State Board of Administration of Florida Retirement System raised its holdings in Zynga Inc (NASDAQ:ZNGA) by 0.3% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,027,174 shares of the company’s stock after acquiring an additional 3,010 shares during the quarter. State Board of Administration of Florida Retirement System’s holdings in Zynga were worth $5,475,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds and other institutional investors have also modified their holdings of ZNGA. FMR LLC lifted its stake in Zynga by 6,486,449.1% during the fourth quarter. FMR LLC now owns 15,048,794 shares of the company’s stock valued at $59,142,000 after buying an additional 15,048,562 shares in the last quarter. Norges Bank acquired a new position in shares of Zynga in the 4th quarter valued at about $41,398,000. Brown Advisory Inc. increased its holdings in shares of Zynga by 1,304.6% in the 4th quarter. Brown Advisory Inc. now owns 6,963,422 shares of the company’s stock valued at $27,367,000 after purchasing an additional 6,467,661 shares during the period. Highbridge Capital Management LLC acquired a new position in shares of Zynga in the 4th quarter valued at about $19,741,000. Finally, Teachers Advisors LLC increased its holdings in shares of Zynga by 41.4% in the 3rd quarter. Teachers Advisors LLC now owns 10,244,190 shares of the company’s stock valued at $41,079,000 after purchasing an additional 2,997,355 shares during the period. 74.43% of the stock is owned by institutional investors.
A number of equities analysts recently commented on the company. BidaskClub upgraded Zynga from a “buy” rating to a “strong-buy” rating in a report on Thursday, May 9th. Wedbush increased their price objective on Zynga from $6.40 to $7.50 and gave the stock an “outperform” rating in a report on Thursday, May 2nd. Barclays upgraded Zynga to a “hold” rating and set a $6.00 price objective on the stock in a report on Thursday, May 2nd. Bank of America increased their price objective on Zynga from $5.50 to $6.50 and gave the stock a “neutral” rating in a report on Thursday, May 2nd. Finally, Jefferies Financial Group increased their price objective on Zynga from $5.75 to $7.00 and gave the stock a “buy” rating in a report on Thursday, May 2nd. One analyst has rated the stock with a sell rating, four have given a hold rating, ten have issued a buy rating and two have issued a strong buy rating to the company’s stock. Zynga has a consensus rating of “Buy” and an average target price of $6.35.
Shares of ZNGA stock opened at $6.21 on Thursday. The firm has a market capitalization of $5.77 billion, a P/E ratio of 310.50, a PEG ratio of 2.01 and a beta of 0.43. Zynga Inc has a one year low of $3.32 and a one year high of $6.31. The company has a debt-to-equity ratio of 0.01, a current ratio of 0.71 and a quick ratio of 0.71.
Zynga (NASDAQ:ZNGA) last issued its earnings results on Wednesday, May 1st. The company reported ($0.14) EPS for the quarter, missing the consensus estimate of $0.03 by ($0.17). The firm had revenue of $265.00 million during the quarter, compared to the consensus estimate of $255.45 million. Zynga had a negative return on equity of 7.09% and a negative net margin of 12.34%. The firm’s revenue for the quarter was up 27.4% compared to the same quarter last year. During the same period last year, the business earned $0.01 earnings per share. As a group, sell-side analysts predict that Zynga Inc will post 0.14 earnings per share for the current fiscal year.
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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.
Further Reading: Understanding debt-to-equity ratio in fundamental analysis
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