JPMorgan Chase & Co. Has $9.71 Million Stock Holdings in Zuora, Inc. (NYSE:ZUO)

JPMorgan Chase & Co. lifted its stake in Zuora, Inc. (NYSE:ZUO - Free Report) by 52.5% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,126,596 shares of the company's stock after purchasing an additional 387,876 shares during the period. JPMorgan Chase & Co. owned 0.73% of Zuora worth $9,711,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in ZUO. Point72 Asia Singapore Pte. Ltd. bought a new position in shares of Zuora during the second quarter worth $44,000. Quarry LP lifted its holdings in Zuora by 504.9% during the third quarter. Quarry LP now owns 6,164 shares of the company's stock worth $53,000 after acquiring an additional 5,145 shares in the last quarter. Point72 Hong Kong Ltd acquired a new position in Zuora in the third quarter valued at about $63,000. Castleview Partners LLC bought a new stake in shares of Zuora in the third quarter worth about $79,000. Finally, Canada Pension Plan Investment Board acquired a new stake in shares of Zuora during the second quarter worth about $85,000. 83.02% of the stock is owned by institutional investors and hedge funds.

Zuora Stock Up 0.1 %

ZUO traded up $0.01 during trading hours on Tuesday, hitting $9.97. 954,940 shares of the company's stock were exchanged, compared to its average volume of 2,428,738. The stock has a market cap of $1.53 billion, a price-to-earnings ratio of -20.35 and a beta of 1.67. Zuora, Inc. has a 1-year low of $7.70 and a 1-year high of $10.85. The stock's 50-day moving average is $9.93 and its two-hundred day moving average is $9.34. The company has a quick ratio of 2.77, a current ratio of 2.62 and a debt-to-equity ratio of 2.00.

Insider Buying and Selling

In related news, insider Peter Hirsch sold 25,664 shares of Zuora stock in a transaction dated Thursday, January 2nd. The stock was 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 approximately $433,096.95. This trade represents a 37.04 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CAO Matthew R. Dobson sold 2,908 shares of the business's stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $9.93, for a total value of $28,876.44. Following the transaction, the chief accounting officer now directly owns 83,958 shares in the company, valued at approximately $833,702.94. This trade represents a 3.35 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 188,399 shares of company stock worth $1,870,802. Corporate insiders own 8.62% of the company's stock.

Analyst Ratings Changes

Several equities analysts have recently weighed in on ZUO shares. Needham & Company LLC reiterated a "hold" rating and issued a $15.00 price objective on shares of Zuora in a research report on Monday, October 21st. Lake Street Capital reaffirmed a "hold" rating and issued a $10.00 price target on shares of Zuora in a research note on Friday, October 18th. Five equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has an average 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.