Zynga Inc Director Siminoff Sells 10,000 Shares Again

Zynga Inc Director Siminoff Sells 10,000 Shares Again

Zynga Director Ellen F. Siminoff sold 10,000 shares of the game maker in an open-market transaction dated June 15. Siminoff sold the shares at an average price of $3, and the total transaction amounted to $30,000. After the transaction, the director now owns 78,616 shares valued at approximately $235,848, according to a filing with the SEC disclosed on June 17.

Zynga a late entrant into action-strategy games

In May, Siminoff sold 10,000 shares. Also around the same date, Zynga VP Devang Shah sold 5,817 shares at $2.99 per share, and the total transaction amounted to $17,393.

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Zynga was late to enter the action-strategy game category. However, now the game maker has big plans to make a mark in the segment with two new games. Known for social games such as FarmVille and Words with Friends, Zynga debuted its action-strategy game Empires & Allies last month.

For the category, which is dominated by games such as Clash of Clans (by Supercell) and Game of War: Fire Age (by Machine Zone), Zynga is preparing for its next name, Dawn of Titans, from NaturalMotion, which it acquired in January 2014.

Consensus rating of Hold

Many analysts have released their verdicts on Zynga in recent months. In a research note on May 18, analysts at Vetr upgraded their rating on the game maker from Hold to Buy with a price target of $3.38. Zacks analysts upgraded their rating from Hold to Buy with a price target of $3.50 in a research note May 14. Sterane Agee CRT analysts, in a note on May 14, reiterated their Hold rating on the game maker. Piper Jaffray analysts reiterated their Neutral rating but raised their price target from $2.50 to $3 in a research note on May 10. Presently, Zynga has a consensus rating of Hold and an average price target of $3.49.

Around 11.51% of Zynga’s shares are owned by company Insiders, while 63.5% are held by institutional investors. The game maker’s stock has a 52-week low of $2.20 and a 52-week high of $3.29. The company’s average three-month share volume is about 17.77 million shares, while the average daily volume over 10 days is about 7.77 million shares. On Wednesday, the stock witnessed a trading volume of about 4.48 million shares.

On Wednesday, Zynga shares closed up 0.34%, and year to date, the stock is up by almost 9%.

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