Zynga Inc (ZNGA): Ricky Sandler’s Eminence Capital Discloses 5.1% Passive Stake

New York-based hedge fund Eminence Capital, managed by Ricky Sandler, has revealed a 5.1% passive stake in Zynga Inc (NASDAQ:ZNGA). A new filing with the U.S. Securities and Exchange Commission showed that Eminence Capital holds 38.07 million class A common stock shares of the company. The stake represents an increase from 26.53 million shares the fund disclosed in its 13F filing.

Ricky Sandler

Zynga Inc (NASDAQ:ZNGA), located in San Francisco, California, is engaged in the development of social games. The company has a market cap of $2.71 billion, and its stock currently trades at around $3.02. Analysts have the consensus average target price of $3.62 for the company’s stock, with the average recommendation ‘Hold.’

In July, the company said it had appointed Dr. Regina E. Dugan, vice president of engineering and leader of the advanced technology and projects (ATAP) group at Google Inc (NASDAQ:GOOG), to its board of directors, according to a press release.

For the second quarter of 2014, Zynga Inc (NASDAQ:ZNGA) reported a net loss of $62.5 million, compared to $15.8 million in the same quarter a year ago. The company’s revenue fell 34% to $153.2 million from $230.7 million in the second quarter of 2013. In addition, the company revised its outlook for full-year 2014. It expects adjusted EBITDA to be in the range of $40 million to $60 million, compared to previous expectation between $70 million and $100 million, and bookings are projected to be in the range of $695 million to $725 million, compared to previous expectation between $770 million and $810 million.

Other hedge funds betting big on Zynga Inc (NASDAQ:ZNGA) include Viking Global, run by Andreas Halvorsen, and Raging Capital Management, led by William C. Martin. Viking Global disclosed owning 25.93 million shares of the company, while Raging Capital Management reported holding 19.73 million shares of the company.

Eminence Capital was founded by Ricky Sandler in 1998. Sandler, 42 years old, started his career in 1991 as a research analyst at Mark Asset Management. During the second quarter, Eminence Capital focused more on Services and Technology stocks. The value of the fund’s equity portfolio for the second quarter totaled $6.1 billion. Top three holdings of Eminence Capital for the second quarter are represented by Autodesk, Inc. (NASDAQ:ADSK), National-Oilwell Varco, Inc. (NYSE:NOV), and Fossil Group Inc (NASDAQ:FOSL).

Disclosure: none

blog comments powered by Disqus
Insider Monkey Headlines
Insider Monkey Small Cap Strategy
Insider Monkey Small Cap Strategy

Insider Monkey beat the market by 52 percentage points in 24 months. Our beta is only 1.2 (don't click this link if beating the market isn't important to you).

Lists

On the Move: The 10 Fastest Growing Businesses in 2015

Fast Money: The 10 Highest Paying Fast Food Restaurants

Mixing It Up: The 14 Best Music Mashups of 2014

Rito Pls Buff: The 10 Least Played Champions in LoL Season 4

10 Covers of Popular Songs that are Better than the Originals

Must See TV: The 9 Most Anticipated Shows of 2015

The 15 Biggest Box Office Bombs of All Time

10 Things The World Can’t Stand About Americans

Picture Perfect: The 6 Smartphones with the Best Cameras

The 10 Best Countries To Work In the World

A Profitable Day At The Track: 5 Tips For Betting On Horses

Tearing You Apart: 6 Bad Habits That Ruin Relationships

Learning on the Job: The 6 Biggest Mistakes Parents Make

Shopaholics Rejoice: The 12 Biggest Malls in the World

Fright Night: 10 Horror Movies Based on True Stories

Mach Mania: The 10 Fastest Jets in the World

Military Heavyweights: The 10 Countries with the Most Tanks

All In: The 7 Richest Poker Players in the World

Abracadabra: The 10 Best Magicians in the World

The 10 Richest Asian Countries in the World in 2014

Eyes in the Sky: 10 Things You Need to Know About Drones

Rising Stars: The 6 Best Silicon Valley Startups

Military Muscle: The 5 Most Advanced Armies in South America

All that Glitters: The 7 Most Luxurious Jewelry Brands in the World

5 Things You Didn’t Know About ISIS but Should

Empowering Your Money: The 5 Best Energy Stocks to Invest In

The 11 Best Android Apps You Can’t Get on iOS

The 10 Most Important International Conflicts in 2014

Mood Enhancers: The 20 Most Uplifting Songs of all Time

Lover Beware: The 8 Countries that Cheat the Most

Breath of Fresh Air: The 25 Countries with the Best Air Quality on the Planet

Singles Beware: The 8 Worst Mistakes Made on First Dates

Healthy and Happy: The 10 Countries with Lowest Healthcare Costs

The 6 Best Company Team Building Activities to Build Workplace Camaraderie

Ships Ahoy: The 10 Busiest Shipping Ports in the World

10 Productivity Tips to Save You Time and Help You Do More With Less

Grab a Bite: The Most Popular Fast Food Restaurants in America

Friday Night Thirst: The 10 Most Popular Cocktails in the World

The 6 Greatest Unsolved Mysteries We May Never Figure Out

7 Useless Products You Never Should’ve Bought

The 5 Reasons Why You’re Single and Miserable

The 7 Most Addictive Foods in the World We Can’t Stop Eating (Even Though We Should)

5 Amazing Places You Can Swim with Dolphins

The Top 7 Most Livable Countries In The World

The 10 Most Expensive Baseball Cards Ever Pulled From A Pack

The 5 Easiest Second Languages to Learn for English Speakers

Silver Spoon: The 6 Richest Families in the World

The 20 Countries with the Largest Prison Populations in the World

The Top 10 Richest Actors in the World

The 10 Best Airline Stocks to Invest In Before They Fly Too High

Subscribe

Enter your email:

Delivered by FeedBurner

X

Thanks! An email with instructions is sent to !

Your email already exists in our database. Click here to go to your subscriptions

Insider Monkey returned 47.6% in its first year! Wondering How?

Download a complete edition of our newsletter for free!