Virtus Investment Advisers Inc. Makes New Investment in Zuora, Inc. (NYSE:ZUO)

Virtus Investment Advisers Inc. bought a new stake in shares of Zuora, Inc. (NYSE:ZUO) during the 3rd quarter, HoldingsChannel reports. The firm bought 49,900 shares of the company’s stock, valued at approximately $430,000.

Other large investors also recently made changes to their positions in the company. Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of Zuora during the second quarter worth approximately $44,000. Quarry LP lifted its position in Zuora by 504.9% in the 3rd quarter. Quarry LP now owns 6,164 shares of the company’s stock worth $53,000 after buying an additional 5,145 shares in the last quarter. Point72 Hong Kong Ltd acquired a new stake in shares of Zuora during the 3rd quarter valued at $63,000. CWM LLC grew its holdings in shares of Zuora by 25.0% during the 2nd quarter. CWM LLC now owns 7,945 shares of the company’s stock valued at $79,000 after acquiring an additional 1,590 shares in the last quarter. Finally, Canada Pension Plan Investment Board acquired a new position in shares of Zuora in the second quarter worth $85,000. Institutional investors and hedge funds own 83.02% of the company’s stock.

Insiders Place Their Bets

In other Zuora news, insider Andrew M. Cohen sold 20,773 shares of the business’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 $173,246.82. Following the completion of the transaction, the insider now owns 172,033 shares of the company’s stock, valued at $1,434,755.22. The trade was a 10.77 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Peter Hirsch sold 18,855 shares of the firm’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 completion of the sale, 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 disclosure for this sale can be found here. Insiders sold 221,081 shares of company stock valued at $1,857,391 over the last 90 days. 8.62% of the stock is currently owned by company insiders.

Analyst Ratings Changes

ZUO has been the subject of a number of research reports. Needham & Company LLC reissued a “hold” rating and set a $15.00 price objective 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 note on Friday, October 18th. Finally, Canaccord Genuity Group reissued a “buy” rating and issued a $13.00 price target on shares of Zuora in a research note on Thursday, August 22nd. Five analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $11.43.

Zuora Stock Performance

Shares of NYSE ZUO opened at $9.97 on Friday. The business’s 50-day simple moving average is $9.59 and its 200-day simple moving average is $9.31. The company has a debt-to-equity ratio of 1.90, a quick ratio of 2.77 and a current ratio of 2.77. Zuora, Inc. has a 52 week low of $7.70 and a 52 week high of $10.85. The firm has a market cap of $1.51 billion, a price-to-earnings ratio of -31.16 and a beta of 1.66.

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.