Palumbo Wealth Management LLC Purchases 4,616 Shares of Zuora, Inc. (NYSE:ZUO)

Palumbo Wealth Management LLC increased its position in shares of Zuora, Inc. (NYSE:ZUO) by 40.0% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 16,152 shares of the company’s stock after purchasing an additional 4,616 shares during the period. Palumbo Wealth Management LLC’s holdings in Zuora were worth $160,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of ZUO. Scalar Gauge Management LLC raised its holdings in Zuora by 27.4% during the third quarter. Scalar Gauge Management LLC now owns 6,484,599 shares of the company’s stock valued at $55,897,000 after acquiring an additional 1,393,327 shares during the period. State Street Corp grew its position in shares of Zuora by 0.3% during the third quarter. State Street Corp now owns 3,302,811 shares of the company’s stock worth $28,470,000 after purchasing an additional 10,424 shares in the last quarter. Geode Capital Management LLC raised its stake in Zuora by 4.0% during the 3rd quarter. Geode Capital Management LLC now owns 3,137,007 shares of the company’s stock valued at $27,047,000 after purchasing an additional 119,439 shares during the period. Potrero Capital Research LLC lifted its holdings in Zuora by 8.1% in the 3rd quarter. Potrero Capital Research LLC now owns 2,949,360 shares of the company’s stock worth $25,423,000 after purchasing an additional 219,863 shares in the last quarter. Finally, Samson Rock Capital LLP boosted its stake in Zuora by 598.4% in the 4th quarter. Samson Rock Capital LLP now owns 2,095,340 shares of the company’s stock worth $20,786,000 after purchasing an additional 1,795,340 shares during the period. Hedge funds and other institutional investors own 83.02% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Needham & Company LLC reiterated a “hold” rating and set a $15.00 price objective on shares of Zuora in a research report on Monday, October 21st. Five research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $11.33.

Insiders Place Their Bets

In other Zuora news, CRO Robert J. Traube sold 60,885 shares of Zuora stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $9.93, for a total value of $604,588.05. Following the completion of the transaction, the executive now directly owns 168,906 shares of the company’s stock, valued at $1,677,236.58. This trade represents a 26.50 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, insider Peter Hirsch sold 19,469 shares of the company’s stock in a transaction dated Wednesday, January 15th. The shares were sold at an average price of $9.97, for a total transaction of $194,105.93. Following the sale, the insider now owns 24,146 shares in the company, valued at $240,735.62. This represents a 44.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 207,868 shares of company stock valued at $2,064,908 in the last quarter. 8.62% of the stock is currently owned by insiders.

Zuora Price Performance

NYSE:ZUO opened at $10.02 on Friday. The business’s 50-day moving average is $9.96 and its 200 day moving average is $9.45. Zuora, Inc. has a 12 month low of $7.70 and a 12 month high of $10.85. The company has a current ratio of 2.62, a quick ratio of 2.62 and a debt-to-equity ratio of 2.00.

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.