State of New Jersey Common Pension Fund D trimmed its position in shares of Zuora, Inc. (NYSE:ZUO – Free Report) by 8.4% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 266,839 shares of the company’s stock after selling 24,627 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in Zuora were worth $2,636,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds have also recently bought and sold shares of the company. First Trust Advisors LP boosted its holdings in shares of Zuora by 1,567.1% in the 1st quarter. First Trust Advisors LP now owns 2,204,905 shares of the company’s stock worth $33,029,000 after buying an additional 2,072,643 shares during the last quarter. Solel Partners LP purchased a new position in shares of Zuora in the 4th quarter worth about $8,524,000. Gagnon Securities LLC purchased a new position in shares of Zuora in the 1st quarter worth about $10,646,000. Millennium Management LLC boosted its holdings in shares of Zuora by 63.4% in the 2nd quarter. Millennium Management LLC now owns 2,342,112 shares of the company’s stock worth $20,962,000 after buying an additional 908,890 shares during the last quarter. Finally, The Manufacturers Life Insurance Company raised its stake in Zuora by 81.5% in the 1st quarter. The Manufacturers Life Insurance Company now owns 1,866,739 shares of the company’s stock valued at $27,964,000 after acquiring an additional 838,243 shares during the period. 72.02% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
ZUO has been the topic of a number of research reports. Robert W. Baird initiated coverage on Zuora in a research note on Wednesday, July 12th. They issued a “neutral” rating and a $12.00 price objective on the stock. Lake Street Capital boosted their price objective on Zuora from $11.00 to $12.00 in a research note on Thursday, May 25th. Two analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $12.38.
Zuora Trading Up 2.1 %
Zuora (NYSE:ZUO – Get Free Report) last announced its quarterly earnings results on Wednesday, May 24th. The company reported ($0.13) earnings per share for the quarter, beating the consensus estimate of ($0.18) by $0.05. Zuora had a negative return on equity of 72.78% and a negative net margin of 29.09%. The firm had revenue of $103.10 million for the quarter, compared to analysts’ expectations of $102.00 million. On average, equities analysts forecast that Zuora, Inc. will post -0.57 EPS for the current fiscal year.
Insider Buying and Selling
In related news, insider Andrew M. Cohen sold 11,611 shares of the company’s stock in a transaction that occurred on Wednesday, July 5th. The shares were sold at an average price of $10.08, for a total value of $117,038.88. Following the transaction, the insider now directly owns 75,920 shares in the company, valued at $765,273.60. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, insider Andrew M. Cohen sold 11,611 shares of the company’s stock in a transaction that occurred on Wednesday, July 5th. The shares were sold at an average price of $10.08, for a total value of $117,038.88. Following the transaction, the insider now directly owns 75,920 shares in the company, valued at $765,273.60. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CRO Robert J. Traube sold 9,667 shares of the company’s stock in a transaction that occurred on Tuesday, May 30th. The stock was sold at an average price of $10.56, for a total transaction of $102,083.52. Following the completion of the transaction, the executive now owns 27,225 shares in the company, valued at $287,496. The disclosure for this sale can be found here. Over the last three months, insiders have sold 157,068 shares of company stock worth $1,605,535. Insiders own 9.25% of the company’s stock.
About Zuora
Zuora, Inc, together with its subsidiaries, provides cloud-based subscription management platform that enables companies in various industries to launch, manage, and transform into a subscription business. The company offers Zuora platform that acts as an orchestration engine that allows customers quote-to-cash and revenue operations; and Zuora Billing that helps customers to set payment terms, manage hierarchical billing relationships, consolidate invoicing across multiple subscriptions, and tax transactions.
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