272 Capital LP Cuts Holdings in Zuora, Inc. (NYSE:ZUO)

272 Capital LP lowered its stake in Zuora, Inc. (NYSE:ZUO - Free Report) by 55.7% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 170,829 shares of the company's stock after selling 214,497 shares during the period. Zuora accounts for 1.6% of 272 Capital LP's holdings, making the stock its 23rd largest holding. 272 Capital LP owned approximately 0.11% of Zuora worth $1,473,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of ZUO. Vanguard Group Inc. increased its holdings in Zuora by 5.6% in the 1st quarter. Vanguard Group Inc. now owns 17,262,494 shares of the company's stock worth $157,434,000 after purchasing an additional 917,565 shares in the last quarter. Scalar Gauge Management LLC increased its holdings in Zuora by 27.4% in the third quarter. Scalar Gauge Management LLC now owns 6,484,599 shares of the company's stock valued at $55,897,000 after purchasing an additional 1,393,327 shares during the period. Solel Partners LP raised its position in Zuora by 13.5% during the 2nd quarter. Solel Partners LP now owns 4,058,308 shares of the company's stock worth $40,299,000 after purchasing an additional 483,445 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in Zuora by 0.4% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,153,372 shares of the company's stock worth $9,942,000 after buying an additional 4,432 shares during the period. Finally, Healthcare of Ontario Pension Plan Trust Fund grew its position in shares of Zuora by 27.4% in the 2nd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 985,632 shares of the company's stock valued at $9,787,000 after buying an additional 212,200 shares during the last quarter. Institutional investors own 83.02% of the company's stock.

Insider Buying and Selling at Zuora

In other Zuora news, CFO Todd Mcelhatton sold 51,879 shares of Zuora stock in a transaction dated Thursday, October 3rd. The stock was sold at an average price of $8.34, for a total transaction of $432,670.86. Following the completion of the transaction, the chief financial officer now owns 356,875 shares in the company, valued at approximately $2,976,337.50. The trade was a 12.69 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Peter Hirsch sold 18,855 shares of the 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 completion of the sale, the insider now directly owns 19,279 shares of the company's stock, valued at approximately $174,667.74. This trade represents a 49.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 221,081 shares of company stock valued at $1,857,391. Company insiders own 8.62% of the company's stock.

Wall Street Analysts Forecast Growth

ZUO has been the topic of a number of recent analyst reports. Needham & Company LLC reaffirmed a "hold" rating and issued a $15.00 price objective on shares of Zuora in a research note on Monday, October 21st. Lake Street Capital reissued a "hold" rating and issued a $10.00 price objective on shares of Zuora in a research note on Friday, October 18th. Finally, Canaccord Genuity Group restated a "buy" rating and set a $13.00 target price on shares of Zuora in a research report on Thursday, August 22nd. Five research analysts have rated the stock with a hold rating and two have issued a buy rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $11.43.

Zuora Stock Up 0.1 %

Zuora stock traded up $0.01 during midday trading on Friday, reaching $9.93. The stock had a trading volume of 1,190,096 shares, compared to its average volume of 2,954,214. The company has a fifty day moving average price of $9.48 and a two-hundred day moving average price of $9.30. Zuora, Inc. has a 12 month low of $7.70 and a 12 month high of $10.85. The company has a current ratio of 2.77, a quick ratio of 2.77 and a debt-to-equity ratio of 1.90. The company has a market capitalization of $1.50 billion, a P/E ratio of -31.03 and a beta of 1.70.

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.