Engineers Gate Manager LP Buys 97,451 Shares of Zuora, Inc. (NYSE:ZUO)

Engineers Gate Manager LP grew its stake in shares of Zuora, Inc. (NYSE:ZUOGet Rating) by 104.0% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 191,196 shares of the company’s stock after buying an additional 97,451 shares during the period. Engineers Gate Manager LP’s holdings in Zuora were worth $2,864,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Archon Capital Management LLC boosted its holdings in Zuora by 10.6% during the first quarter. Archon Capital Management LLC now owns 2,654,399 shares of the company’s stock worth $39,763,000 after buying an additional 254,858 shares during the last quarter. Graham Capital Management L.P. bought a new position in Zuora during the first quarter worth about $1,375,000. Invesco Ltd. boosted its holdings in Zuora by 5.6% during the first quarter. Invesco Ltd. now owns 67,373 shares of the company’s stock worth $1,009,000 after buying an additional 3,583 shares during the last quarter. PFS Investments Inc. boosted its holdings in Zuora by 15.1% during the first quarter. PFS Investments Inc. now owns 81,012 shares of the company’s stock worth $1,214,000 after buying an additional 10,606 shares during the last quarter. Finally, Hsbc Holdings PLC boosted its holdings in Zuora by 5.9% during the first quarter. Hsbc Holdings PLC now owns 26,146 shares of the company’s stock worth $396,000 after buying an additional 1,447 shares during the last quarter. Institutional investors own 86.37% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on the company. Canaccord Genuity Group dropped their price target on Zuora from $23.00 to $20.00 and set a “buy” rating on the stock in a research report on Thursday, August 25th. Needham & Company LLC dropped their price target on Zuora from $24.00 to $15.00 and set a “buy” rating on the stock in a research report on Thursday, August 25th. Finally, Craig Hallum dropped their price target on Zuora from $22.00 to $16.00 in a research report on Thursday, August 25th. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat, Zuora currently has a consensus rating of “Moderate Buy” and a consensus price target of $19.17.

Insider Activity at Zuora

In related news, CFO Todd Mcelhatton sold 18,136 shares of Zuora stock in a transaction that occurred on Friday, July 1st. The stock was sold at an average price of $8.93, for a total value of $161,954.48. Following the sale, the chief financial officer now owns 89,185 shares of the company’s stock, valued at approximately $796,422.05. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other Zuora news, CRO Robert J. Traube sold 21,626 shares of the business’s stock in a transaction that occurred on Friday, July 1st. The stock was sold at an average price of $8.93, for a total transaction of $193,120.18. Following the transaction, the executive now owns 59,223 shares of the company’s stock, valued at approximately $528,861.39. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Todd Mcelhatton sold 18,136 shares of the business’s stock in a transaction that occurred on Friday, July 1st. The stock was sold at an average price of $8.93, for a total value of $161,954.48. Following the transaction, the chief financial officer now directly owns 89,185 shares in the company, valued at approximately $796,422.05. The disclosure for this sale can be found here. In the last quarter, insiders have sold 93,483 shares of company stock valued at $840,478. 9.08% of the stock is owned by insiders.

Zuora Trading Up 5.2 %

Shares of Zuora stock opened at $8.33 on Monday. The business’s 50 day simple moving average is $8.89 and its 200 day simple moving average is $10.92. Zuora, Inc. has a 52-week low of $7.41 and a 52-week high of $23.25. The company has a debt-to-equity ratio of 1.07, a current ratio of 2.57 and a quick ratio of 2.57.

Zuora (NYSE:ZUOGet Rating) last announced its earnings results on Wednesday, August 24th. The company reported ($0.03) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.05) by $0.02. Zuora had a negative return on equity of 56.71% and a negative net margin of 29.89%. The business had revenue of $98.80 million for the quarter, compared to analyst estimates of $97.54 million. During the same quarter last year, the firm earned ($0.19) EPS. Zuora’s revenue for the quarter was up 14.2% compared to the same quarter last year. On average, equities research analysts forecast that Zuora, Inc. will post -0.96 EPS for the current fiscal year.

About Zuora

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Zuora, Inc, together with its subsidiaries, provides cloud-based software on a subscription basis that enables companies in various industries to launch, manage, and transform into a subscription business. The company offers Zuora Central platform that acts as an orchestration engine that allows customers quote-to-revenue operations.

Further Reading

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Institutional Ownership by Quarter for Zuora (NYSE:ZUO)

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