Verition Fund Management LLC Has $376,000 Position in Zuora, Inc. (NYSE:ZUO)

Verition Fund Management LLC raised its position in Zuora, Inc. (NYSE:ZUO – Get Rating) by 211.6% during the third quarter, according to its most recent 13F filing with the SEC. The fund owned 50,938 shares of the company’s stock after buying an additional 34,592 shares during the period. Verition Fund Management LLC’s holdings in Zuora were worth $376,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently bought and sold shares of ZUO. BlackRock Inc. raised its position in shares of Zuora by 1.5% during the first quarter. BlackRock Inc. now owns 8,274,224 shares of the company’s stock worth $123,948,000 after acquiring an additional 125,301 shares during the last quarter. Baillie Gifford & Co. raised its holdings in Zuora by 4.2% during the 3rd quarter. Baillie Gifford & Co. now owns 4,885,232 shares of the company’s stock worth $36,053,000 after purchasing an additional 197,661 shares during the last quarter. The Manufacturers Life Insurance Company lifted its position in Zuora by 17.2% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 3,174,535 shares of the company’s stock valued at $23,428,000 after purchasing an additional 465,011 shares during the period. State Street Corp lifted its position in Zuora by 1.6% during the 2nd quarter. State Street Corp now owns 2,433,911 shares of the company’s stock valued at $21,784,000 after purchasing an additional 37,913 shares during the period. Finally, Millennium Management LLC boosted its stake in shares of Zuora by 63.4% in the 2nd quarter. Millennium Management LLC now owns 2,342,112 shares of the company’s stock valued at $20,962,000 after purchasing an additional 908,890 shares during the last quarter. 69.11% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, CRO Robert J. Traube sold 19,261 shares of the company’s stock in a transaction that occurred on Friday, December 9th. The shares were sold at an average price of $6.00, for a total value of $115,566.00. Following the completion of the transaction, the executive now owns 65,140 shares in the company, valued at $390,840. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, CRO Robert J. Traube sold 27,903 shares of the company’s stock in a transaction dated Thursday, December 15th. The stock was sold at an average price of $6.20, for a total transaction of $172,998.60. Following the completion of the transaction, the executive now directly owns 37,741 shares of the company’s stock, valued at $233,994.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CRO Robert J. Traube sold 19,261 shares of the stock in a transaction dated Friday, December 9th. The stock was sold at an average price of $6.00, for a total value of $115,566.00. Following the transaction, the executive now owns 65,140 shares of the company’s stock, valued at $390,840. The disclosure for this sale can be found here. In the last three months, insiders have sold 137,471 shares of company stock worth $884,089. Company insiders own 9.08% of the company’s stock.

Zuora Stock Down 3.4 %

ZUO stock opened at $9.71 on Wednesday. Zuora, Inc. has a 1-year low of $5.45 and a 1-year high of $15.68. The company has a current ratio of 2.24, a quick ratio of 2.24 and a debt-to-equity ratio of 1.13. The business’s 50-day moving average price is $7.84 and its two-hundred day moving average price is $7.54.

Zuora (NYSE:ZUO – Get Rating) last released its quarterly earnings data on Tuesday, December 6th. The company reported ($0.24) earnings per share for the quarter, beating the consensus estimate of ($0.26) by $0.02. Zuora had a negative return on equity of 60.28% and a negative net margin of 30.79%. The business had revenue of $101.07 million for the quarter, compared to analysts’ expectations of $99.50 million. On average, research analysts expect that Zuora, Inc. will post -0.78 earnings per share for the current year.

Analyst Ratings Changes

ZUO has been the subject of a number of recent research reports. UBS Group dropped their price target on shares of Zuora from $20.00 to $15.00 and set a “buy” rating for the company in a research note on Friday, December 9th. Needham & Company LLC reissued a “buy” rating and issued a $15.00 price target on shares of Zuora in a research note on Thursday, March 2nd. Lake Street Capital started coverage on Zuora in a research report on Tuesday, January 31st. They issued a “buy” rating and a $11.00 price target on the stock. Craig Hallum dropped their price objective on Zuora from $16.00 to $10.00 in a report on Wednesday, December 7th. Finally, Canaccord Genuity Group raised their target price on Zuora from $15.00 to $16.00 and gave the stock a “buy” rating in a report on Friday, March 3rd. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $13.71.

About Zuora

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Zuora, Inc engages in the provision of cloud-based subscription management platform. Its products include Zuora Billing, Zuora Revenue, Zuora CPQ, Zuora Collect AI, and Zuora Analytics. It offers solutions to software, healthcare, education, B2C, and communications industries. The company was founded in 2007 by K.V.