Zynga Inc (NASDAQ:ZNGA) director William Gordon unloaded 500,000 shares of his company’s stock in transactions dated Aug. 18 and 19, according to regulatory filings with the Securities and Exchange Commission.

Zynga Inc ZNGA

Zynga insiders sell shares

He got an average price of around $3 per share, raking in more than $1.5 million in the sale. That left him without any shares of Zynga stock under his direct ownership, although he still held more than 15.2 million shares in indirect ownership.

General Counsel Shah Devang also unloaded some shares of the game maker within the last week, also bringing in around $3 a share. Devang sold around 8,000 shares of Zynga in a series of transactions dated Aug. 15 and Aug. 18. After the sales of those shares, the Zynga officer had 137,608 shares left under direct ownership.

Zynga shares bounce around

Zynga’s one0year high is $5.89 per share, while its one-year low is $2.70 per share. The game maker’s 50-day moving average is $3 per share, while its 200-day moving average is $3.86 per share. Zynga’s average daily volume is 22.64 million shares.

The game maker is expected to release its next earnings report on or around Oct. 24. In its second quarter, Zynga posted flat earnings per share and $153.2 million in revenue, greatly missing the analyst estimate of $191.2 million in revenue.

Earlier this month, analysts at Goldman Sachs slashed their price target from $4 to $3 per share, although they maintained their Neutral rating on the game maker’s stock. The analysts cited the most recent report’s bookings miss of $175 million, compared to their estimate of $186 million. They noted that Zynga’s user growth was lower than expected, although higher than expected average bookings per daily average user partially offset that.

Zynga also missed on adjusted EBITDA, coming in at $14.5 million, compared to the consensus estimate of $18.3 million. However, the Goldman Sachs team doesn’t think all is lost for the game maker just yet. The firm’s analysts said Zynga may be seeing traction through its restructuring plan, as seen through its sequential bookings, EBITDA, audience and pricing growth.