Zuora, Inc. (NYSE:ZUO) Shares Purchased by The Manufacturers Life Insurance Company

The Manufacturers Life Insurance Company lifted its stake in Zuora, Inc. (NYSE:ZUOFree Report) by 13.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 3,740,046 shares of the company’s stock after acquiring an additional 429,705 shares during the period. The Manufacturers Life Insurance Company owned 2.61% of Zuora worth $35,156,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in ZUO. Millrace Asset Group Inc. acquired a new stake in Zuora in the fourth quarter worth approximately $1,092,000. Hsbc Holdings PLC lifted its holdings in shares of Zuora by 19.7% in the fourth quarter. Hsbc Holdings PLC now owns 118,651 shares of the company’s stock valued at $1,130,000 after buying an additional 19,536 shares during the period. Corient Private Wealth LLC lifted its holdings in shares of Zuora by 473.4% in the fourth quarter. Corient Private Wealth LLC now owns 59,454 shares of the company’s stock valued at $559,000 after buying an additional 49,086 shares during the period. Panagora Asset Management Inc. boosted its stake in Zuora by 1.1% during the fourth quarter. Panagora Asset Management Inc. now owns 702,125 shares of the company’s stock valued at $6,600,000 after buying an additional 7,350 shares in the last quarter. Finally, Ieq Capital LLC grew its holdings in Zuora by 889.9% during the fourth quarter. Ieq Capital LLC now owns 151,656 shares of the company’s stock worth $1,426,000 after acquiring an additional 136,335 shares during the period. 83.02% of the stock is currently owned by institutional investors.

Zuora Price Performance

NYSE ZUO opened at $10.01 on Friday. The firm’s 50 day moving average price is $9.62 and its two-hundred day moving average price is $9.05. The company has a current ratio of 2.56, a quick ratio of 2.43 and a debt-to-equity ratio of 2.60. Zuora, Inc. has a twelve month low of $7.05 and a twelve month high of $12.12.

Insider Transactions at Zuora

In related news, CEO Tien Tzuo sold 81,635 shares of the company’s stock in a transaction on Monday, April 1st. The stock was sold at an average price of $8.87, for a total transaction of $724,102.45. Following the transaction, 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 can be accessed through this link. In other Zuora news, insider Andrew M. Cohen sold 11,864 shares of Zuora stock in a transaction on Wednesday, April 3rd. The shares were sold at an average price of $8.61, for a total transaction of $102,149.04. Following the completion of the sale, the insider now owns 137,898 shares of the company’s stock, valued at approximately $1,187,301.78. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Tien Tzuo sold 81,635 shares of the company’s stock in a transaction on Monday, April 1st. The stock was sold at an average price of $8.87, for a total transaction of $724,102.45. Following the completion of the transaction, 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. Insiders sold a total of 481,854 shares of company stock valued at $4,393,048 over the last quarter. Company insiders own 8.62% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the stock. Robert W. Baird upped their price target on shares of Zuora from $8.00 to $10.00 and gave the company a “neutral” rating in a report on Tuesday, May 28th. Jefferies Financial Group increased their target price on shares of Zuora from $9.00 to $10.00 and gave the company a “hold” rating in a research note on Thursday, May 23rd. Lake Street Capital lifted their price target on shares of Zuora from $12.00 to $13.00 and gave the stock a “buy” rating in a research report on Thursday, May 23rd. Needham & Company LLC reiterated a “buy” rating and set a $15.00 price objective on shares of Zuora in a research report on Thursday, May 23rd. Finally, Canaccord Genuity Group reissued a “buy” rating and set a $13.00 price objective on shares of Zuora in a research note on Thursday, May 23rd. Two analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, Zuora has an average rating of “Moderate Buy” and a consensus target price of $12.17.

Check Out Our Latest Report on Zuora

About Zuora

(Free Report)

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.

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Institutional Ownership by Quarter for Zuora (NYSE:ZUO)

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