PDT Partners LLC Lowers Stock Position in Zuora, Inc. (NYSE:ZUO)

PDT Partners LLC lowered its position in shares of Zuora, Inc. (NYSE:ZUO) by 20.5% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 33,323 shares of the company’s stock after selling 8,600 shares during the quarter. PDT Partners LLC’s holdings in Zuora were worth $287,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. Scalar Gauge Management LLC lifted its position in Zuora by 35.4% during the second quarter. Scalar Gauge Management LLC now owns 5,091,272 shares of the company’s stock valued at $50,556,000 after buying an additional 1,332,343 shares during the period. Solel Partners LP raised its position 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 last quarter. Charles Schwab Investment Management Inc. raised its position in shares of Zuora by 0.4% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,153,372 shares of the company’s stock worth $9,942,000 after purchasing an additional 4,432 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund raised its position 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 purchasing an additional 212,200 shares during the last quarter. Finally, Panagora Asset Management Inc. raised its position 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 worth $8,171,000 after purchasing an additional 28,865 shares during the last quarter. Hedge funds and other institutional investors own 83.02% of the company’s stock.

Insider Transactions at Zuora

In related news, insider Andrew M. Cohen sold 20,773 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 transaction of $173,246.82. Following the sale, the insider now owns 172,033 shares in the company, valued at approximately $1,434,755.22. This represents a 10.77 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Peter Hirsch sold 18,855 shares of the stock in a transaction on Tuesday, October 15th. The shares were sold at an average price of $9.06, for a total value of $170,826.30. Following the sale, the insider now owns 19,279 shares in the company, valued at $174,667.74. The trade was a 49.44 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 221,081 shares of company stock valued at $1,857,391 in the last ninety days. Corporate insiders own 8.62% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on ZUO. Needham & Company LLC reissued a “hold” rating and issued a $15.00 target price on shares of Zuora in a research report on Monday, October 21st. Canaccord Genuity Group reissued a “buy” rating and issued a $13.00 target price on shares of Zuora in a research report on Thursday, August 22nd. Finally, Lake Street Capital reissued a “hold” rating and issued a $10.00 target price 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 stock. According to MarketBeat.com, Zuora currently has an average rating of “Hold” and an average price target of $11.43.

Zuora Price Performance

Shares of ZUO opened at $9.94 on Wednesday. The stock has a market capitalization of $1.51 billion, a price-to-earnings ratio of -31.06 and a beta of 1.66. Zuora, Inc. has a 1 year low of $7.70 and a 1 year high of $10.85. The business’s 50 day simple moving average is $9.53 and its 200-day simple moving average is $9.30. The company has a debt-to-equity ratio of 1.90, a current ratio of 2.77 and a quick ratio of 2.77.

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.