KeyCorp Reaffirms “Hold” Rating for Zynga Inc. (NASDAQ:ZNGA)

KeyCorp restated their hold rating on shares of Zynga Inc. (NASDAQ:ZNGA) in a research report report published on Tuesday, October 17th.

Other equities research analysts have also issued research reports about the company. 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. Cowen and Company lifted their price objective on Zynga from $4.25 to $4.50 and gave the stock an outperform rating in a report on Friday, June 23rd. Wedbush reissued an outperform rating and issued a $4.65 price objective (up previously from $4.25) on shares of Zynga in a report on Wednesday, August 9th. BidaskClub raised Zynga from a hold rating to a buy rating in a report on Wednesday, August 23rd. Finally, Robert W. Baird reaffirmed a hold rating and set a $4.00 target price on shares of Zynga in a report on Friday, September 15th. Six analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. Zynga currently has an average rating of Buy and a consensus target price of $4.09.

Zynga (NASDAQ ZNGA) traded down $0.06 during midday trading on Tuesday, hitting $3.86. The stock had a trading volume of 7,185,448 shares, compared to its average volume of 8,073,372. Zynga has a 12 month low of $2.40 and a 12 month high of $4.02.

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In other Zynga news, Director Ellen F. Siminoff sold 12,000 shares of the business’s stock in a transaction that occurred on Monday, October 2nd. The stock was sold at an average price of $3.79, for a total value of $45,480.00. Following the completion of the sale, the director now owns 122,478 shares in the company, valued at $464,191.62. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders sold 36,000 shares of company stock valued at $137,040 in the last quarter. Corporate insiders own 12.43% of the company’s stock.

Several institutional investors and hedge funds have recently bought and sold shares of the company. New York State Common Retirement Fund increased its stake in shares of Zynga by 26.1% during the third quarter. New York State Common Retirement Fund now owns 2,787,283 shares of the company’s stock valued at $10,536,000 after buying an additional 577,404 shares during the period. Sei Investments Co. increased its stake in shares of Zynga by 7.6% during the third quarter. Sei Investments Co. now owns 310,209 shares of the company’s stock valued at $1,173,000 after buying an additional 22,000 shares during the period. Global X MANAGEMENT CO LLC increased its stake in shares of Zynga by 16.1% during the third quarter. Global X MANAGEMENT CO LLC now owns 1,028,626 shares of the company’s stock valued at $3,888,000 after buying an additional 142,374 shares during the period. American Century Companies Inc. increased its stake in shares of Zynga by 1.5% during the third quarter. American Century Companies Inc. now owns 9,266,153 shares of the company’s stock valued at $35,026,000 after buying an additional 140,368 shares during the period. Finally, Westpac Banking Corp increased its stake in shares of Zynga by 93.4% during the third quarter. Westpac Banking Corp now owns 490,200 shares of the company’s stock valued at $1,853,000 after buying an additional 236,800 shares during the period. 69.31% of the stock is currently owned by hedge funds and other institutional investors.

About Zynga

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.

Analyst Recommendations for Zynga (NASDAQ:ZNGA)

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