Zuora, Inc. (NYSE:ZUO) Shares Bought by Needham Investment Management LLC

Needham Investment Management LLC increased its holdings in Zuora, Inc. (NYSE:ZUO) by 6.8% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 825,000 shares of the company’s stock after acquiring an additional 52,500 shares during the quarter. Needham Investment Management LLC owned approximately 0.54% of Zuora worth $7,112,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently bought and sold shares of ZUO. Palumbo Wealth Management LLC increased its position in Zuora by 11.7% in the 3rd quarter. Palumbo Wealth Management LLC now owns 11,536 shares of the company’s stock valued at $99,000 after acquiring an additional 1,210 shares during the period. Arizona State Retirement System grew its position in Zuora by 4.0% during the 2nd quarter. Arizona State Retirement System now owns 36,648 shares of the company’s stock worth $364,000 after purchasing an additional 1,402 shares in the last quarter. CWM LLC raised its stake in Zuora by 25.0% during the 2nd 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 period. MetLife Investment Management LLC lifted its holdings in shares of Zuora by 3.1% in the third quarter. MetLife Investment Management LLC now owns 76,873 shares of the company’s stock valued at $663,000 after purchasing an additional 2,303 shares in the last quarter. Finally, Diversified Trust Co boosted its position in Zuora by 6.9% during the 3rd quarter. Diversified Trust Co now owns 41,564 shares of the company’s stock worth $358,000 after acquiring an additional 2,692 shares during the period. Hedge funds and other institutional investors own 83.02% of the company’s stock.

Insider Buying and Selling at Zuora

In other Zuora news, CEO Tien Tzuo sold 63,873 shares of the firm’s stock in a transaction on Thursday, October 3rd. The shares were sold at an average price of $8.34, for a total value of $532,700.82. Following the sale, the chief executive officer now directly owns 63,312 shares in the company, valued at $528,022.08. This trade represents a 50.22 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Todd Mcelhatton sold 51,879 shares of the business’s stock in a transaction dated Thursday, October 3rd. The stock was sold at an average price of $8.34, for a total transaction of $432,670.86. Following the transaction, the chief financial officer now owns 356,875 shares in the company, valued at approximately $2,976,337.50. The trade was a 12.69 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 221,081 shares of company stock worth $1,857,391 over the last 90 days. Insiders own 8.62% of the company’s stock.

Zuora Stock Performance

Shares of ZUO remained flat at $9.94 during trading hours on Tuesday. The stock had a trading volume of 94,497 shares, compared to its average volume of 1,825,832. The company’s 50 day simple moving average is $9.51 and its 200 day simple moving average is $9.30. 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 $7.70 and a 52 week high of $10.85.

Wall Street Analyst Weigh In

A number of brokerages recently commented on ZUO. Needham & Company LLC reaffirmed a “hold” rating and set a $15.00 price objective on shares of Zuora in a research report on Monday, October 21st. Lake Street Capital restated a “hold” rating and set a $10.00 price target on shares of Zuora in a report on Friday, October 18th. Finally, Canaccord Genuity Group reiterated a “buy” rating and set a $13.00 price objective on shares of Zuora in a report on Thursday, August 22nd. Five analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $11.43.

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.