Zuora, Inc. (NYSE:ZUO) Shares Sold by Summit Global Investments

Summit Global Investments reduced its stake in shares of Zuora, Inc. (NYSE:ZUO) by 28.7% during the 4th quarter, HoldingsChannel reports. The firm owned 149,534 shares of the company’s stock after selling 60,199 shares during the quarter. Summit Global Investments’ holdings in Zuora were worth $1,406,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in ZUO. Asset Management One Co. Ltd. purchased a new stake in shares of Zuora during the 3rd quarter valued at approximately $189,000. Raymond James & Associates raised its position in shares of Zuora by 20.7% during the 3rd quarter. Raymond James & Associates now owns 79,683 shares of the company’s stock valued at $657,000 after buying an additional 13,659 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of Zuora by 25.4% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 26,727 shares of the company’s stock valued at $220,000 after buying an additional 5,420 shares during the period. Mackenzie Financial Corp raised its position in shares of Zuora by 57.2% during the 3rd quarter. Mackenzie Financial Corp now owns 69,943 shares of the company’s stock valued at $539,000 after buying an additional 25,452 shares during the period. Finally, Strs Ohio raised its position in shares of Zuora by 149.0% during the 3rd quarter. Strs Ohio now owns 37,100 shares of the company’s stock valued at $305,000 after buying an additional 22,200 shares during the period. 83.02% of the stock is currently owned by institutional investors and hedge funds.

Zuora Stock Up 3.2 %

Zuora stock traded up $0.31 during midday trading on Friday, hitting $10.08. 1,326,969 shares of the stock were exchanged, compared to its average volume of 2,305,458. Zuora, Inc. has a 1 year low of $7.05 and a 1 year high of $12.12. The company has a debt-to-equity ratio of 2.69, a quick ratio of 2.43 and a current ratio of 2.43. The company has a 50 day moving average price of $8.96 and a two-hundred day moving average price of $8.64.

Zuora (NYSE:ZUO) last announced its quarterly earnings data on Wednesday, February 28th. The company reported ($0.04) earnings per share for the quarter, topping the consensus estimate of ($0.14) by $0.10. Zuora had a negative net margin of 15.80% and a negative return on equity of 46.38%. The company had revenue of $110.67 million during the quarter, compared to analyst estimates of $110.80 million. On average, research analysts anticipate that Zuora, Inc. will post -0.15 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of analysts have issued reports on ZUO shares. Needham & Company LLC reissued a “buy” rating and issued a $15.00 target price on shares of Zuora in a research report on Tuesday. Robert W. Baird dropped their price target on shares of Zuora from $10.00 to $8.00 and set a “neutral” rating for the company in a research note on Thursday, February 29th. Canaccord Genuity Group lowered their target price on shares of Zuora from $16.00 to $13.00 and set a “buy” rating for the company in a research note on Thursday, February 29th. Finally, The Goldman Sachs Group upgraded shares of Zuora from a “neutral” rating to a “buy” rating and upped their price objective for the company from $10.00 to $12.00 in a research note on Tuesday, January 23rd.

Insider Activity

In other news, CEO Tien Tzuo sold 239,198 shares of Zuora stock in a transaction dated Wednesday, April 17th. The shares were sold at an average price of $9.44, for a total value of $2,258,029.12. Following the completion of the transaction, the chief executive officer now directly owns 6,352 shares of the company’s stock, valued at approximately $59,962.88. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other Zuora news, CEO Tien Tzuo sold 239,198 shares of the business’s stock in a transaction dated Wednesday, April 17th. The shares were sold at an average price of $9.44, for a total transaction of $2,258,029.12. Following the completion of the transaction, the chief executive officer now directly owns 6,352 shares of the company’s stock, valued at approximately $59,962.88. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Andrew M. Cohen sold 11,864 shares of the business’s stock in a transaction dated Wednesday, April 3rd. The shares were sold at an average price of $8.61, for a total transaction of $102,149.04. Following the transaction, the insider now directly owns 137,898 shares of the company’s stock, valued at $1,187,301.78. The disclosure for this sale can be found here. In the last three months, insiders sold 481,854 shares of company stock valued at $4,393,048. Company insiders own 9.25% 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.