Zynga Inc Insider Selling: Ellen Siminoff, Devang Shah Sell Shares

Zynga director Ellen Siminoff sold 10,000 shares in an open market transaction, according to a filing with the SEC, on May 19. Also Zynga VP Devang Shah sold 5,817 shares in a transaction dated the same day.

Zynga Inc Insider Selling: Ellen Siminoff, Devang Shah Sell Shares

Insider selling details

Siminoff sold the shares at an average price of $3, and the total transaction amounted to $30,415. Presently, Siminoff owns 360,965 Zynga shares. Shah sold the shares at an average price of $3 for a cumulative sell value of $17,422. Post-sale, Devang now owns 149,271 shares of the company’s stock.

Consensus rating of Hold for Zynga

Many analysts have released their verdicts on Zynga in the last few weeks. In a research note last Thursday, analysts at Zacks upgraded their rating on the game maker from Hold to Buy and gave a price target of $3.50. Sterne Agee CRT analysts, in a research note on the same day, reiterated their Hold rating on Zynga. Piper Jaffray analysts reiterated their Neutral rating on the stock but raised their price target from $2.50 to $3 in a research note on May 10. Benchmark Co. analysts reiterated Their Hold rating on the game maker with a price target of a $2.54 in a research note also on May 10.

Zynga has an average rating of Hold by 18 brokerages presently covering the stock. Two analysts have rated the game maker as a Sell, nine have recommended a Hold rating, and four analysts consider Zynga a Buy. Presently, Zynga has a consensus price target of $3.49.

Hedge fund ownership

Zynga was owned by 195 institutional investors and hedge funds in the last quarter. For the same period, the game maker had 55.84% institutional ownership, says a report from Octafinance. Also there were 32 funds which closed their position in the stock, while 59 of the tracked funds lowered their exposure to the game maker. Thirty-six funds created new positions in the stock, and 59 raised their stake in the social game maker, according to the report.

Hedge funds having Zynga in their top 10 holdings include Plymouth Lane Capital Management LLC, Iszo Capital Management, Destrier Capital Management LLC, Contour Asset Management LLC, Fny Managed Accounts, Tyrian Investments, Eminence Capital LP, and Quinn Opportunity Partners LLC.

On Wednesday, Zynga shares closed down 1.33% at $2.96, and year to date, the stock is up by almost 9%.

About the Author

Aman Jain
Aman is MBA (Finance) with an experience on both Marketing and Finance side. He has worked as a Risk Analyst for AIR Worldwide, and is currently leading VeRa FinServ, a Financial Research firm. Favorite pastimes include watching science fiction movies, reviewing tech gadgets, playing PC games and cricket. - Email him at amanjain@valuewalk.com