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

272 Capital LP trimmed its stake in Zuora, Inc. (NYSE:ZUO) by 21.2% in the 2nd quarter, HoldingsChannel reports. The fund owned 385,326 shares of the company’s stock after selling 103,822 shares during the quarter. Zuora comprises 1.9% of 272 Capital LP’s investment portfolio, making the stock its 20th largest position. 272 Capital LP’s holdings in Zuora were worth $3,826,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in the stock. CWM LLC grew its stake in Zuora by 25.0% in the second quarter. CWM LLC now owns 7,945 shares of the company’s stock valued at $79,000 after purchasing an additional 1,590 shares during the last quarter. Canada Pension Plan Investment Board purchased a new position in shares of Zuora in the 2nd quarter worth approximately $85,000. Quent Capital LLC purchased a new position in shares of Zuora in the 1st quarter worth approximately $83,000. Williams Financial LLC bought a new position in shares of Zuora during the 2nd quarter worth approximately $119,000. Finally, Victory Capital Management Inc. lifted its position in Zuora by 25.5% during the fourth quarter. Victory Capital Management Inc. now owns 17,631 shares of the company’s stock valued at $166,000 after acquiring an additional 3,582 shares during the last quarter. 83.02% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms have issued reports on ZUO. Craig Hallum lowered shares of Zuora from a “buy” rating to a “hold” rating and cut their price target for the stock from $12.00 to $10.00 in a report on Monday, July 8th. Canaccord Genuity Group reaffirmed a “buy” rating and set a $13.00 target price on shares of Zuora in a research report on Thursday, August 22nd. Needham & Company LLC reiterated a “buy” rating and issued a $15.00 price target on shares of Zuora in a research note on Thursday, August 22nd. Finally, Robert W. Baird boosted their price target on Zuora from $8.00 to $10.00 and gave the stock a “neutral” rating in a research note on Tuesday, May 28th. Three research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $11.86.

Zuora Stock Performance

Shares of ZUO opened at $8.64 on Tuesday. The stock has a 50-day moving average of $8.82 and a two-hundred day moving average of $9.24. The company has a debt-to-equity ratio of 1.90, a quick ratio of 2.77 and a current ratio of 2.77. The stock has a market cap of $1.26 billion, a P/E ratio of -20.09 and a beta of 1.72. Zuora, Inc. has a one year low of $7.05 and a one year high of $10.85.

Zuora (NYSE:ZUO) last issued its 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. Zuora had a negative return on equity of 12.54% and a negative net margin of 10.60%. The firm had revenue of $115.40 million for the quarter, compared to analyst estimates of $112.63 million. During the same quarter in the prior year, the firm earned ($0.12) earnings per share. Zuora’s revenue for the quarter was up 6.8% on a year-over-year basis. As a group, research analysts predict that Zuora, Inc. will post -0.06 EPS for the current year.

Insider Transactions at Zuora

In related news, CEO Tien Tzuo sold 114,825 shares of the business’s stock in a transaction on Monday, July 8th. The shares were sold at an average price of $9.05, for a total transaction of $1,039,166.25. Following the completion of the transaction, the chief executive officer now directly owns 6,352 shares in the company, valued at $57,485.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, CEO Tien Tzuo sold 114,825 shares of Zuora stock in a transaction that occurred on Monday, July 8th. The stock was sold at an average price of $9.05, for a total transaction of $1,039,166.25. Following the completion of the transaction, the chief executive officer now directly owns 6,352 shares in the company, valued at $57,485.60. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Peter Hirsch sold 58,267 shares of the business’s stock in a transaction that occurred on Monday, July 15th. The shares were sold at an average price of $9.06, for a total value of $527,899.02. Following the completion of the transaction, the insider now directly owns 14,566 shares of the company’s stock, valued at $131,967.96. The disclosure for this sale can be found here. Insiders have sold 372,666 shares of company stock worth $3,408,961 over the last 90 days. 8.62% of the stock is currently owned by company insiders.

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.