Clearline Capital LP Takes $1.11 Million Position in Zuora, Inc. (NYSE:ZUO)

Clearline Capital LP purchased a new position in Zuora, Inc. (NYSE:ZUO) during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 128,984 shares of the company’s stock, valued at approximately $1,112,000. Clearline Capital LP owned about 0.09% of Zuora as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently added to or reduced their stakes in ZUO. Point72 Asia Singapore Pte. Ltd. bought a new stake in Zuora in the second quarter worth about $44,000. Point72 Hong Kong Ltd purchased a new position in Zuora in the third quarter valued at approximately $63,000. CWM LLC grew its holdings in Zuora by 25.0% during the second quarter. CWM LLC now owns 7,945 shares of the company’s stock valued at $79,000 after purchasing an additional 1,590 shares during the period. Castleview Partners LLC bought a new stake in shares of Zuora in the third quarter valued at $79,000. Finally, Canada Pension Plan Investment Board bought a new stake in shares of Zuora in the second quarter valued at $85,000. Institutional investors own 83.02% of the company’s stock.

Analysts Set New Price Targets

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

Insiders Place Their Bets

In related news, insider Peter Hirsch sold 18,855 shares of Zuora stock in a transaction on 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 sale, the insider now owns 19,279 shares of the company’s stock, valued at approximately $174,667.74. This trade represents a 49.44 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Todd Mcelhatton sold 51,879 shares of the company’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 $432,670.86. Following the completion of the transaction, the chief financial officer now owns 356,875 shares in the company, valued at $2,976,337.50. This represents a 12.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 221,081 shares of company stock worth $1,857,391 in the last three months. 8.62% of the stock is currently owned by corporate insiders.

Zuora Price Performance

ZUO stock opened at $9.93 on Monday. The firm has a 50 day moving average of $9.48 and a 200-day moving average of $9.30. The firm has a market capitalization of $1.50 billion, a P/E ratio of -31.03 and a beta of 1.67. Zuora, Inc. has a 12 month low of $7.70 and a 12 month high of $10.85. The company has a current ratio of 2.77, a quick ratio of 2.77 and a debt-to-equity ratio of 1.90.

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.