Palumbo Wealth Management LLC Increases Stock Holdings in Zuora, Inc. (NYSE:ZUO)

Palumbo Wealth Management LLC increased its holdings in shares of Zuora, Inc. (NYSE:ZUO) by 11.7% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 11,536 shares of the company’s stock after buying an additional 1,210 shares during the quarter. Palumbo Wealth Management LLC’s holdings in Zuora were worth $99,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Vanguard Group Inc. grew its stake in Zuora by 5.6% during 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. Scalar Gauge Management LLC grew its stake in Zuora by 35.4% during the 2nd quarter. Scalar Gauge Management LLC now owns 5,091,272 shares of the company’s stock valued at $50,556,000 after purchasing an additional 1,332,343 shares during the last quarter. Solel Partners LP grew its stake in Zuora by 13.5% during the 2nd quarter. Solel Partners LP now owns 4,058,308 shares of the company’s stock valued at $40,299,000 after purchasing an additional 483,445 shares during the last quarter. Bares Capital Management Inc. lifted its holdings in shares of Zuora by 41.4% in the 1st quarter. Bares Capital Management Inc. now owns 1,746,292 shares of the company’s stock valued at $15,926,000 after buying an additional 511,292 shares during the period. Finally, 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 valued at $9,787,000 after buying an additional 212,200 shares during the period. 83.02% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Zuora news, CEO Tien Tzuo sold 63,873 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 transaction of $532,700.82. Following the transaction, the chief executive officer now directly owns 63,312 shares in the company, valued at $528,022.08. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, CFO Todd Mcelhatton sold 51,879 shares of the 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 sale, the chief financial officer now directly owns 356,875 shares in the company, valued at approximately $2,976,337.50. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Tien Tzuo sold 63,873 shares of the firm’s stock in a transaction on 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 in the company, valued at approximately $528,022.08. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 221,081 shares of company stock worth $1,857,391. Company insiders own 8.62% of the company’s stock.

Zuora Price Performance

Shares of Zuora stock traded down $0.01 during mid-day trading on Thursday, reaching $9.91. 213,467 shares of the stock traded hands, compared to its average volume of 1,707,656. The business has a 50-day moving average of $8.96 and a 200 day moving average of $9.30. Zuora, Inc. has a fifty-two week low of $7.05 and a fifty-two week high of $10.85. The stock has a market capitalization of $1.50 billion, a PE ratio of -23.07 and a beta of 1.72. The company has a quick ratio of 2.77, a current ratio of 2.77 and a debt-to-equity ratio of 1.90.

Zuora (NYSE:ZUO) last announced its earnings results on Wednesday, August 21st. The company reported $0.19 EPS for the quarter, beating analysts’ consensus estimates of $0.10 by $0.09. Zuora had a negative return on equity of 12.54% and a negative net margin of 10.60%. The business had revenue of $115.40 million during the quarter, compared to analysts’ expectations of $112.63 million. During the same quarter in the prior year, the firm earned ($0.12) earnings per share. The business’s revenue was up 6.8% compared to the same quarter last year.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the company. Canaccord Genuity Group reissued a “buy” rating and issued a $13.00 price objective on shares of Zuora in a report on Thursday, August 22nd. Craig Hallum cut Zuora from a “buy” rating to a “hold” rating and reduced their price target for the stock from $12.00 to $10.00 in a report on Monday, July 8th. Lake Street Capital reaffirmed a “hold” rating and issued a $10.00 price target on shares of Zuora in a report on Friday, October 18th. Finally, Needham & Company LLC reaffirmed a “hold” rating and issued a $15.00 price target on shares of Zuora in a report on Monday, October 21st. Five research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $11.43.

Zuora Company 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.