Zuora (NYSE:ZUO) Sees Large Volume Increase – Here’s What Happened

Zuora, Inc. (NYSE:ZUO) shares saw strong trading volume on Thursday . 4,368,767 shares were traded during trading, an increase of 135% from the previous session’s volume of 1,860,993 shares.The stock last traded at $10.01 and had previously closed at $9.99.

Analyst Ratings Changes

Several research analysts recently commented on the stock. Needham & Company LLC restated a “hold” rating and set a $15.00 target price on shares of Zuora in a report on Monday, October 21st. Lake Street Capital restated a “hold” rating and set a $10.00 target price on shares of Zuora in a report on Friday, October 18th. Five research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $11.33.

Zuora Price Performance

The company has a debt-to-equity ratio of 2.00, a current ratio of 2.62 and a quick ratio of 2.62. The company’s 50-day simple moving average is $9.96 and its 200-day simple moving average is $9.44. The stock has a market capitalization of $1.54 billion, a P/E ratio of -20.44 and a beta of 1.67.

Insiders Place Their Bets

In other Zuora news, CFO Todd Mcelhatton sold 50,373 shares of the company’s stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $9.93, for a total transaction of $500,203.89. Following the sale, the chief financial officer now directly owns 404,634 shares of the company’s stock, valued at approximately $4,018,015.62. This represents a 11.07 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Tien Tzuo sold 48,569 shares of the company’s stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $9.93, for a total transaction of $482,290.17. Following the sale, the chief executive officer now directly owns 110,576 shares in the company, valued at $1,098,019.68. This trade represents a 30.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 207,868 shares of company stock valued at $2,064,908. 8.62% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Zuora

Large investors have recently modified their holdings of the stock. Vestcor Inc bought a new position in shares of Zuora in the fourth quarter valued at about $40,000. SBI Securities Co. Ltd. acquired a new position in shares of Zuora in the fourth quarter valued at about $41,000. Quarry LP grew its stake in shares of Zuora by 504.9% in the third quarter. Quarry LP now owns 6,164 shares of the company’s stock valued at $53,000 after acquiring an additional 5,145 shares in the last quarter. Point72 Hong Kong Ltd acquired a new position in shares of Zuora in the third quarter valued at about $63,000. Finally, Castleview Partners LLC acquired a new position in shares of Zuora in the third quarter valued at about $79,000. 83.02% of the stock is owned by 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.