Mackenzie Financial Corp Sells 56,723 Shares of Zuora, Inc. (NYSE:ZUO)

Mackenzie Financial Corp lessened its holdings in shares of Zuora, Inc. (NYSE:ZUO) by 81.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 13,220 shares of the company’s stock after selling 56,723 shares during the quarter. Mackenzie Financial Corp’s holdings in Zuora were worth $124,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently modified their holdings of the company. Federated Hermes Inc. lifted its position in Zuora by 6.2% during the third quarter. Federated Hermes Inc. now owns 29,762 shares of the company’s stock valued at $245,000 after purchasing an additional 1,729 shares in the last quarter. State Board of Administration of Florida Retirement System raised its stake in shares of Zuora by 5.4% in the third quarter. State Board of Administration of Florida Retirement System now owns 37,043 shares of the company’s stock worth $305,000 after buying an additional 1,910 shares during the period. Vontobel Holding Ltd. raised its stake in shares of Zuora by 4.3% in the fourth quarter. Vontobel Holding Ltd. now owns 47,795 shares of the company’s stock worth $449,000 after buying an additional 1,969 shares during the period. Allspring Global Investments Holdings LLC purchased a new position in shares of Zuora during the 3rd quarter valued at about $25,000. Finally, DekaBank Deutsche Girozentrale bought a new position in shares of Zuora during the 3rd quarter valued at approximately $25,000. Institutional investors own 83.02% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the stock. Canaccord Genuity Group lowered their price target on shares of Zuora from $16.00 to $13.00 and set a “buy” rating on the stock in a report 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. The Goldman Sachs Group upgraded Zuora from a “neutral” rating to a “buy” rating and increased their price target for the stock from $10.00 to $12.00 in a research note on Tuesday, January 23rd. Finally, Robert W. Baird lowered their price objective on Zuora from $10.00 to $8.00 and set a “neutral” rating on the stock in a research report on Thursday, February 29th.

Insider Transactions at Zuora

In related news, insider Andrew M. Cohen sold 3,794 shares of the firm’s stock in a transaction on Wednesday, April 10th. The shares were sold at an average price of $8.29, for a total value of $31,452.26. Following the completion of the transaction, the insider now directly owns 134,104 shares of the company’s stock, valued at $1,111,722.16. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In related news, insider Andrew M. Cohen sold 3,794 shares of the stock in a transaction dated Wednesday, April 10th. The shares were sold at an average price of $8.29, for a total value of $31,452.26. Following the completion of the transaction, the insider now owns 134,104 shares of the company’s stock, valued at approximately $1,111,722.16. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Andrew M. Cohen sold 11,864 shares of Zuora stock in a transaction dated Wednesday, April 3rd. The stock was sold at an average price of $8.61, for a total value of $102,149.04. Following the completion of the transaction, the insider now owns 137,898 shares of the company’s stock, valued at approximately $1,187,301.78. The disclosure for this sale can be found here. Insiders have sold 481,854 shares of company stock valued at $4,393,048 in the last ninety days. Corporate insiders own 9.25% of the company’s stock.

Zuora Stock Up 0.8 %

Shares of ZUO stock opened at $10.03 on Tuesday. The company’s fifty day simple moving average is $8.85 and its two-hundred day simple moving average is $8.61. Zuora, Inc. has a 52 week low of $7.05 and a 52 week high of $12.12. The stock has a market cap of $1.46 billion, a P/E ratio of -20.89 and a beta of 1.90. 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 (NYSE:ZUO) last posted its 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 the consensus estimate of $110.80 million. Analysts predict that Zuora, Inc. will post -0.15 EPS for the current fiscal year.

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.