Walleye Capital LLC Grows Holdings in Zuora, Inc. (NYSE:ZUO)

Walleye Capital LLC grew its stake in Zuora, Inc. (NYSE:ZUO) by 354.6% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 48,489 shares of the company’s stock after buying an additional 37,822 shares during the period. Walleye Capital LLC’s holdings in Zuora were worth $418,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of Zuora in the 2nd quarter worth approximately $44,000. CWM LLC lifted its holdings in shares of Zuora by 25.0% in the 2nd quarter. CWM LLC now owns 7,945 shares of the company’s stock worth $79,000 after acquiring an additional 1,590 shares during the last quarter. Castleview Partners LLC bought a new stake in shares of Zuora in the 3rd quarter worth approximately $79,000. Canada Pension Plan Investment Board bought a new stake in shares of Zuora in the 2nd quarter worth approximately $85,000. Finally, Palumbo Wealth Management LLC lifted its holdings in shares of Zuora by 11.7% in the 3rd quarter. Palumbo Wealth Management LLC now owns 11,536 shares of the company’s stock worth $99,000 after acquiring an additional 1,210 shares during the last quarter. Hedge funds and other institutional investors own 83.02% of the company’s stock.

Insider Buying and Selling at Zuora

In other news, CFO Todd Mcelhatton sold 51,879 shares of the stock in a transaction that occurred on Thursday, October 3rd. The shares were sold at an average price of $8.34, for a total value of $432,670.86. Following 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 position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Peter Hirsch sold 18,855 shares of the stock in a transaction that occurred 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 transaction, the insider now owns 19,279 shares in the company, valued at $174,667.74. This trade represents a 49.44 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 221,081 shares of company stock worth $1,857,391. Company insiders own 8.62% of the company’s stock.

Zuora Stock Performance

Shares of ZUO stock opened at $9.95 on Tuesday. The company has a debt-to-equity ratio of 1.90, a quick ratio of 2.77 and a current ratio of 2.77. The company has a market capitalization of $1.51 billion, a price-to-earnings ratio of -31.08 and a beta of 1.66. The company’s 50-day moving average is $9.64 and its 200 day moving average is $9.29. Zuora, Inc. has a one year low of $7.70 and a one year high of $10.85.

Analysts Set New Price Targets

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