Peter Hirsch, the Chief Product & Tech Officer at Zuora Inc (NYSE:ZUO), has recently sold a significant portion of his holdings in the company. According to an SEC filing, Hirsch sold 19,469 shares of Zuora's Class A common stock on January 15, 2025. The shares were sold at a weighted average price of $9.97, resulting in a total transaction value of approximately $194,119.
This transaction was executed under a 10b5-1 trading plan, which Hirsch adopted on March 15, 2024. Following the sale, Hirsch retains ownership of 24,146 shares in the company. The sale price of the shares ranged from $9.97 to $9.98 per share. According to InvestingPro, Zuora maintains a strong financial position with more cash than debt and liquid assets exceeding short-term obligations. Discover more insights about ZUO and 1,400+ other stocks through comprehensive Pro Research Reports, available exclusively with an InvestingPro subscription.
In other recent news, Zuora, Inc., a leading player in monetization solutions, has agreed to a $1.7 billion acquisition deal with private equity firm Silver Lake and GIC Pte. Ltd., Singapore's sovereign wealth fund. The company will transition from a public entity to a private one upon the transaction's completion. The acquisition was unanimously approved by the Zuora Board of Directors, following a comprehensive review of strategic alternatives by a Special Committee of independent directors.
In financial news, Zuora reported a 9% year-over-year increase in subscription revenue, reaching $104 million in the second quarter of fiscal year 2025. The company's non-GAAP operating income also hit a record high of $25.6 million. However, a 10% decrease in professional services revenue was also reported, falling to $11.3 million.
The company continues to make strategic moves, announcing recent acquisitions to enhance its AI capabilities. Looking ahead, Zuora projects its subscription revenue for the upcoming third quarter to be between $104.5 million and $105.5 million. For the full fiscal year, the company expects subscription revenue to range from $414.5 million to $416.5 million, with non-GAAP operating income forecasted between $90 million and $93 million. These recent developments reflect Zuora's ongoing commitment to balanced growth and profitability.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.