Algert Global LLC Increases Stake in Zuora, Inc. (NYSE:ZUO)

Algert Global LLC increased its position in shares of Zuora, Inc. (NYSE:ZUO) by 96.6% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 228,855 shares of the company’s stock after buying an additional 112,420 shares during the period. Algert Global LLC owned about 0.15% of Zuora worth $1,973,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. increased its holdings in Zuora by 0.4% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,153,372 shares of the company’s stock valued at $9,942,000 after buying an additional 4,432 shares during the last quarter. Intech Investment Management LLC acquired a new position in shares of Zuora during the 3rd quarter worth about $305,000. Connor Clark & Lunn Investment Management Ltd. increased its holdings in shares of Zuora by 27.9% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 502,634 shares of the company’s stock valued at $4,333,000 after acquiring an additional 109,570 shares during the last quarter. Quest Partners LLC raised its position in shares of Zuora by 233,489.1% during the 3rd quarter. Quest Partners LLC now owns 128,474 shares of the company’s stock worth $1,107,000 after acquiring an additional 128,419 shares in the last quarter. Finally, Cornercap Investment Counsel Inc. purchased a new stake in Zuora during the third quarter worth approximately $494,000. Institutional investors and hedge funds own 83.02% of the company’s stock.

Zuora Stock Down 0.2 %

ZUO stock opened at $9.92 on Thursday. The company has a market cap of $1.50 billion, a price-to-earnings ratio of -31.00 and a beta of 1.70. The company has a fifty day moving average price of $9.43 and a 200 day moving average price of $9.32. The company has a debt-to-equity ratio of 1.90, a current ratio of 2.77 and a quick ratio of 2.77. Zuora, Inc. has a 12 month low of $7.70 and a 12 month high of $10.85.

Analysts Set New Price Targets

Several equities analysts have commented on ZUO shares. Lake Street Capital reiterated a “hold” rating and issued a $10.00 price target on shares of Zuora in a research note on Friday, October 18th. Canaccord Genuity Group reaffirmed a “buy” rating and issued a $13.00 target price on shares of Zuora in a research report on Thursday, August 22nd. Finally, Needham & Company LLC reissued a “hold” rating and issued a $15.00 price target on shares of Zuora in a research report on Monday, October 21st. Five investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $11.43.

Insider Buying and Selling

In other news, insider Peter Hirsch sold 18,855 shares of the business’s stock in a transaction that occurred on Tuesday, October 15th. The stock was sold at an average price of $9.06, for a total value of $170,826.30. Following the transaction, the insider now owns 19,279 shares of the company’s stock, valued at approximately $174,667.74. The trade was a 49.44 % 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, CFO Todd Mcelhatton sold 51,879 shares of the stock in a transaction on Thursday, October 3rd. The stock was sold at an average price of $8.34, for a total value of $432,670.86. Following the sale, the chief financial officer now directly owns 356,875 shares of the company’s stock, valued at approximately $2,976,337.50. This represents a 12.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 221,081 shares of company stock valued at $1,857,391 over the last quarter. 8.62% of the stock is currently owned by insiders.

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.