The largest maker of online social games Zynga Inc (NASDAQ:ZNGA) was filed lawsuit by a shareholder following managers were allowable to sell stock early for over $200M, while sales by lower level employees and outsiders were blocked.
A former Zynga product manager, Wendy Lee competed that after a Dec. 16, 2011, IPO, substantially all shareholders, counting all officers and directors, were banned from selling shares for 165 days.
Lee stated in a Delaware Chancery Court complaint made public in Wilmington that lockup was waived the after March for some executives, who sold over 40M shares in a secondary offering.
Shares of Zynga Inc (NASDAQ:ZNGA) opened at $3.38 with 785.49 million outstanding shares and touch its highest price of $3.62 of the day and then finished at $3.55 by scoring +2.90%, as in the whole session stocks gain volume of 42.59 million shares which is higher than its average volume.
As the owner ship concerns stock institutional ownership remained 43.66% while insider ownership included 0.33%. The share capital of ZNGA has 785.49 million outstanding shares amid them 580.96 million shares have been floated in market.
For investors focus on the performance of the stocks so the ZNGA showed weekly ahead performance of 5.65% which was maintained for the month at 0.85%. Correspondingly the positive performance for the quarter was remained 47.30% and if took notice on yearly performance that was -72.44% whereas the year to date performance halted at 50.42%.
As the moving toward the returns measures returns on Investment ratio is significant measure which investor should have in consideration, the ZNGA return on investment was recorded as Y% as compare to its rivals has Yelp Inc (NYSE:YELP)’s ROI -19.38%, LinkedIn Corp (NYSE:LNKD)’s ROI 2.68%, AOL, Inc. (NYSE:AOL)’s ROI 45.71%, Tripadvisor Inc (NASDAQ:TRIP)’s ROI 21.51%.
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