The Manufacturers Life Insurance Company Decreases Stock Holdings in Zuora, Inc. (NYSE:ZUO)

The Manufacturers Life Insurance Company lowered its holdings in shares of Zuora, Inc. (NYSE:ZUO) by 0.1% in the 3rd quarter, Holdings Channel.com reports. The firm owned 3,460,173 shares of the company’s stock after selling 2,725 shares during the quarter. The Manufacturers Life Insurance Company’s holdings in Zuora were worth $29,827,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Scalar Gauge Management LLC lifted its holdings in shares of Zuora by 35.4% in the 2nd quarter. Scalar Gauge Management LLC now owns 5,091,272 shares of the company’s stock valued at $50,556,000 after acquiring an additional 1,332,343 shares during the last quarter. Vanguard Group Inc. lifted its stake in shares of Zuora by 5.6% in the 1st quarter. Vanguard Group Inc. now owns 17,262,494 shares of the company’s stock valued at $157,434,000 after purchasing an additional 917,565 shares during the last quarter. Solel Partners LP boosted its holdings in shares of Zuora by 13.5% in the 2nd quarter. Solel Partners LP now owns 4,058,308 shares of the company’s stock worth $40,299,000 after purchasing an additional 483,445 shares during the period. Divisar Capital Management LLC bought a new position in shares of Zuora during the 2nd quarter valued at approximately $4,575,000. Finally, BDF Gestion purchased a new stake in Zuora during the 2nd quarter valued at $3,426,000. 83.02% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Zuora

In other news, CFO Todd Mcelhatton sold 51,879 shares of the firm’s stock in a transaction on 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. This trade represents a 12.69 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Tien Tzuo sold 63,873 shares of Zuora stock in a transaction dated Thursday, October 3rd. The shares were sold at an average price of $8.34, for a total value of $532,700.82. Following the completion of the sale, the chief executive officer now owns 63,312 shares of the company’s stock, valued at $528,022.08. The trade was a 50.22 % 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 valued at $1,857,391 in the last three months. Company insiders own 8.62% of the company’s stock.

Zuora Stock Up 0.1 %

Shares of ZUO opened at $9.93 on Friday. The firm has a market capitalization of $1.50 billion, a P/E ratio of -31.03 and a beta of 1.70. Zuora, Inc. has a 12-month low of $7.70 and a 12-month high of $10.85. The firm has a fifty day moving average price of $9.48 and a 200-day moving average price of $9.32. The company has a current ratio of 2.77, a quick ratio of 2.77 and a debt-to-equity ratio of 1.90.

Wall Street Analysts Forecast Growth

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

About Zuora

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.