New York State Common Retirement Fund Purchases 635,078 Shares of Zynga Inc. (ZNGA)

New York State Common Retirement Fund grew its position in shares of Zynga Inc. (NASDAQ:ZNGA) by 40.3% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 2,209,879 shares of the company’s stock after acquiring an additional 635,078 shares during the quarter. New York State Common Retirement Fund owned 0.26% of Zynga worth $8,044,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in the business. Artisan Partners Limited Partnership acquired a new position in Zynga during the 2nd quarter worth approximately $10,351,000. Westfield Capital Management Co. LP acquired a new stake in shares of Zynga in the 2nd quarter valued at approximately $215,000. PNC Financial Services Group Inc. boosted its holdings in shares of Zynga by 4.5% in the 2nd quarter. PNC Financial Services Group Inc. now owns 75,150 shares of the company’s stock valued at $274,000 after buying an additional 3,261 shares during the last quarter. Amalgamated Bank boosted its holdings in shares of Zynga by 31.7% in the 2nd quarter. Amalgamated Bank now owns 137,196 shares of the company’s stock valued at $499,000 after buying an additional 33,022 shares during the last quarter. Finally, Ameriprise Financial Inc. boosted its holdings in shares of Zynga by 37.6% in the 2nd quarter. Ameriprise Financial Inc. now owns 7,700,508 shares of the company’s stock valued at $28,031,000 after buying an additional 2,103,452 shares during the last quarter. 68.19% of the stock is owned by hedge funds and other institutional investors.

Shares of Zynga Inc. (NASDAQ ZNGA) opened at 3.71 on Wednesday. The firm’s 50-day moving average price is $3.75 and its 200 day moving average price is $3.47. The firm’s market cap is $3.21 billion. Zynga Inc. has a one year low of $2.40 and a one year high of $4.02.

Zynga (NASDAQ:ZNGA) last posted its quarterly earnings data on Wednesday, August 2nd. The company reported $0.01 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.02 by ($0.01). Zynga had a negative return on equity of 3.83% and a negative net margin of 10.50%. The business had revenue of $209.20 million during the quarter, compared to analysts’ expectations of $201.64 million. Zynga’s quarterly revenue was up 15.1% compared to the same quarter last year. Analysts predict that Zynga Inc. will post $0.10 EPS for the current year.

In other Zynga news, Director Ellen F. Siminoff sold 12,000 shares of the business’s stock in a transaction on Friday, September 1st. The stock was sold at an average price of $3.77, for a total value of $45,240.00. Following the transaction, the director now owns 134,478 shares of the company’s stock, valued at $506,982.06. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In the last three months, insiders sold 36,000 shares of company stock worth $134,160. Insiders own 12.43% of the company’s stock.

Several equities research analysts have recently commented on ZNGA shares. Piper Jaffray Companies set a $4.00 price objective on Zynga and gave the company a “buy” rating in a report on Thursday, August 3rd. BidaskClub raised Zynga from a “hold” rating to a “buy” rating in a report on Wednesday, August 23rd. Zacks Investment Research raised Zynga from a “hold” rating to a “buy” rating and set a $4.25 price objective for the company in a report on Thursday, August 10th. Benchmark Co. reissued a “buy” rating and issued a $4.35 price objective (up previously from $3.65) on shares of Zynga in a report on Wednesday, August 9th. Finally, Canaccord Genuity increased their price objective on Zynga from $3.00 to $3.50 and gave the company a “hold” rating in a report on Thursday, August 3rd. Six analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. Zynga has an average rating of “Buy” and an average price target of $4.06.

COPYRIGHT VIOLATION NOTICE: “New York State Common Retirement Fund Purchases 635,078 Shares of Zynga Inc. (ZNGA)” was reported by The Ledger Gazette and is owned by of The Ledger Gazette. If you are viewing this story on another publication, it was illegally copied and republished in violation of U.S. & international copyright & trademark law. The legal version of this story can be viewed at https://ledgergazette.com/2017/10/11/new-york-state-common-retirement-fund-purchases-635078-shares-of-zynga-inc-znga.html.

