State Board of Administration of Florida Retirement System Has $141,000 Stake in Zuora, Inc. (NYSE:ZUO)

State Board of Administration of Florida Retirement System grew its holdings in Zuora, Inc. (NYSE:ZUO – Get Rating) by 9.2% during the fourth quarter, Holdings Channel.com reports. The firm owned 22,173 shares of the company’s stock after buying an additional 1,870 shares during the period. State Board of Administration of Florida Retirement System’s holdings in Zuora were worth $141,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Connor Clark & Lunn Investment Management Ltd. boosted its position in Zuora by 183.1% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 213,409 shares of the company’s stock worth $1,575,000 after purchasing an additional 138,038 shares during the period. Vontobel Holding Ltd. boosted its position in shares of Zuora by 31.9% in the third quarter. Vontobel Holding Ltd. now owns 52,212 shares of the company’s stock valued at $385,000 after acquiring an additional 12,629 shares during the period. Victory Capital Management Inc. bought a new stake in shares of Zuora in the third quarter valued at approximately $103,000. Gagnon Advisors LLC boosted its position in shares of Zuora by 100.0% in the third quarter. Gagnon Advisors LLC now owns 831,074 shares of the company’s stock valued at $6,133,000 after acquiring an additional 415,537 shares during the period. Finally, Potomac Capital Management Inc. bought a new stake in shares of Zuora in the third quarter valued at approximately $354,000. Institutional investors and hedge funds own 69.11% of the company’s stock.

Zuora Stock Performance

Shares of NYSE:ZUO opened at $8.48 on Wednesday. The stock has a market capitalization of $1.15 billion, a P/E ratio of -9.12 and a beta of 1.83. Zuora, Inc. has a 1-year low of $5.45 and a 1-year high of $10.62. The company has a current ratio of 1.66, a quick ratio of 1.66 and a debt-to-equity ratio of 2.17. The business has a 50-day moving average price of $8.63 and a two-hundred day moving average price of $7.94.

Zuora (NYSE:ZUO – Get Rating) last announced its quarterly earnings data on Wednesday, March 1st. The company reported ($0.16) earnings per share for the quarter, topping the consensus estimate of ($0.27) by $0.11. The firm had revenue of $103.04 million during the quarter, compared to analysts’ expectations of $99.70 million. Zuora had a negative return on equity of 68.59% and a negative net margin of 30.79%. Equities analysts predict that Zuora, Inc. will post -0.64 earnings per share for the current year.

Insiders Place Their Bets

In other news, CFO Todd Mcelhatton sold 7,500 shares of the business’s stock in a transaction dated Monday, April 10th. The stock was sold at an average price of $9.00, for a total transaction of $67,500.00. Following the completion of the transaction, the chief financial officer now directly owns 135,775 shares in the company, valued at approximately $1,221,975. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, CEO Tien Tzuo sold 12,500 shares of the business’s stock in a transaction that occurred on Friday, March 31st. The stock was sold at an average price of $9.64, for a total value of $120,500.00. Following the completion of the transaction, the chief executive officer now directly owns 6,352 shares in the company, valued at approximately $61,233.28. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Todd Mcelhatton sold 7,500 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 $67,500.00. Following the completion of the transaction, the chief financial officer now owns 135,775 shares of the company’s stock, valued at $1,221,975. The disclosure for this sale can be found here. In the last three months, insiders sold 86,606 shares of company stock valued at $803,526. 9.25% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

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

Zuora Profile

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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.