First Trust Advisors LP cut its stake in Zuora Inc (NYSE:ZUO) by 5.9% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 88,438 shares of the company’s stock after selling 5,586 shares during the quarter. First Trust Advisors LP’s holdings in Zuora were worth $2,044,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds also recently modified their holdings of ZUO. Flagship Harbor Advisors LLC bought a new stake in Zuora in the second quarter worth $133,000. Tower Research Capital LLC TRC bought a new stake in Zuora in the second quarter worth $147,000. Cubist Systematic Strategies LLC bought a new stake in Zuora in the second quarter worth $308,000. Cornerstone Wealth Management LLC bought a new stake in Zuora in the second quarter worth $335,000. Finally, Raymond James & Associates bought a new stake in Zuora in the second quarter worth $546,000. Institutional investors own 13.59% of the company’s stock.
NYSE:ZUO opened at $19.03 on Monday. Zuora Inc has a twelve month low of $16.00 and a twelve month high of $37.78. The company has a debt-to-equity ratio of 0.07, a quick ratio of 2.03 and a current ratio of 2.03.
ZUO has been the subject of several research analyst reports. Needham & Company LLC decreased their target price on Zuora from $38.00 to $27.00 and set a “buy” rating for the company in a research report on Friday. Canaccord Genuity lifted their target price on Zuora from $26.00 to $28.00 and gave the stock a “hold” rating in a research report on Friday, August 31st. Morgan Stanley lifted their target price on Zuora from $24.00 to $26.00 and gave the stock an “equal weight” rating in a research report on Friday, August 31st. FBN Securities initiated coverage on Zuora in a research report on Tuesday, October 16th. They set an “outperform” rating for the company. Finally, Jefferies Financial Group lifted their target price on Zuora to $35.00 and gave the stock a “buy” rating in a research report on Friday, August 31st. Four analysts have rated the stock with a hold rating and three have given a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average price target of $27.00.
In other news, SVP Jennifer Pileggi sold 10,000 shares of Zuora stock in a transaction on Monday, October 8th. The stock was sold at an average price of $20.38, for a total transaction of $203,800.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Michelangelo Volpi sold 28,780 shares of Zuora stock in a transaction on Wednesday, September 5th. The stock was sold at an average price of $26.30, for a total value of $756,914.00. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 579,238 shares of company stock valued at $14,222,367.
ILLEGAL ACTIVITY NOTICE: “First Trust Advisors LP Has $2.04 Million Position in Zuora Inc (ZUO)” was first posted by Community Financial News and is the property of of Community Financial News. If you are reading this report on another domain, it was illegally stolen and reposted in violation of U.S. and international trademark & copyright laws. The original version of this report can be read at https://www.com-unik.info/2018/12/03/first-trust-advisors-lp-has-2-04-million-position-in-zuora-inc-zuo.html.
Zuora Company Profile
Zuora, Inc provides cloud-based software on a subscription basis that enables companies in various industries to launch, manage, and transform into a subscription business. The company offers Zuora Central platform that acts as an intelligent subscription management hub that automates the subscription order-to-cash process, including quoting, billing, collections, analytics, and revenue recognition.
Featured Story: Can systematic risk be avoided?
Want to see what other hedge funds are holding ZUO? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Zuora Inc (NYSE:ZUO).
Receive News & Ratings for Zuora Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Zuora and related companies with MarketBeat.com's FREE daily email newsletter.