Cohen Increases Stake in Zynga

On Thursday night, the Securities and Exchange Commission disclosed that Steven Cohen, founder of SAC Capital Advisors (SAC), has increased his stake in

to 5.3 percent. Steven Cohen increased the total number of beneficially owned shares to 38,694,391, which makes up approximately 5.3 percent of the total stake in the video-game publisher stock. The 13F filing on February 14 for the quarter ending December 31 showed that SAC had a 15.76 million share stake in Zynga, or an approximate 2.16 percent stake. According to a regulatory filing yesterday, Cohen controls 38.7 million shares or approximately $173 million. SAC is now the second largest shareholder in Zynga following the increased stake disclosed on Thursday. Shares of Zynga fell to $4.47 on Thursday, down 3.7 percent for the day. The stock regained some traction Friday morning with news surrounding the regulatory filing before taking a dip to $4.39, down as much as 1.8 percent. Shares are currently trading down 1.45 percent at $4.405.