Needham Investment Management LLC Purchases 52,500 Shares of Zuora, Inc. (NYSE:ZUO)

Needham Investment Management LLC raised its holdings in Zuora, Inc. (NYSE:ZUO) by 6.8% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 825,000 shares of the company’s stock after buying an additional 52,500 shares during the quarter. Needham Investment Management LLC’s holdings in Zuora were worth $7,112,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in the business. BDF Gestion acquired a new position in Zuora in the second quarter worth about $3,426,000. Divisar Capital Management LLC acquired a new stake in Zuora in the 2nd quarter valued at $4,575,000. Scalar Gauge Management LLC grew its holdings in shares of Zuora by 35.4% in the 2nd quarter. Scalar Gauge Management LLC now owns 5,091,272 shares of the company’s stock worth $50,556,000 after purchasing an additional 1,332,343 shares during the last quarter. SG Americas Securities LLC bought a new position in Zuora during the 3rd quarter valued at about $493,000. Finally, Mutual of America Capital Management LLC boosted its position in Zuora by 18.0% in the second quarter. Mutual of America Capital Management LLC now owns 746,117 shares of the company’s stock valued at $7,409,000 after buying an additional 113,597 shares in the last quarter. Institutional investors and hedge funds own 83.02% of the company’s stock.

Insider Buying and Selling

In related news, 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 sale, the chief financial officer now owns 356,875 shares in the company, valued at approximately $2,976,337.50. This represents a 12.69 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO Tien Tzuo sold 63,873 shares of the firm’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 $532,700.82. Following the transaction, the chief executive officer now owns 63,312 shares in the company, valued at approximately $528,022.08. This trade represents a 50.22 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 221,081 shares of company stock valued at $1,857,391 over the last ninety days. Insiders own 8.62% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the company. Canaccord Genuity Group reaffirmed a “buy” rating and set a $13.00 price target on shares of Zuora in a report on Thursday, August 22nd. Needham & Company LLC reiterated a “hold” rating and set a $15.00 price target on shares of Zuora in a research report on Monday, October 21st. Finally, Lake Street Capital restated a “hold” rating and issued a $10.00 price objective on shares of Zuora in a research report on Friday, October 18th. Five research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $11.43.

Zuora Stock Performance

NYSE:ZUO remained flat at $9.94 on Tuesday. The company’s stock had a trading volume of 94,497 shares, compared to its average volume of 1,825,832. 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, Inc. has a 12-month low of $7.70 and a 12-month high of $10.85. The business has a 50 day moving average of $9.51 and a 200-day moving average of $9.30.

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.