Fmr LLC Increases Holdings in Zuora, Inc. (NYSE:ZUO)

Fmr LLC increased its stake in shares of Zuora, Inc. (NYSE:ZUO) by 38.4% during the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 246,499 shares of the company’s stock after buying an additional 68,338 shares during the quarter. Fmr LLC owned about 0.16% of Zuora worth $2,125,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in ZUO. Point72 Asia Singapore Pte. Ltd. purchased a new position in Zuora during the second quarter worth approximately $44,000. CWM LLC raised its position in Zuora by 25.0% in the second quarter. CWM LLC now owns 7,945 shares of the company’s stock valued at $79,000 after purchasing an additional 1,590 shares during the period. Castleview Partners LLC purchased a new stake in Zuora in the third quarter valued at $79,000. Canada Pension Plan Investment Board purchased a new stake in Zuora in the second quarter valued at $85,000. Finally, Palumbo Wealth Management LLC raised its position in Zuora by 11.7% in the third quarter. Palumbo Wealth Management LLC now owns 11,536 shares of the company’s stock valued at $99,000 after purchasing an additional 1,210 shares during the period. Hedge funds and other institutional investors own 83.02% of the company’s stock.

Insider Activity at Zuora

In related news, CEO Tien Tzuo sold 63,873 shares of the business’s stock in a transaction on Thursday, October 3rd. The stock was sold at an average price of $8.34, for a total transaction of $532,700.82. Following the completion of the transaction, the chief executive officer now directly owns 63,312 shares of the company’s stock, valued at $528,022.08. The trade was a 50.22 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Andrew M. Cohen sold 20,773 shares of the business’s stock in a transaction on Thursday, October 3rd. The stock was sold at an average price of $8.34, for a total value of $173,246.82. Following the transaction, the insider now directly owns 172,033 shares of the company’s stock, valued at $1,434,755.22. The trade was a 10.77 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 221,081 shares of company stock worth $1,857,391. 8.62% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of equities research analysts have commented on the company. Needham & Company LLC restated a “hold” rating and issued a $15.00 target price on shares of Zuora in a research report on Monday, October 21st. Lake Street Capital restated a “hold” rating and issued a $10.00 target price on shares of Zuora in a research report on Friday, October 18th. Finally, Canaccord Genuity Group restated a “buy” rating and issued a $13.00 target price on shares of Zuora in a research report on Thursday, August 22nd. Five investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $11.43.

Zuora Price Performance

ZUO stock opened at $9.92 on Friday. The company has a current ratio of 2.62, a quick ratio of 2.77 and a debt-to-equity ratio of 2.00. The company has a market capitalization of $1.52 billion, a PE ratio of -20.24 and a beta of 1.66. Zuora, Inc. has a 12-month low of $7.70 and a 12-month high of $10.85. The business’s fifty day moving average price is $9.76 and its 200 day moving average price is $9.30.

About Zuora

Zuora, Inc provides a monetization suite for modern businesses to help companies launch and scale new services and operate dynamic customer-centric business models. The company offers Zuora Billing that allows customers to deploy various pricing and packaging strategies to monetize their recurring revenue streams, bill customers, calculate prorations when subscriptions change, and automate billing and payment operations; Zuora Revenue, a revenue recognition and automation solution that accounting teams use to manage their complex revenue streams; Zuora Payments to provide payment orchestration services for companies looking to operate globally; and Zephr, a digital subscriber experience platform that helps companies orchestrate dynamic experiences that increase conversion, reduce churn, and nurture ongoing subscriber relationships.