Kornitzer Capital Management Inc. KS Cuts Holdings in Zuora, Inc. (NYSE:ZUO)

Kornitzer Capital Management Inc. KS lowered its position in shares of Zuora, Inc. (NYSE:ZUO) by 8.6% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 1,064,884 shares of the company’s stock after selling 100,000 shares during the quarter. Kornitzer Capital Management Inc. KS owned about 0.74% of Zuora worth $10,010,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently bought and sold shares of ZUO. Vanguard Group Inc. increased its holdings in Zuora by 5.5% in the 3rd quarter. Vanguard Group Inc. now owns 15,742,063 shares of the company’s stock valued at $129,715,000 after purchasing an additional 822,085 shares in the last quarter. BlackRock Inc. raised its holdings in shares of Zuora by 3.2% during the 2nd quarter. BlackRock Inc. now owns 11,030,517 shares of the company’s stock valued at $121,005,000 after buying an additional 343,054 shares during the period. Baillie Gifford & Co. lifted its position in Zuora by 4.8% during the 4th quarter. Baillie Gifford & Co. now owns 5,118,254 shares of the company’s stock worth $32,552,000 after acquiring an additional 233,022 shares in the last quarter. The Manufacturers Life Insurance Company boosted its holdings in Zuora by 14.0% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 3,310,341 shares of the company’s stock worth $27,277,000 after acquiring an additional 406,841 shares during the period. Finally, State Street Corp grew its position in Zuora by 2.1% in the second quarter. State Street Corp now owns 2,764,972 shares of the company’s stock valued at $30,332,000 after acquiring an additional 57,985 shares in the last quarter. Institutional investors and hedge funds own 83.02% of the company’s stock.

Zuora Stock Performance

NYSE ZUO traded down $0.02 during trading hours on Friday, reaching $9.25. The company’s stock had a trading volume of 2,695,791 shares, compared to its average volume of 1,977,410. The stock has a market cap of $1.35 billion, a PE ratio of -19.30 and a beta of 1.90. The business has a 50-day simple moving average of $8.69 and a 200 day simple moving average of $8.52. Zuora, Inc. has a 52 week low of $7.05 and a 52 week high of $12.12. The company has a current ratio of 2.43, a quick ratio of 2.43 and a debt-to-equity ratio of 2.69.

Zuora (NYSE:ZUO) last issued its quarterly earnings data on Wednesday, February 28th. The company reported ($0.04) EPS for the quarter, topping analysts’ consensus estimates of ($0.14) by $0.10. The firm had revenue of $110.67 million during the quarter, compared to the consensus estimate of $110.80 million. Zuora had a negative return on equity of 46.38% and a negative net margin of 15.80%. Equities research analysts predict that Zuora, Inc. will post -0.15 earnings per share for the current fiscal year.

Insider Buying and Selling at Zuora

In other Zuora news, CRO Robert J. Traube sold 11,294 shares of the business’s stock in a transaction on Wednesday, April 17th. The stock was sold at an average price of $10.00, for a total transaction of $112,940.00. Following the completion of the transaction, the executive now owns 17,547 shares in the company, valued at approximately $175,470. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, CEO Tien Tzuo sold 239,198 shares of Zuora stock in a transaction dated Wednesday, April 17th. The stock was sold at an average price of $9.44, for a total transaction of $2,258,029.12. Following the transaction, the chief executive officer now directly owns 6,352 shares of the company’s stock, valued at $59,962.88. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CRO Robert J. Traube sold 11,294 shares of the business’s stock in a transaction dated Wednesday, April 17th. The stock was sold at an average price of $10.00, for a total transaction of $112,940.00. Following the completion of the sale, the executive now owns 17,547 shares in the company, valued at $175,470. The disclosure for this sale can be found here. Insiders sold 488,763 shares of company stock valued at $4,455,229 in the last ninety days. Company insiders own 9.25% of the company’s stock.

Analyst Upgrades and Downgrades

ZUO has been the topic of a number of recent research reports. Robert W. Baird reduced their target price on shares of Zuora from $10.00 to $8.00 and set a “neutral” rating on the stock in a research report on Thursday, February 29th. Needham & Company LLC reissued a “buy” rating and issued a $15.00 price objective on shares of Zuora in a research report on Thursday, February 29th. The Goldman Sachs Group raised Zuora from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $10.00 to $12.00 in a research report on Tuesday, January 23rd. Finally, Canaccord Genuity Group cut their price target on shares of Zuora from $16.00 to $13.00 and set a “buy” rating on the stock in a report on Thursday, February 29th.

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.