Kornitzer Capital Management Inc. KS Sells 100,000 Shares of Zuora, Inc. (NYSE:ZUO)

Kornitzer Capital Management Inc. KS trimmed its position in shares of Zuora, Inc. (NYSE:ZUO - Free Report) by 8.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. 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 0.74% of Zuora worth $10,010,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in ZUO. Allspring Global Investments Holdings LLC acquired a new position in shares of Zuora during the third quarter worth about $25,000. DekaBank Deutsche Girozentrale acquired a new position in Zuora during the third quarter worth about $25,000. Quarry LP acquired a new position in Zuora during the second quarter worth about $26,000. Castleview Partners LLC acquired a new position in Zuora during the second quarter worth about $37,000. Finally, Tower Research Capital LLC TRC grew its position in Zuora by 94.9% during the second quarter. Tower Research Capital LLC TRC now owns 5,124 shares of the company's stock worth $56,000 after buying an additional 2,495 shares during the period. 83.02% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Zuora

In related news, CEO Tien Tzuo sold 81,635 shares of the company's stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $8.87, for a total transaction of $724,102.45. Following the transaction, the chief executive officer now owns 6,352 shares of the company's stock, valued at $56,342.24. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In related news, insider Andrew M. Cohen sold 11,864 shares of the company's stock in a transaction that occurred on Wednesday, April 3rd. The shares were sold at an average price of $8.61, for a total transaction of $102,149.04. Following the completion of the transaction, the insider now owns 137,898 shares of the company's stock, valued at $1,187,301.78. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Tien Tzuo sold 81,635 shares of the company's stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $8.87, for a total transaction of $724,102.45. Following the transaction, the chief executive officer now directly owns 6,352 shares of the company's stock, valued at approximately $56,342.24. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 488,763 shares of company stock valued at $4,455,229. Company insiders own 9.25% of the company's stock.

Zuora Price Performance

Shares of NYSE ZUO traded down $0.02 on Friday, hitting $9.25. The company's stock had a trading volume of 2,695,791 shares, compared to its average volume of 1,977,410. Zuora, Inc. has a 12-month low of $7.05 and a 12-month high of $12.12. The company has a market capitalization of $1.35 billion, a price-to-earnings ratio of -19.27 and a beta of 1.90. The company has a debt-to-equity ratio of 2.69, a current ratio of 2.43 and a quick ratio of 2.43. The stock has a 50 day moving average of $8.69 and a 200-day moving average of $8.52.

Zuora (NYSE:ZUO - Get Free Report) last announced its quarterly earnings results on Wednesday, February 28th. The company reported ($0.04) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.14) by $0.10. The company had revenue of $110.67 million for the quarter, compared to the consensus estimate of $110.80 million. Zuora had a negative net margin of 15.80% and a negative return on equity of 46.38%. As a group, research analysts predict that Zuora, Inc. will post -0.15 EPS for the current year.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on ZUO. The Goldman Sachs Group upgraded shares of Zuora from a "neutral" rating to a "buy" rating and upped their target price for the stock from $10.00 to $12.00 in a research report on Tuesday, January 23rd. Canaccord Genuity Group lowered their target price on shares of Zuora from $16.00 to $13.00 and set a "buy" rating on the stock in a research report on Thursday, February 29th. Needham & Company LLC reaffirmed a "buy" rating and issued a $15.00 price target on shares of Zuora in a report on Thursday, February 29th. Finally, Robert W. Baird reduced their price target on shares of Zuora from $10.00 to $8.00 and set a "neutral" 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.