Van ECK Associates Corp Has $54.06 Million Stake in Zynga Inc. (NASDAQ:ZNGA)

Van ECK Associates Corp trimmed its position in shares of Zynga Inc. (NASDAQ:ZNGA) by 27.7% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 5,085,554 shares of the company’s stock after selling 1,951,434 shares during the quarter. Van ECK Associates Corp owned approximately 0.47% of Zynga worth $54,059,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently bought and sold shares of the stock. Artisan Partners Limited Partnership lifted its holdings in Zynga by 2.9% in the 1st quarter. Artisan Partners Limited Partnership now owns 82,655,497 shares of the company’s stock worth $843,913,000 after purchasing an additional 2,320,961 shares during the last quarter. Price T Rowe Associates Inc. MD increased its position in Zynga by 0.7% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 73,070,818 shares of the company’s stock worth $746,053,000 after buying an additional 512,740 shares during the period. Brown Advisory Inc. increased its position in Zynga by 6.1% in the 1st quarter. Brown Advisory Inc. now owns 22,474,449 shares of the company’s stock worth $229,464,000 after buying an additional 1,290,886 shares during the period. Diamond Hill Capital Management Inc. increased its position in Zynga by 27.6% in the 2nd quarter. Diamond Hill Capital Management Inc. now owns 20,302,504 shares of the company’s stock worth $215,816,000 after buying an additional 4,395,300 shares during the period. Finally, William Blair Investment Management LLC increased its position in Zynga by 0.4% in the 1st quarter. William Blair Investment Management LLC now owns 19,665,341 shares of the company’s stock worth $200,783,000 after buying an additional 75,279 shares during the period. Hedge funds and other institutional investors own 82.90% of the company’s stock.

In other news, insider Jeffrey Miles Ryan sold 17,064 shares of the company’s stock in a transaction on Thursday, June 17th. The stock was sold at an average price of $10.22, for a total transaction of $174,394.08. Following the transaction, the insider now owns 1,071,393 shares of the company’s stock, valued at $10,949,636.46. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Mark J. Pincus sold 1,267,924 shares of the company’s stock in a transaction on Tuesday, July 6th. The shares were sold at an average price of $11.13, for a total value of $14,111,994.12. Following the transaction, the director now directly owns 233,914 shares in the company, valued at approximately $2,603,462.82. The disclosure for this sale can be found here. In the last three months, insiders sold 2,993,883 shares of company stock worth $32,415,001. Insiders own 8.30% of the company’s stock.

ZNGA has been the topic of several recent analyst reports. BMO Capital Markets dropped their price target on Zynga from $15.00 to $11.00 and set an “outperform” rating on the stock in a research report on Monday, August 9th. Zacks Investment Research upgraded Zynga from a “hold” rating to a “buy” rating and set a $12.00 price objective on the stock in a research report on Friday, July 9th. UBS Group lowered their price objective on Zynga from $14.50 to $13.50 and set a “buy” rating on the stock in a research report on Friday, August 6th. Morgan Stanley lowered their price objective on Zynga from $14.00 to $12.75 and set an “overweight” rating on the stock in a research report on Friday, August 6th. Finally, Benchmark lowered their price objective on Zynga from $12.00 to $10.00 and set a “buy” rating on the stock in a research report on Friday, August 6th. One analyst has rated the stock with a sell rating and fifteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Zynga has a consensus rating of “Buy” and an average price target of $12.23.

Zynga stock opened at $8.19 on Wednesday. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.31 and a current ratio of 1.31. The firm has a market cap of $8.92 billion, a P/E ratio of -51.19 and a beta of 0.03. The business’s fifty day moving average is $9.30 and its two-hundred day moving average is $10.07. Zynga Inc. has a 52 week low of $7.77 and a 52 week high of $12.32.

About Zynga

Zynga, Inc provides social game services. It develops, markets and operates social games as live services played on mobile platforms such as Apple’s iOS operating system and Google’s Android operating system, and social networking sites such as Facebook. It offers Chess with Friends, Crazy Cake Swap, Draw Something, FarmVille, Gems with Friends, Ice Age: Arctic Blast, Looney Tunes Dash, Speed Guess Something, What’s The Phrase, Wizard of Oz Magic Match, Yummy Gummy, Free Slots, Black Diamond Casino, Hit It Rich, Zynga Poker and Willy Wonka Slots.

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Institutional Ownership by Quarter for Zynga (NASDAQ:ZNGA)

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