Lincoln National Corp Takes $140,000 Position in Zuora, Inc. (NYSE:ZUO)

Posted by Defense World Staff on May 12th, 2023

Lincoln National Corp acquired a new stake in Zuora, Inc. (NYSE:ZUO – Get Rating) in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 22,071 shares of the company’s stock, valued at approximately $140,000.

Several other large investors have also modified their holdings of the company. JPMorgan Chase & Co. raised its stake in shares of Zuora by 41.7% during the first quarter. JPMorgan Chase & Co. now owns 640,724 shares of the company’s stock worth $9,598,000 after purchasing an additional 188,563 shares during the last quarter. Raymond James & Associates raised its stake in shares of Zuora by 207.5% during the first quarter. Raymond James & Associates now owns 37,212 shares of the company’s stock worth $557,000 after purchasing an additional 25,110 shares during the last quarter. Acadian Asset Management LLC raised its position in Zuora by 242.6% in the first quarter. Acadian Asset Management LLC now owns 22,435 shares of the company’s stock worth $334,000 after acquiring an additional 15,887 shares in the last quarter. MetLife Investment Management LLC raised its position in Zuora by 56.8% in the first quarter. MetLife Investment Management LLC now owns 58,644 shares of the company’s stock worth $878,000 after acquiring an additional 21,232 shares in the last quarter. Finally, BlackRock Inc. raised its position in Zuora by 1.5% in the first quarter. BlackRock Inc. now owns 8,274,224 shares of the company’s stock worth $123,948,000 after acquiring an additional 125,301 shares in the last quarter. 69.11% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Zuora

In other Zuora news, CRO Robert J. Traube sold 19,335 shares of the company’s stock in a transaction that occurred on Monday, April 10th. The stock was sold at an average price of $9.00, for a total value of $174,015.00. Following the transaction, the executive now directly owns 36,892 shares of the company’s stock, valued at approximately $332,028. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, CFO Todd Mcelhatton sold 17,905 shares of the business’s stock in a transaction that occurred on Monday, April 3rd. The stock was sold at an average price of $9.34, for a total value of $167,232.70. Following the completion of the sale, the chief financial officer now directly owns 143,275 shares in the company, valued at approximately $1,338,188.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CRO Robert J. Traube sold 19,335 shares of the business’s stock in a transaction that occurred on Monday, April 10th. The shares were sold at an average price of $9.00, for a total value of $174,015.00. Following the completion of the sale, the executive now owns 36,892 shares of the company’s stock, valued at $332,028. The disclosure for this sale can be found here. Insiders have sold a total of 86,606 shares of company stock valued at $803,526 in the last three months. Corporate insiders own 9.08% of the company’s stock.

Zuora Stock Performance

Zuora stock opened at $7.88 on Friday. The stock’s 50 day moving average price is $8.82 and its 200 day moving average price is $7.89. Zuora, Inc. has a one year low of $5.45 and a one year high of $10.79. The firm has a market capitalization of $1.07 billion, a PE ratio of -8.47 and a beta of 1.83. The company has a debt-to-equity ratio of 2.17, a quick ratio of 1.66 and a current ratio of 1.66.

Zuora (NYSE:ZUO – Get Rating) last announced its earnings results on Wednesday, March 1st. The company reported ($0.16) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.27) by $0.11. Zuora had a negative return on equity of 68.59% and a negative net margin of 30.79%. The company had revenue of $103.04 million for the quarter, compared to analyst estimates of $99.70 million. As a group, sell-side analysts expect that Zuora, Inc. will post -0.64 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on ZUO shares. Jefferies Financial Group lifted their price target on Zuora to $10.00 in a research note on Wednesday, March 15th. Canaccord Genuity Group lifted their price target on Zuora from $15.00 to $16.00 and gave the stock a “buy” rating in a research note on Friday, March 3rd. Needham & Company LLC reiterated a “buy” rating and set a $15.00 price objective on shares of Zuora in a research report on Thursday, March 2nd. Finally, Lake Street Capital started coverage on Zuora in a research report on Tuesday, January 31st. They set a “buy” rating and a $11.00 price objective for the company. One investment analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $13.25.

Zuora Profile

(Get Rating)

Zuora, Inc engages in the provision of cloud-based subscription management platform. Its products include Zuora Billing, Zuora Revenue, Zuora CPQ, Zuora Collect AI, and Zuora Analytics. It offers solutions to software, healthcare, education, B2C, and communications industries. The company was founded in 2007 by K.V.