Principal Financial Group Inc. Sells 4,711 Shares of Zuora, Inc. (NYSE:ZUO)

Principal Financial Group Inc. trimmed its position in Zuora, Inc. (NYSE:ZUO) by 26.8% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 12,851 shares of the company’s stock after selling 4,711 shares during the period. Principal Financial Group Inc.’s holdings in Zuora were worth $111,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also made changes to their positions in the business. Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of Zuora during the second quarter worth about $44,000. CWM LLC increased its holdings 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 buying an additional 1,590 shares in the last quarter. Canada Pension Plan Investment Board acquired a new position in shares of Zuora in the second quarter worth about $85,000. Castleview Partners LLC acquired a new position in Zuora in the 3rd quarter worth about $79,000. Finally, Palumbo Wealth Management LLC boosted its position in Zuora by 11.7% during the third quarter. Palumbo Wealth Management LLC now owns 11,536 shares of the company’s stock worth $99,000 after purchasing an additional 1,210 shares in the last quarter. 83.02% of the stock is owned by institutional investors and hedge funds.

Zuora Stock Performance

Shares of ZUO stock opened at $9.94 on Wednesday. The stock has a market capitalization of $1.51 billion, a PE ratio of -31.05 and a beta of 1.70. The firm has a 50 day moving average of $9.41 and a two-hundred day moving average of $9.31. Zuora, Inc. has a 52 week low of $7.70 and a 52 week high of $10.85. The company has a quick ratio of 2.77, a current ratio of 2.77 and a debt-to-equity ratio of 1.90.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on ZUO shares. Needham & Company LLC restated a “hold” rating and issued a $15.00 price objective on shares of Zuora in a research report on Monday, October 21st. 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. Finally, 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 issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $11.43.

Insider Buying and Selling at Zuora

In other Zuora news, CRO Robert J. Traube sold 62,707 shares of Zuora stock in a transaction that occurred on Thursday, October 3rd. The stock was sold at an average price of $8.34, for a total value of $522,976.38. Following the transaction, the executive now directly owns 109,704 shares in the company, valued at approximately $914,931.36. This trade represents a 36.37 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Peter Hirsch sold 18,855 shares of the company’s stock in a transaction that occurred on Tuesday, October 15th. The stock was sold at an average price of $9.06, for a total value of $170,826.30. Following the sale, the insider now owns 19,279 shares of the company’s stock, valued at $174,667.74. This trade represents a 49.44 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 221,081 shares of company stock valued at $1,857,391. Insiders own 8.62% of the company’s stock.

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.