Readystate Asset Management LP Makes New Investment in Zuora, Inc. (NYSE:ZUO)

Readystate Asset Management LP bought a new position in Zuora, Inc. (NYSE:ZUO) in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 81,365 shares of the company’s stock, valued at approximately $701,000. Readystate Asset Management LP owned about 0.05% of Zuora at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of ZUO. Price T Rowe Associates Inc. MD grew its position in shares of Zuora by 7.6% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 67,806 shares of the company’s stock worth $619,000 after buying an additional 4,760 shares during the period. CWM LLC lifted its position in shares of Zuora by 25.0% in the second quarter. CWM LLC now owns 7,945 shares of the company’s stock worth $79,000 after purchasing an additional 1,590 shares in the last quarter. Diversified Trust Co lifted its position in shares of Zuora by 9.2% in the second quarter. Diversified Trust Co now owns 38,872 shares of the company’s stock worth $386,000 after purchasing an additional 3,260 shares in the last quarter. Samson Rock Capital LLP bought a new stake in Zuora during the second quarter worth $1,638,000. Finally, Williams Financial LLC bought a new stake in Zuora during the second quarter worth $119,000. Institutional investors and hedge funds own 83.02% of the company’s stock.

Zuora Stock Down 0.1 %

Shares of ZUO opened at $9.97 on Friday. The company’s 50-day moving average is $9.59 and its 200-day moving average is $9.31. Zuora, Inc. has a fifty-two week low of $7.70 and a fifty-two week high of $10.85. The company has a debt-to-equity ratio of 1.90, a current ratio of 2.77 and a quick ratio of 2.77.

Insider Activity

In related news, insider Peter Hirsch sold 18,855 shares of the company’s stock in a transaction dated Tuesday, October 15th. The shares were 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 ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Tien Tzuo sold 63,873 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 transaction of $532,700.82. Following the completion of the transaction, the chief executive officer now owns 63,312 shares in the company, valued at $528,022.08. This trade represents a 50.22 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 221,081 shares of company stock valued at $1,857,391 over the last ninety days. 8.62% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several analysts have issued reports on ZUO shares. Needham & Company LLC reaffirmed a “hold” rating and set a $15.00 price target on shares of Zuora in a research report on Monday, October 21st. Lake Street Capital reaffirmed a “hold” rating and set a $10.00 price target on shares of Zuora in a research report on Friday, October 18th. Finally, Canaccord Genuity Group reaffirmed a “buy” rating and set a $13.00 price target on shares of Zuora in a research report on Thursday, August 22nd. Five research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat, Zuora presently 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.