Healthcare of Ontario Pension Plan Trust Fund Cuts Stake in Zuora, Inc. (NYSE:ZUO)

Healthcare of Ontario Pension Plan Trust Fund lessened its holdings in Zuora, Inc. (NYSE:ZUO) by 59.9% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 395,132 shares of the company’s stock after selling 590,500 shares during the period. Healthcare of Ontario Pension Plan Trust Fund owned approximately 0.26% of Zuora worth $3,406,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of ZUO. Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of Zuora in the second quarter valued at $44,000. CWM LLC raised its position in Zuora by 25.0% in the 2nd quarter. CWM LLC now owns 7,945 shares of the company’s stock valued at $79,000 after purchasing an additional 1,590 shares in the last quarter. Canada Pension Plan Investment Board purchased a new position in shares of Zuora in the 2nd quarter valued at about $85,000. Castleview Partners LLC acquired a new position in shares of Zuora during the third quarter worth about $79,000. Finally, Palumbo Wealth Management LLC increased its stake in shares of Zuora by 11.7% during the third quarter. Palumbo Wealth Management LLC now owns 11,536 shares of the company’s stock worth $99,000 after buying an additional 1,210 shares during the period. Institutional investors and hedge funds own 83.02% of the company’s stock.

Insider Buying and Selling

In other news, CFO Todd Mcelhatton sold 51,879 shares of the company’s stock in a transaction dated Thursday, October 3rd. The shares were sold at an average price of $8.34, for a total value of $432,670.86. Following the completion of the sale, the chief financial officer now directly owns 356,875 shares of the company’s stock, valued at approximately $2,976,337.50. This represents a 12.69 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, 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 value of $170,826.30. Following the transaction, the insider now directly owns 19,279 shares in the company, valued at approximately $174,667.74. This represents a 49.44 % decrease in their position. 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 quarter. 8.62% of the stock is owned by insiders.

Zuora Stock Performance

NYSE ZUO opened at $9.93 on Friday. The company has a fifty day moving average of $9.48 and a two-hundred day moving average of $9.31. The company has a debt-to-equity ratio of 1.90, a current ratio of 2.77 and a quick ratio of 2.77. Zuora, Inc. has a 1 year low of $7.70 and a 1 year high of $10.85. The company has a market capitalization of $1.50 billion, a PE ratio of -31.03 and a beta of 1.70.

Analysts Set New Price Targets

A number of brokerages recently issued reports on ZUO. Lake Street Capital reiterated a “hold” rating and issued a $10.00 price target on shares of Zuora in a research note on Friday, October 18th. Needham & Company LLC reaffirmed a “hold” rating and set a $15.00 price objective on shares of Zuora in a research report on Monday, October 21st. Finally, Canaccord Genuity Group reissued a “buy” rating and issued a $13.00 target price on shares of Zuora in a report 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. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $11.43.

Zuora Company 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.