Zuora, Inc. (NYSE:ZUO) is Scalar Gauge Management LLC’s Largest Position

Scalar Gauge Management LLC raised its holdings in shares of Zuora, Inc. (NYSE:ZUO) by 27.4% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 6,484,599 shares of the company’s stock after acquiring an additional 1,393,327 shares during the period. Zuora comprises approximately 29.7% of Scalar Gauge Management LLC’s portfolio, making the stock its biggest holding. Scalar Gauge Management LLC’s holdings in Zuora were worth $55,897,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Point72 Asia Singapore Pte. Ltd. purchased a new position in Zuora in the 2nd quarter worth approximately $44,000. CWM LLC grew its holdings in shares of Zuora by 25.0% in the second quarter. CWM LLC now owns 7,945 shares of the company’s stock worth $79,000 after purchasing an additional 1,590 shares during the last quarter. Castleview Partners LLC bought a new stake in Zuora during the 3rd quarter valued at $79,000. Canada Pension Plan Investment Board purchased a new stake in Zuora during the 2nd quarter valued at $85,000. Finally, Palumbo Wealth Management LLC grew its holdings in Zuora by 11.7% in the 3rd quarter. Palumbo Wealth Management LLC now owns 11,536 shares of the company’s stock worth $99,000 after acquiring an additional 1,210 shares during the last quarter. 83.02% of the stock is owned by hedge funds and other institutional investors.

Zuora Stock Performance

Shares of ZUO opened at $9.93 on Friday. The company has a 50-day simple moving average of $9.48 and a two-hundred day simple moving average of $9.32. The company has a debt-to-equity ratio of 1.90, a current ratio of 2.77 and a quick ratio of 2.77. The firm has a market capitalization of $1.50 billion, a PE ratio of -31.03 and a beta of 1.70. Zuora, Inc. has a one year low of $7.70 and a one year high of $10.85.

Wall Street Analysts Forecast Growth

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

Insider Activity

In other Zuora news, CRO Robert J. Traube sold 62,707 shares of Zuora stock in a transaction on Thursday, October 3rd. The stock was sold at an average price of $8.34, for a total transaction of $522,976.38. Following the completion of the transaction, the executive now owns 109,704 shares in the company, valued at approximately $914,931.36. The trade was a 36.37 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Peter Hirsch sold 18,855 shares of the stock in a transaction on Tuesday, October 15th. The stock was sold at an average price of $9.06, for a total value of $170,826.30. Following the completion of the sale, the insider now directly owns 19,279 shares in the company, valued at approximately $174,667.74. This represents a 49.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 221,081 shares of company stock worth $1,857,391 in the last quarter. 8.62% of the stock is owned by company insiders.

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.