Zuora (NYSE:ZUO) Sees Strong Trading Volume - Time to Buy?

Shares of Zuora, Inc. (NYSE:ZUO - Get Free Report) saw unusually-strong trading volume on Thursday . Approximately 4,368,767 shares were traded during mid-day trading, an increase of 135% from the previous session's volume of 1,860,993 shares.The stock last traded at $10.01 and had previously closed at $9.99.

Analysts Set New Price Targets

Separately, Needham & Company LLC restated a "hold" rating and set a $15.00 target price on shares of Zuora in a report on Monday, October 21st. Five investment analysts have rated the stock with a hold rating and one has given a buy rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Hold" and an average price target of $11.33.

Zuora Stock Performance

The firm has a fifty day moving average of $9.96 and a 200-day moving average of $9.46. The firm has a market cap of $1.54 billion, a P/E ratio of -20.45 and a beta of 1.67. The company has a quick ratio of 2.62, a current ratio of 2.62 and a debt-to-equity ratio of 2.00.

Insider Buying and Selling at Zuora

In other news, CAO Matthew R. Dobson sold 2,908 shares of the firm's stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $9.93, for a total transaction of $28,876.44. Following the sale, the chief accounting officer now owns 83,958 shares of the company's stock, valued at $833,702.94. This trade represents a 3.35 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Peter Hirsch sold 19,469 shares of the firm's stock in a transaction dated Wednesday, January 15th. The stock was sold at an average price of $9.97, for a total value of $194,105.93. Following the sale, the insider now directly owns 24,146 shares in the company, valued at approximately $240,735.62. This represents a 44.64 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 207,868 shares of company stock valued at $2,064,908. 8.62% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Zuora

A number of hedge funds have recently modified their holdings of the business. Invesco Ltd. grew its holdings in shares of Zuora by 1.1% during the fourth quarter. Invesco Ltd. now owns 101,720 shares of the company's stock worth $1,009,000 after buying an additional 1,066 shares in the last quarter. Arizona State Retirement System grew its holdings in shares of Zuora by 3.1% during the fourth quarter. Arizona State Retirement System now owns 39,425 shares of the company's stock worth $391,000 after buying an additional 1,197 shares in the last quarter. Palumbo Wealth Management LLC grew its holdings in shares of 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 buying an additional 1,210 shares in the last quarter. Legal & General Group Plc grew its holdings in shares of Zuora by 1.1% during the fourth quarter. Legal & General Group Plc now owns 175,970 shares of the company's stock worth $1,746,000 after buying an additional 1,903 shares in the last quarter. Finally, MetLife Investment Management LLC grew its holdings in shares of Zuora by 3.1% during the third quarter. MetLife Investment Management LLC now owns 76,873 shares of the company's stock worth $663,000 after buying an additional 2,303 shares in the last quarter. Institutional investors and hedge funds own 83.02% of the company's stock.

About Zuora

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.