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A number of other large investors have also recently added to or reduced their stakes in the business. Artisan Partners Limited Partnership acquired a new position in Zynga during the 2nd quarter worth approximately $10,351,000. Westfield Capital Management Co. LP acquired a new stake in shares of Zynga in the 2nd quarter valued at approximately $215,000. PNC Financial Services Group Inc. boosted its holdings in shares of Zynga by 4.5% in the 2nd quarter. PNC Financial Services Group Inc. now owns 75,150 shares of the company’s stock valued at $274,000 after buying an additional 3,261 shares during the last quarter. Amalgamated Bank boosted its holdings in shares of Zynga by 31.7% in the 2nd quarter. Amalgamated Bank now owns 137,196 shares of the company’s stock valued at $499,000 after buying an additional 33,022 shares during the last quarter. Finally, Ameriprise Financial Inc. boosted its holdings in shares of Zynga by 37.6% in the 2nd quarter. Ameriprise Financial Inc. now owns 7,700,508 shares of the company’s stock valued at $28,031,000 after buying an additional 2,103,452 shares during the last quarter. 68.19% of the stock is owned by hedge funds and other institutional investors.

Shares of Zynga Inc. (NASDAQ ZNGA) opened at 3.71 on Wednesday. The firm’s 50-day moving average price is $3.75 and its 200 day moving average price is $3.47. The firm’s market cap is $3.21 billion. Zynga Inc. has a one year low of $2.40 and a one year high of $4.02.

Zynga (NASDAQ:ZNGA) last posted its quarterly earnings data on Wednesday, August 2nd. The company reported $0.01 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.02 by ($0.01). Zynga had a negative return on equity of 3.83% and a negative net margin of 10.50%. The business had revenue of $209.20 million during the quarter, compared to analysts’ expectations of $201.64 million. Zynga’s quarterly revenue was up 15.1% compared to the same quarter last year. Analysts predict that Zynga Inc. will post $0.10 EPS for the current year.

In other Zynga news, Director Ellen F. Siminoff sold 12,000 shares of the business’s stock in a transaction on Friday, September 1st. The stock was sold at an average price of $3.77, for a total value of $45,240.00. Following the transaction, the director now owns 134,478 shares of the company’s stock, valued at $506,982.06. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In the last three months, insiders sold 36,000 shares of company stock worth $134,160. Insiders own 12.43% of the company’s stock.

Several equities research analysts have recently commented on ZNGA shares. Piper Jaffray Companies set a $4.00 price objective on Zynga and gave the company a “buy” rating in a report on Thursday, August 3rd. BidaskClub raised Zynga from a “hold” rating to a “buy” rating in a report on Wednesday, August 23rd. Zacks Investment Research raised Zynga from a “hold” rating to a “buy” rating and set a $4.25 price objective for the company in a report on Thursday, August 10th. Benchmark Co. reissued a “buy” rating and issued a $4.35 price objective (up previously from $3.65) on shares of Zynga in a report on Wednesday, August 9th. Finally, Canaccord Genuity increased their price objective on Zynga from $3.00 to $3.50 and gave the company a “hold” rating in a report on Thursday, August 3rd. Six analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. Zynga has an average rating of “Buy” and an average price target of $4.06.

COPYRIGHT VIOLATION NOTICE: “New York State Common Retirement Fund Purchases 635,078 Shares of Zynga Inc. (ZNGA)” was reported by The Ledger Gazette and is owned by of The Ledger Gazette. If you are viewing this story on another publication, it was illegally copied and republished in violation of U.S. & international copyright & trademark law. The legal version of this story can be viewed at https://ledgergazette.com/2017/10/11/new-york-state-common-retirement-fund-purchases-635078-shares-of-zynga-inc-znga.html.

Zynga Profile

Zynga Inc is a provider of social game services. The Company develops, markets and operates social games as live services played on mobile platforms, such as iPhone Operating System (iOS) operating system and Android operating system and social networking sites, such as Facebook. The Company has developed a range of social games, including games in its Slots, Words With Friends, Zynga Poker and FarmVille franchises.

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Institutional Ownership by Quarter for Zynga (NASDAQ:ZNGA)

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