Zuora’s Stock Rating Adjusted as Institutional Interest Shifts
Fintel reports that on October 18, 2024, Lake Street downgraded their outlook for Zuora (LSE:0XL5) from Buy to Hold.
Fund Sentiment on the Rise
Currently, 403 funds and institutions have reported holdings in Zuora, an increase of 21 owners, or 5.50%, over the last quarter. The average portfolio weight allocated to 0XL5 is now 0.58%, showing a significant increase of 15.04%. Additionally, the total number of shares owned by these institutions rose by 4.40% in the past three months, totaling 133,369K shares.
Bank of New York Mellon reported holding 6,555K shares, which accounts for 4.58% of Zuora. This represents a decrease from 7,140K shares previously, reflecting an 8.92% drop and a 1.33% decrease in portfolio allocation for 0XL5 during the last quarter.
On the other hand, Scalar Gauge Management has increased its position, now holding 5,091K shares, or 3.56% ownership. This is up from 3,759K shares, noting a 26.17% increase and an 11.43% rise in their portfolio allocation for 0XL5 over the last quarter.
Vanguard Total Stock Market Index Fund Investor Shares holds 4,343K shares, representing 3.04% of the company. This is an increase from 3,995K shares, reflecting an 8.03% rise and a 15.12% increase in their portfolio allocation for 0XL5.
Solel Partners also increased its holdings, now owning 4,058K shares, or 2.84%. This is an increase from 3,575K shares, showing an 11.91% growth and a 21.53% rise in portfolio allocation for 0XL5 over the last quarter.
The Manufacturers Life Insurance Company holds 3,463K shares, representing 2.42% ownership, down from 3,511K previously, which constitutes a 1.38% decrease. However, their portfolio allocation for 0XL5 still increased by 8.24% during the same period.
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This story originally appeared on Fintel.
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