Point72 Hong Kong Ltd Makes New $63,000 Investment in Zuora, Inc. (NYSE:ZUO)

Point72 Hong Kong Ltd purchased a new position in Zuora, Inc. (NYSE:ZUO) in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 7,276 shares of the company’s stock, valued at approximately $63,000.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Point72 Asia Singapore Pte. Ltd. purchased a new stake in Zuora during the second quarter valued at $44,000. CWM LLC lifted its position in shares of Zuora by 25.0% in the 2nd quarter. CWM LLC now owns 7,945 shares of the company’s stock worth $79,000 after purchasing an additional 1,590 shares during the period. Castleview Partners LLC bought a new stake in Zuora during the third quarter valued at about $79,000. Canada Pension Plan Investment Board purchased a new position in Zuora in the second quarter worth $85,000. Finally, Palumbo Wealth Management LLC increased its holdings in shares of Zuora by 11.7% during the third quarter. Palumbo Wealth Management LLC now owns 11,536 shares of the company’s stock valued at $99,000 after acquiring an additional 1,210 shares in the last quarter. Institutional investors own 83.02% of the company’s stock.

Insider Transactions at Zuora

In other news, CFO Todd Mcelhatton sold 51,879 shares of the company’s stock in a transaction dated Thursday, October 3rd. The shares were sold at an average price of $8.34, for a total value of $432,670.86. Following the completion of the sale, the chief financial officer now directly owns 356,875 shares of the company’s stock, valued at approximately $2,976,337.50. This represents a 12.69 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Tien Tzuo sold 63,873 shares of the firm’s stock in a transaction dated Thursday, October 3rd. The stock was sold at an average price of $8.34, for a total value of $532,700.82. Following the transaction, the chief executive officer now directly owns 63,312 shares in the company, valued at approximately $528,022.08. This represents a 50.22 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 221,081 shares of company stock worth $1,857,391. Insiders own 8.62% of the company’s stock.

Zuora Price Performance

Zuora stock opened at $9.94 on Wednesday. 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, Inc. has a fifty-two week low of $7.70 and a fifty-two week high of $10.85. The stock has a 50-day simple moving average of $9.53 and a 200-day simple moving average of $9.30.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on ZUO. Canaccord Genuity Group reissued a “buy” rating and set a $13.00 target price on shares of Zuora in a report on Thursday, August 22nd. Lake Street Capital reissued a “hold” rating and set a $10.00 price objective on shares of Zuora in a research note on Friday, October 18th. Finally, Needham & Company LLC reaffirmed a “hold” rating and set a $15.00 target price on shares of Zuora in a research note on Monday, October 21st. Five research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $11.43.

Zuora Company 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.