institutional investors and hedge funds have recently made changes to their positions in the business. BNP Paribas Arbitrage SA lifted its holdings in Zynga by 6.5% during the 1st quarter. BNP Paribas Arbitrage SA now owns 114,155 shares of the company’s stock worth $608,000 after buying an additional 6,949 shares during the period. Los Angeles Capital Management & Equity Research Inc. bought a new stake in Zynga during the 1st quarter worth approximately $1,204,000. First Quadrant L P CA boosted its stake in shares of Zynga by 180.8% in the 1st quarter. First Quadrant L P CA now owns 23,103 shares of the company’s stock worth $123,000 after buying an additional 14,876 shares during the last quarter. Columbus Circle Investors purchased a new position in shares of Zynga in the 1st quarter worth approximately $9,023,000. Finally, Oakbrook Investments LLC lifted its stake in Zynga by 95.8% in the first quarter. Oakbrook Investments LLC now owns 30,650 shares of the company’s stock valued at $163,000 after purchasing an additional 15,000 shares during the last quarter. 78.29% of the stock is currently owned by hedge funds and other institutional investors.

Several brokerages have recently issued reports on ZNGA. Barclays set a $4.00 price objective on Zynga and gave the company a “sell” rating in a research note on Sunday, December 30th. BidaskClub raised Zynga from a “buy” rating to a “strong-buy” rating in a research report on Saturday, January 5th. Stephens started coverage on Zynga in a research report on Thursday, January 10th. They set an “equal weight” rating and a $4.75 price objective on the stock. Goldman Sachs Group assumed coverage on Zynga in a research report on Wednesday, January 30th. They set a “buy” rating and a $5.30 price objective on the stock. Finally, Piper Jaffray Companies reaffirmed an “overweight” rating and issued a $6.00 price target on shares of Zynga in a research note on Thursday, February 7th. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the stock. The stock has a consensus rating of “Buy” and an average price target of $4.98.

COPYRIGHT VIOLATION NOTICE: “Mark J. Pincus Sells 1,760,605 Shares of Zynga Inc (ZNGA) Stock” was first posted by Baseball Daily News and is owned by of Baseball Daily News. If you are viewing this article on another website, it was copied illegally and reposted in violation of United States and international copyright laws. The correct version of this article can be accessed at https://www.baseballdailydigest.com/news/2019/04/27/mark-j-pincus-sells-1760605-shares-of-zynga-inc-znga-stock.html.

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.

See Also: What is the price-to-earnings growth (PEG) ratio?

Insider Buying and Selling by Quarter for Zynga (NASDAQ:ZNGA)

Receive News & Ratings for Zynga Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Zynga and related companies with MarketBeat.com's FREE daily email newsletter.