Point72 Asset Management L.P. Decreases Holdings in Zuora Inc (NYSE:ZUO)
Point72 Asset Management L.P. lowered its position in Zuora Inc (NYSE:ZUO) by 90.5% during the third quarter, HoldingsChannel.com reports. The fund owned 35,437 shares of the company’s stock after selling 337,890 shares during the quarter. Point72 Asset Management L.P.’s holdings in Zuora were worth $533,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Oppenheimer Asset Management Inc. raised its holdings in Zuora by 90.3% during the second quarter. Oppenheimer Asset Management Inc. now owns 2,763 shares of the company’s stock worth $42,000 after purchasing an additional 1,311 shares during the last quarter. NEXT Financial Group Inc grew its holdings in Zuora by 2,710.3% in the third quarter. NEXT Financial Group Inc now owns 3,007 shares of the company’s stock valued at $45,000 after purchasing an additional 2,900 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank purchased a new position in shares of Zuora in the second quarter valued at $49,000. Rehmann Capital Advisory Group acquired a new position in shares of Zuora during the 2nd quarter worth $53,000. Finally, LLBH Private Wealth Management LLC acquired a new position in shares of Zuora during the 2nd quarter worth $57,000. 48.72% of the stock is owned by hedge funds and other institutional investors.
In other news, Director Jason Pressman sold 11,008 shares of the firm’s stock in a transaction on Monday, September 16th. The stock was sold at an average price of $15.08, for a total transaction of $166,000.64. Also, CRO Robert J. Traube sold 48,973 shares of the firm’s stock in a transaction on Thursday, October 31st. The stock was sold at an average price of $14.52, for a total value of $711,087.96. Insiders sold a total of 98,358 shares of company stock valued at $1,484,213 in the last three months. 26.02% of the stock is currently owned by corporate insiders.
Zuora stock opened at $15.10 on Friday. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.92 and a current ratio of 1.92. The stock has a fifty day moving average of $14.81 and a two-hundred day moving average of $15.37. The company has a market capitalization of $1.71 billion, a price-to-earnings ratio of -18.41 and a beta of 1.94. Zuora Inc has a fifty-two week low of $13.04 and a fifty-two week high of $24.65.
Zuora (NYSE:ZUO) last issued its quarterly earnings data on Thursday, December 5th. The company reported ($0.06) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.09) by $0.03. The business had revenue of $71.80 million for the quarter, compared to the consensus estimate of $70.31 million. Zuora had a negative return on equity of 47.64% and a negative net margin of 30.81%. The business’s revenue was up 16.9% on a year-over-year basis. During the same period in the prior year, the business earned ($0.10) earnings per share. On average, analysts forecast that Zuora Inc will post -0.72 EPS for the current fiscal year.
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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