Renaissance Technologies LLC Sells 29,800 Shares of Zuora, Inc. (NYSE:ZUO)

Renaissance Technologies LLC cut its holdings in Zuora, Inc. (NYSE:ZUO) by 13.3% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 194,400 shares of the company’s stock after selling 29,800 shares during the period. Renaissance Technologies LLC owned approximately 0.13% of Zuora worth $1,930,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently made changes to their positions in the business. Arizona State Retirement System grew its stake in shares of Zuora by 4.0% in the 2nd quarter. Arizona State Retirement System now owns 36,648 shares of the company’s stock valued at $364,000 after buying an additional 1,402 shares during the period. CWM LLC grew its stake in shares of Zuora by 25.0% in the 2nd quarter. CWM LLC now owns 7,945 shares of the company’s stock valued at $79,000 after buying an additional 1,590 shares during the period. Principal Financial Group Inc. grew its stake in shares of Zuora by 18.6% in the 1st quarter. Principal Financial Group Inc. now owns 18,218 shares of the company’s stock valued at $166,000 after buying an additional 2,851 shares during the period. ProShare Advisors LLC grew its stake in shares of Zuora by 12.8% in the 1st quarter. ProShare Advisors LLC now owns 26,615 shares of the company’s stock valued at $243,000 after buying an additional 3,029 shares during the period. Finally, Diversified Trust Co grew its stake in shares of Zuora by 9.2% in the 2nd quarter. Diversified Trust Co now owns 38,872 shares of the company’s stock valued at $386,000 after buying an additional 3,260 shares during the period. 83.02% of the stock is owned by institutional investors.

Zuora Price Performance

ZUO stock opened at $8.37 on Thursday. The company has a market capitalization of $1.22 billion, a P/E ratio of -19.47 and a beta of 1.72. 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 $7.05 and a 52-week high of $10.85. The business has a 50-day simple moving average of $8.71 and a two-hundred day simple moving average of $9.22.

Zuora (NYSE:ZUO) last released its quarterly earnings results on Wednesday, August 21st. The company reported $0.19 earnings per share (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 business had revenue of $115.40 million during the quarter, compared to the consensus estimate of $112.63 million. During the same quarter in the previous year, the business earned ($0.12) EPS. The company’s quarterly revenue was up 6.8% on a year-over-year basis. Research analysts expect that Zuora, Inc. will post -0.06 EPS for the current fiscal year.

Analyst Ratings Changes

ZUO has been the subject of several research reports. Needham & Company LLC restated a “buy” rating and issued a $15.00 target price on shares of Zuora in a research note on Thursday, August 22nd. Craig Hallum downgraded Zuora from a “buy” rating to a “hold” rating and reduced their target price for the company from $12.00 to $10.00 in a research note on Monday, July 8th. Finally, Canaccord Genuity Group restated a “buy” rating and issued a $13.00 target price on shares of Zuora in a research note on Thursday, August 22nd. Three research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $11.86.

Insider Transactions at Zuora

In other news, insider Andrew M. Cohen sold 3,861 shares of the business’s stock in a transaction that occurred on Wednesday, July 10th. The stock was sold at an average price of $8.71, for a total value of $33,629.31. Following the transaction, the insider now owns 148,640 shares in the company, valued at approximately $1,294,654.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other news, CEO Tien Tzuo sold 114,825 shares of the business’s stock in a transaction that occurred on Monday, July 8th. The stock was sold at an average price of $9.05, for a total value of $1,039,166.25. Following the transaction, the chief executive officer now owns 6,352 shares in the company, valued at approximately $57,485.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Andrew M. Cohen sold 3,861 shares of the business’s stock in a transaction that occurred on Wednesday, July 10th. The stock was sold at an average price of $8.71, for a total value of $33,629.31. Following the completion of the transaction, the insider now owns 148,640 shares in the company, valued at approximately $1,294,654.40. The disclosure for this sale can be found here. Insiders have sold 301,833 shares of company stock worth $2,719,755 in the last 90 days. Insiders own 8.62% of the company’s stock.

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.