Zuora (NYSE:ZUO) Sees Unusually-High Trading Volume

Zuora, Inc. (NYSE:ZUO) saw unusually-high trading volume on Wednesday . Approximately 7,402,661 shares traded hands during trading, an increase of 420% from the previous session’s volume of 1,422,834 shares.The stock last traded at $9.71 and had previously closed at $8.47.

Wall Street Analyst Weigh In

ZUO has been the topic of a number of recent research reports. Robert W. Baird cut their price target on shares of Zuora from $10.00 to $8.00 and set a “neutral” rating on the stock in a research note on Thursday, February 29th. Canaccord Genuity Group cut their target price on shares of Zuora from $16.00 to $13.00 and set a “buy” rating on the stock in a research note on Thursday, February 29th. Needham & Company LLC restated a “buy” rating and set a $15.00 target price on shares of Zuora in a research note on Thursday, February 29th. Finally, The Goldman Sachs Group upgraded shares of Zuora from a “neutral” rating to a “buy” rating and upped their target price for the stock from $10.00 to $12.00 in a research note on Tuesday, January 23rd.

Zuora Stock Performance

The company has a current ratio of 2.43, a quick ratio of 2.43 and a debt-to-equity ratio of 2.69. The business’s fifty day simple moving average is $8.68 and its two-hundred day simple moving average is $8.51.

Zuora (NYSE:ZUO) last released its quarterly earnings data on Wednesday, February 28th. The company reported ($0.04) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.14) by $0.10. Zuora had a negative net margin of 15.80% and a negative return on equity of 46.38%. The company had revenue of $110.67 million for the quarter, compared to analysts’ expectations of $110.80 million. As a group, analysts predict that Zuora, Inc. will post -0.15 earnings per share for the current year.

Insiders Place Their Bets

In other news, CEO Tien Tzuo sold 81,635 shares of the firm’s stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $8.87, for a total transaction of $724,102.45. Following the transaction, the chief executive officer now directly owns 6,352 shares in the company, valued at $56,342.24. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, CEO Tien Tzuo sold 81,635 shares of Zuora stock in a transaction on Monday, April 1st. The shares were sold at an average price of $8.87, for a total value of $724,102.45. Following the transaction, the chief executive officer now directly owns 6,352 shares in the company, valued at approximately $56,342.24. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Andrew M. Cohen sold 11,864 shares of Zuora stock in a transaction on Wednesday, April 3rd. The shares were sold at an average price of $8.61, for a total transaction of $102,149.04. Following the completion of the transaction, the insider now owns 137,898 shares in the company, valued at $1,187,301.78. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 224,952 shares of company stock valued at $1,951,070. 9.25% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Zuora

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. grew its position in Zuora by 3.8% in the 4th quarter. Vanguard Group Inc. now owns 16,344,929 shares of the company’s stock valued at $153,642,000 after buying an additional 602,866 shares during the last quarter. BlackRock Inc. boosted its position in shares of Zuora by 3.2% during the 2nd quarter. BlackRock Inc. now owns 11,030,517 shares of the company’s stock worth $121,005,000 after purchasing an additional 343,054 shares in the last quarter. Baillie Gifford & Co. boosted its position in shares of Zuora by 4.8% during the 4th quarter. Baillie Gifford & Co. now owns 5,118,254 shares of the company’s stock worth $32,552,000 after purchasing an additional 233,022 shares in the last quarter. The Manufacturers Life Insurance Company boosted its position in shares of Zuora by 13.0% during the 4th quarter. The Manufacturers Life Insurance Company now owns 3,740,046 shares of the company’s stock worth $35,156,000 after purchasing an additional 429,705 shares in the last quarter. Finally, The Manufacturers Life Insurance Company boosted its position in shares of Zuora by 14.0% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 3,310,341 shares of the company’s stock worth $27,277,000 after purchasing an additional 406,841 shares in the last quarter. 83.02% of the stock is currently owned by hedge funds and other institutional investors.

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.