Principal Financial Group Inc. Lowers Holdings in Zuora, Inc. (NYSE:ZUO)

Principal Financial Group Inc. lowered its position in shares of Zuora, Inc. (NYSE:ZUO) by 26.8% in the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 12,851 shares of the company’s stock after selling 4,711 shares during the quarter. Principal Financial Group Inc.’s holdings in Zuora were worth $111,000 as of its most recent filing with the SEC.

Other hedge funds also recently made changes to their positions in the company. 272 Capital LP lifted its holdings in Zuora by 28.1% in the third quarter. 272 Capital LP now owns 493,527 shares of the company’s stock valued at $4,254,000 after acquiring an additional 108,201 shares during the period. Geode Capital Management LLC boosted its holdings in Zuora by 4.0% during the third quarter. Geode Capital Management LLC now owns 3,137,007 shares of the company’s stock worth $27,047,000 after buying an additional 119,439 shares in the last quarter. Barclays PLC grew its position in Zuora by 256.0% during the third quarter. Barclays PLC now owns 280,963 shares of the company’s stock worth $2,422,000 after buying an additional 202,047 shares during the period. Y Intercept Hong Kong Ltd purchased a new position in Zuora in the third quarter valued at about $304,000. Finally, Zacks Investment Management lifted its position in shares of Zuora by 15.6% during the 3rd quarter. Zacks Investment Management now owns 310,800 shares of the company’s stock valued at $2,679,000 after acquiring an additional 42,054 shares during the period. Institutional investors and hedge funds own 83.02% of the company’s stock.

Zuora Price Performance

ZUO stock opened at $9.93 on Wednesday. The firm has a market cap of $1.53 billion, a price-to-earnings ratio of -20.26 and a beta of 1.67. Zuora, Inc. has a 1-year low of $7.70 and a 1-year high of $10.85. The firm has a fifty day moving average price of $9.92 and a two-hundred day moving average price of $9.32. The company has a debt-to-equity ratio of 2.00, a current ratio of 2.62 and a quick ratio of 2.77.

Insider Buying and Selling at Zuora

In related news, insider Peter Hirsch sold 18,855 shares of the firm’s stock in a transaction dated Tuesday, October 15th. The stock was sold at an average price of $9.06, for a total transaction of $170,826.30. Following the completion of the transaction, the insider now owns 19,279 shares of the company’s stock, valued at $174,667.74. This trade represents a 49.44 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CAO Matthew R. Dobson sold 2,908 shares of Zuora stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $9.93, for a total transaction of $28,876.44. Following the completion of the transaction, the chief accounting officer now directly owns 83,958 shares in the company, valued at $833,702.94. This represents a 3.35 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 207,254 shares of company stock valued at $2,041,628 in the last quarter. Corporate insiders own 8.62% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on ZUO shares. Lake Street Capital reaffirmed a “hold” rating and issued a $10.00 price objective on shares of Zuora in a research note on Friday, October 18th. Needham & Company LLC reiterated a “hold” rating and issued a $15.00 price objective on shares of Zuora in a research report on Monday, October 21st. Five equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $11.43.

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.