Clearline Capital LP Buys New Shares in Zuora, Inc. (NYSE:ZUO)

Clearline Capital LP purchased a new position in shares of Zuora, Inc. (NYSE:ZUO) in the 3rd quarter, HoldingsChannel.com reports. The institutional investor purchased 128,984 shares of the company’s stock, valued at approximately $1,112,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Scalar Gauge Management LLC raised its holdings in shares of Zuora by 27.4% during the 3rd quarter. Scalar Gauge Management LLC now owns 6,484,599 shares of the company’s stock valued at $55,897,000 after buying an additional 1,393,327 shares in the last quarter. Solel Partners LP raised its stake in shares of Zuora by 13.5% during the second quarter. Solel Partners LP now owns 4,058,308 shares of the company’s stock worth $40,299,000 after acquiring an additional 483,445 shares in the last quarter. Charles Schwab Investment Management Inc. raised its stake in shares of Zuora by 0.4% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,153,372 shares of the company’s stock worth $9,942,000 after acquiring an additional 4,432 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund lifted its holdings in shares of Zuora by 27.4% in the 2nd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 985,632 shares of the company’s stock worth $9,787,000 after acquiring an additional 212,200 shares during the last quarter. Finally, Panagora Asset Management Inc. boosted its stake in shares of Zuora by 3.6% in the 2nd quarter. Panagora Asset Management Inc. now owns 822,830 shares of the company’s stock valued at $8,171,000 after purchasing an additional 28,865 shares in the last quarter. 83.02% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms have weighed in on ZUO. Lake Street Capital reissued a “hold” rating and issued a $10.00 price target on shares of Zuora in a research note on Friday, October 18th. Needham & Company LLC reiterated a “hold” rating and issued a $15.00 price objective on shares of Zuora in a report on Monday, October 21st. Finally, Canaccord Genuity Group restated a “buy” rating and set a $13.00 target price on shares of Zuora in a report on Thursday, August 22nd. Five equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $11.43.

Zuora Price Performance

Shares of ZUO stock opened at $9.93 on Monday. 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 fifty-two week low of $7.70 and a fifty-two week high of $10.85. The firm has a market cap of $1.50 billion, a P/E ratio of -31.03 and a beta of 1.67. The business’s 50 day moving average price is $9.48 and its 200-day moving average price is $9.30.

Insider Activity at Zuora

In related news, CEO Tien Tzuo sold 63,873 shares of Zuora stock in a transaction that occurred on Thursday, October 3rd. The stock was sold at an average price of $8.34, for a total transaction 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. The trade was a 50.22 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Todd Mcelhatton sold 51,879 shares of the company’s stock in a transaction on Thursday, October 3rd. The stock was sold at an average price of $8.34, for a total value of $432,670.86. Following the completion of the sale, the chief financial officer now directly owns 356,875 shares in the company, valued at approximately $2,976,337.50. The trade was a 12.69 % decrease in their ownership of the stock. 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 quarter. Corporate insiders own 8.62% of the company’s stock.

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.