Emerald Mutual Fund Advisers Trust Decreases Stock Position in Zuora, Inc. (NYSE:ZUO)

Emerald Mutual Fund Advisers Trust decreased its holdings in shares of Zuora, Inc. (NYSE:ZUO) by 20.2% during the third quarter, according to its most recent disclosure with the SEC. The fund owned 768,962 shares of the company’s stock after selling 194,776 shares during the period. Emerald Mutual Fund Advisers Trust owned approximately 0.51% of Zuora worth $6,628,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of the stock. Point72 Asia Singapore Pte. Ltd. purchased a new stake in Zuora during the 2nd quarter worth approximately $44,000. CWM LLC lifted its stake in shares of Zuora by 25.0% during the second quarter. CWM LLC now owns 7,945 shares of the company’s stock worth $79,000 after buying an additional 1,590 shares during the period. Canada Pension Plan Investment Board purchased a new stake in shares of Zuora during the second quarter valued at $85,000. Quent Capital LLC purchased a new stake in shares of Zuora during the first quarter valued at $83,000. Finally, Castleview Partners LLC acquired a new position in shares of Zuora in the 3rd quarter valued at $79,000. Institutional investors and hedge funds own 83.02% of the company’s stock.

Zuora Stock Performance

ZUO stock opened at $9.90 on Friday. Zuora, Inc. has a 52-week low of $7.28 and a 52-week high of $10.85. The company has a quick ratio of 2.77, a current ratio of 2.77 and a debt-to-equity ratio of 1.90. The firm has a market cap of $1.50 billion, a P/E ratio of -30.94 and a beta of 1.70. The company’s 50-day simple moving average is $9.01 and its 200-day simple moving average is $9.32.

Zuora (NYSE:ZUO) last issued its quarterly earnings results on Wednesday, August 21st. The company reported $0.19 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.10 by $0.09. The company had revenue of $115.40 million for the quarter, compared to the consensus estimate of $112.63 million. Zuora had a negative return on equity of 12.54% and a negative net margin of 10.60%. Zuora’s revenue for the quarter was up 6.8% on a year-over-year basis. During the same quarter in the prior year, the business posted ($0.12) earnings per share.

Analyst Upgrades and Downgrades

Several analysts have weighed in on ZUO shares. Craig Hallum downgraded Zuora from a “buy” rating to a “hold” rating and dropped their price target for the company from $12.00 to $10.00 in a research note on Monday, July 8th. Canaccord Genuity Group reiterated a “buy” rating and issued a $13.00 target price on shares of Zuora in a research report on Thursday, August 22nd. Needham & Company LLC reissued 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 set a $10.00 price objective on shares of Zuora in a research note on Friday, October 18th. Five research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $11.43.

Insider Activity at Zuora

In other Zuora news, CFO Todd Mcelhatton sold 51,879 shares of the company’s stock in a transaction on Thursday, October 3rd. The shares were sold at an average price of $8.34, for a total transaction of $432,670.86. Following the completion of the transaction, the chief financial officer now directly owns 356,875 shares in the company, valued at approximately $2,976,337.50. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, insider Peter Hirsch sold 18,855 shares of Zuora 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 sale, the insider now directly owns 19,279 shares in the company, valued at approximately $174,667.74. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CFO Todd Mcelhatton sold 51,879 shares of the stock in a transaction that occurred on Thursday, October 3rd. The shares were sold at an average price of $8.34, for a total value of $432,670.86. Following the transaction, the chief financial officer now directly owns 356,875 shares of the company’s stock, valued at $2,976,337.50. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 221,081 shares of company stock valued at $1,857,391. 8.62% of the stock is owned by company insiders.

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.