Zuora (NYSE:ZUO) Sees Large Volume Increase – Here’s What Happened

Zuora, Inc. (NYSE:ZUO) shares saw unusually-high trading volume on Thursday . Approximately 4,368,767 shares were traded during mid-day trading, an increase of 135% from the previous session’s volume of 1,860,993 shares.The stock last traded at $10.01 and had previously closed at $9.99.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the stock. Needham & Company LLC reiterated a “hold” rating and set a $15.00 price objective on shares of Zuora in a research note on Monday, October 21st. Lake Street Capital reiterated a “hold” rating and set a $10.00 price objective on shares of Zuora in a research note on Friday, October 18th. Five analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $11.33.

Zuora Stock Performance

The stock has a market cap of $1.54 billion, a P/E ratio of -20.44 and a beta of 1.67. The company has a fifty day moving average price of $9.96 and a 200 day moving average price of $9.44. The company has a debt-to-equity ratio of 2.00, a current ratio of 2.62 and a quick ratio of 2.62.

Insider Buying and Selling at Zuora

In other Zuora news, CEO Tien Tzuo sold 48,569 shares of Zuora stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $9.93, for a total transaction of $482,290.17. Following the transaction, the chief executive officer now owns 110,576 shares of the company’s stock, valued at $1,098,019.68. This trade represents a 30.52 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, 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 transaction, the chief accounting officer now directly owns 83,958 shares in the company, valued at approximately $833,702.94. This represents a 3.35 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 207,868 shares of company stock worth $2,064,908. Corporate insiders own 8.62% of the company’s stock.

Institutional Investors Weigh In On Zuora

Several large investors have recently modified their holdings of ZUO. Vestcor Inc purchased a new stake in shares of Zuora during the 4th quarter worth approximately $40,000. SBI Securities Co. Ltd. purchased a new stake in shares of Zuora during the 4th quarter worth approximately $41,000. Quarry LP increased its stake in shares of Zuora by 504.9% during the 3rd quarter. Quarry LP now owns 6,164 shares of the company’s stock worth $53,000 after purchasing an additional 5,145 shares during the last quarter. Point72 Hong Kong Ltd purchased a new stake in shares of Zuora during the 3rd quarter worth approximately $63,000. Finally, Castleview Partners LLC purchased a new stake in shares of Zuora during the 3rd quarter worth approximately $79,000. Hedge funds and other institutional investors own 83.02% of the company’s stock.

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.