Summit Global Investments Sells 60,199 Shares of Zuora, Inc. (NYSE:ZUO)

Summit Global Investments cut its holdings in Zuora, Inc. (NYSE:ZUO) by 28.7% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 149,534 shares of the company’s stock after selling 60,199 shares during the quarter. Summit Global Investments owned about 0.10% of Zuora worth $1,406,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of ZUO. Allspring Global Investments Holdings LLC acquired a new position in shares of Zuora in the 3rd quarter valued at approximately $25,000. DekaBank Deutsche Girozentrale acquired a new position in Zuora during the 3rd quarter worth approximately $25,000. Sherbrooke Park Advisers LLC acquired a new position in Zuora during the 3rd quarter worth approximately $88,000. MQS Management LLC acquired a new position in Zuora during the 3rd quarter worth approximately $129,000. Finally, Cornerstone Investment Partners LLC acquired a new stake in shares of Zuora in the 4th quarter valued at approximately $166,000. 83.02% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

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

Zuora Price Performance

Shares of NYSE ZUO traded up $0.31 during mid-day trading on Friday, reaching $10.08. The company had a trading volume of 1,326,969 shares, compared to its average volume of 2,305,458. The company has a quick ratio of 2.43, a current ratio of 2.43 and a debt-to-equity ratio of 2.69. Zuora, Inc. has a one year low of $7.05 and a one year high of $12.12. The business’s 50-day simple moving average is $8.96 and its 200 day simple moving average is $8.64.

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

Insider Buying and Selling

In related news, CEO Tien Tzuo sold 81,635 shares of the firm’s stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $8.87, for a total value of $724,102.45. Following the sale, the chief executive officer now directly owns 6,352 shares of the company’s stock, valued at $56,342.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In related news, insider Andrew M. Cohen sold 13,319 shares of the firm’s stock in a transaction dated Wednesday, April 17th. The stock was sold at an average price of $10.00, for a total value of $133,190.00. Following the sale, the insider now directly owns 120,785 shares of the company’s stock, valued at $1,207,850. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Tien Tzuo sold 81,635 shares of the firm’s stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $8.87, for a total value of $724,102.45. Following the completion of the sale, the chief executive officer now directly owns 6,352 shares in the company, valued at $56,342.24. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 481,854 shares of company stock worth $4,393,048. Company insiders own 9.25% of the company’s stock.

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.