Palumbo Wealth Management LLC Increases Position in Zuora, Inc. (NYSE:ZUO)

Palumbo Wealth Management LLC lifted its holdings in Zuora, Inc. (NYSE:ZUO) by 40.0% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 16,152 shares of the company’s stock after purchasing an additional 4,616 shares during the period. Palumbo Wealth Management LLC’s holdings in Zuora were worth $160,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Samson Rock Capital LLP grew its position in Zuora by 598.4% in the 4th quarter. Samson Rock Capital LLP now owns 2,095,340 shares of the company’s stock valued at $20,786,000 after acquiring an additional 1,795,340 shares during the last quarter. Scalar Gauge Management LLC grew its holdings in shares of Zuora by 27.4% in the third quarter. Scalar Gauge Management LLC now owns 6,484,599 shares of the company’s stock worth $55,897,000 after purchasing an additional 1,393,327 shares during the last quarter. JPMorgan Chase & Co. grew its holdings in shares of Zuora by 52.5% in the third quarter. JPMorgan Chase & Co. now owns 1,126,596 shares of the company’s stock worth $9,711,000 after purchasing an additional 387,876 shares during the last quarter. Potrero Capital Research LLC increased its stake in Zuora by 8.1% in the 3rd quarter. Potrero Capital Research LLC now owns 2,949,360 shares of the company’s stock worth $25,423,000 after buying an additional 219,863 shares during the period. Finally, Barclays PLC lifted its holdings in Zuora by 256.0% during the 3rd quarter. Barclays PLC now owns 280,963 shares of the company’s stock valued at $2,422,000 after buying an additional 202,047 shares in the last quarter. 83.02% of the stock is owned by institutional investors.

Insider Activity

In related news, CFO Todd Mcelhatton sold 50,373 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 $500,203.89. Following the transaction, the chief financial officer now directly owns 404,634 shares of the company’s stock, valued at $4,018,015.62. This trade represents a 11.07 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider Peter Hirsch sold 25,664 shares of the company’s stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $9.93, for a total value of $254,843.52. Following the sale, the insider now owns 43,615 shares of the company’s stock, valued at approximately $433,096.95. This represents a 37.04 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 207,868 shares of company stock worth $2,064,908. 8.62% of the stock is currently owned by corporate insiders.

Zuora Price Performance

NYSE:ZUO opened at $10.02 on Friday. The company has a quick ratio of 2.62, a current ratio of 2.62 and a debt-to-equity ratio of 2.00. Zuora, Inc. has a 1-year low of $7.70 and a 1-year high of $10.85. The company has a 50-day moving average of $9.96 and a 200 day moving average of $9.45.

Analyst Ratings Changes

Separately, Needham & Company LLC reaffirmed a “hold” rating and set a $15.00 target price 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 one has given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $11.33.

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.