Zuora Inc (NYSE:ZUO) Major Shareholder Steven M. Spurlock Sells 161,969 Shares

Zuora Inc (NYSE:ZUO) major shareholder Steven M. Spurlock sold 161,969 shares of the firm’s stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $19.82, for a total value of $3,210,225.58. The sale was disclosed in a filing with the SEC, which is accessible through this link. Large shareholders that own at least 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

Zuora stock traded up $0.09 during midday trading on Friday, reaching $21.35. The stock had a trading volume of 1,938,771 shares, compared to its average volume of 1,652,490. Zuora Inc has a 1-year low of $15.56 and a 1-year high of $37.78. The firm has a market cap of $2.33 billion and a PE ratio of -26.04. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.98 and a current ratio of 1.86.

Zuora (NYSE:ZUO) last announced its earnings results on Thursday, March 21st. The company reported ($0.18) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.15) by ($0.03). Zuora had a negative net margin of 32.99% and a negative return on equity of 46.98%. The firm had revenue of $64.10 million during the quarter, compared to analyst estimates of $63.00 million. Zuora’s revenue was up 28.7% on a year-over-year basis. As a group, equities research analysts predict that Zuora Inc will post -0.55 EPS for the current year.

ZUO has been the topic of several recent analyst reports. Needham & Company LLC lifted their price objective on Zuora from $27.00 to $30.00 and gave the company a “strong-buy” rating in a report on Wednesday, March 20th. Zacks Investment Research upgraded Zuora from a “sell” rating to a “hold” rating in a report on Sunday, January 6th. Goldman Sachs Group reiterated a “sell” rating and set a $18.00 price objective on shares of Zuora in a report on Friday, February 1st. Finally, Canaccord Genuity upgraded Zuora from a “hold” rating to a “buy” rating and lifted their price objective for the company from $23.00 to $28.00 in a report on Tuesday, March 19th. One analyst has rated the stock with a sell rating, one has issued a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the stock. The stock has an average rating of “Buy” and a consensus price target of $26.17.

A number of institutional investors have recently made changes to their positions in ZUO. Northern Trust Corp acquired a new position in shares of Zuora during the 2nd quarter worth approximately $627,000. JPMorgan Chase & Co. increased its position in shares of Zuora by 1,183.1% during the 3rd quarter. JPMorgan Chase & Co. now owns 120,946 shares of the company’s stock worth $2,794,000 after purchasing an additional 111,520 shares during the last quarter. Bank of New York Mellon Corp acquired a new position in shares of Zuora during the 3rd quarter worth approximately $816,000. Credit Suisse AG acquired a new position in shares of Zuora during the 3rd quarter worth approximately $875,000. Finally, Quantbot Technologies LP increased its position in shares of Zuora by 257.9% during the 3rd quarter. Quantbot Technologies LP now owns 12,884 shares of the company’s stock worth $297,000 after purchasing an additional 9,284 shares during the last quarter. 33.14% of the stock is currently owned by institutional investors and hedge funds.

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About Zuora

Zuora, Inc provides cloud-based software on a subscription basis that enables companies in various industries to launch, manage, and transform into a subscription business. The company offers Zuora Central platform that acts as an intelligent subscription management hub that automates the subscription order-to-cash process, including quoting, billing, collections, analytics, and revenue recognition.

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