Quest Partners LLC Acquires 128,419 Shares of Zuora, Inc. (NYSE:ZUO)

Quest Partners LLC boosted its position in Zuora, Inc. (NYSE:ZUO - Free Report) by 233,489.1% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 128,474 shares of the company's stock after acquiring an additional 128,419 shares during the period. Quest Partners LLC owned 0.08% of Zuora worth $1,107,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in ZUO. Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of Zuora in the second quarter valued at about $44,000. CWM LLC lifted its position in shares of Zuora by 25.0% during the 2nd quarter. CWM LLC now owns 7,945 shares of the company's stock worth $79,000 after buying an additional 1,590 shares in the last quarter. Castleview Partners LLC purchased a new stake in shares of Zuora during the third quarter valued at approximately $79,000. Canada Pension Plan Investment Board bought a new stake in Zuora during the second quarter worth $85,000. Finally, Palumbo Wealth Management LLC grew its stake in Zuora by 11.7% in the 3rd 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. Institutional investors and hedge funds own 83.02% of the company's stock.

Wall Street Analyst Weigh In

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

Insiders Place Their Bets

In related news, CFO Todd Mcelhatton sold 51,879 shares of the stock in a transaction on Thursday, October 3rd. The stock was sold at an average price of $8.34, for a total value of $432,670.86. Following the transaction, the chief financial officer now owns 356,875 shares of the company's stock, valued at $2,976,337.50. This represents a 12.69 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Andrew M. Cohen sold 20,773 shares of the company's stock in a transaction dated Thursday, October 3rd. The stock was sold at an average price of $8.34, for a total value of $173,246.82. Following the completion of the transaction, the insider now 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. Insiders have sold 221,081 shares of company stock worth $1,857,391 in the last ninety days. 8.62% of the stock is currently owned by insiders.

Zuora Price Performance

Shares of Zuora stock remained flat at $9.90 during trading hours on Thursday. The stock had a trading volume of 580,533 shares, compared to its average volume of 1,791,199. The company has a debt-to-equity ratio of 1.90, a quick ratio of 2.77 and a current ratio of 2.77. Zuora, Inc. has a 52-week low of $7.70 and a 52-week high of $10.85. The company has a market cap of $1.50 billion, a price-to-earnings ratio of -30.94 and a beta of 1.70. The business has a 50 day moving average price of $9.32 and a two-hundred day moving average price of $9.33.

Zuora (NYSE:ZUO - Get Free Report) last released its quarterly earnings results on Wednesday, August 21st. The company reported $0.19 EPS for the quarter, beating analysts' consensus estimates of $0.10 by $0.09. The firm had revenue of $115.40 million during the quarter, compared to analyst estimates of $112.63 million. Zuora had a negative net margin of 10.60% and a negative return on equity of 12.54%. The business's revenue for the quarter was up 6.8% on a year-over-year basis. During the same period in the previous year, the business earned ($0.12) EPS.

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.