Zuora, Inc. (NYSE:ZUO) Stock Position Raised by JPMorgan Chase & Co.

JPMorgan Chase & Co. lifted its stake in shares of Zuora, Inc. (NYSE:ZUO) by 52.5% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,126,596 shares of the company’s stock after purchasing an additional 387,876 shares during the period. JPMorgan Chase & Co. owned approximately 0.73% of Zuora worth $9,711,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of the stock. Scalar Gauge Management LLC raised its holdings in shares of Zuora by 27.4% during the third quarter. Scalar Gauge Management LLC now owns 6,484,599 shares of the company’s stock valued at $55,897,000 after acquiring an additional 1,393,327 shares during the period. Solel Partners LP raised its stake in Zuora by 13.5% during the 2nd quarter. Solel Partners LP now owns 4,058,308 shares of the company’s stock valued at $40,299,000 after purchasing an additional 483,445 shares during the period. State Street Corp raised its stake in Zuora by 0.3% during the 3rd quarter. State Street Corp now owns 3,302,811 shares of the company’s stock valued at $28,470,000 after purchasing an additional 10,424 shares during the period. Geode Capital Management LLC lifted its holdings in shares of Zuora by 4.0% in the third quarter. Geode Capital Management LLC now owns 3,137,007 shares of the company’s stock valued at $27,047,000 after purchasing an additional 119,439 shares in the last quarter. Finally, Potrero Capital Research LLC boosted its position in shares of Zuora by 8.1% in the third quarter. Potrero Capital Research LLC now owns 2,949,360 shares of the company’s stock worth $25,423,000 after buying an additional 219,863 shares during the period. 83.02% of the stock is owned by hedge funds and other institutional investors.

Zuora Stock Performance

NYSE:ZUO opened at $9.96 on Tuesday. The company has a debt-to-equity ratio of 2.00, a quick ratio of 2.77 and a current ratio of 2.62. The company has a market capitalization of $1.53 billion, a P/E ratio of -20.33 and a beta of 1.67. The stock’s 50 day moving average price is $9.93 and its 200 day moving average price is $9.34. Zuora, Inc. has a 52 week low of $7.70 and a 52 week high of $10.85.

Insider Transactions at Zuora

In other news, CFO Todd Mcelhatton sold 50,373 shares of the business’s stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $9.93, for a total value of $500,203.89. Following the completion of the sale, the chief financial officer now directly owns 404,634 shares in the company, valued at approximately $4,018,015.62. The trade was a 11.07 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Peter Hirsch sold 25,664 shares of the firm’s stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $9.93, for a total transaction of $254,843.52. Following the completion of the transaction, the insider now owns 43,615 shares in the company, valued at $433,096.95. The trade was a 37.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 188,399 shares of company stock worth $1,870,802 in the last 90 days. 8.62% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on ZUO. Needham & Company LLC reiterated a “hold” rating and issued a $15.00 target price on shares of Zuora in a report on Monday, October 21st. Lake Street Capital reiterated a “hold” rating and issued a $10.00 target price on shares of Zuora in a research report on Friday, October 18th. Five analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $11.43.

Zuora Profile

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.