Sumitomo Mitsui Asset Management Company LTD increased its position in Coupa Software (NASDAQ:COUP) by 44.3% during the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 49,800 shares of the technology company’s stock after buying an additional 15,300 shares during the period. Sumitomo Mitsui Asset Management Company LTD owned 0.09% of Coupa Software worth $1,551,000 at the end of the most recent reporting period.
A number of other large investors have also recently added to or reduced their stakes in the stock. First Trust Advisors LP acquired a new position in Coupa Software during the third quarter valued at approximately $1,280,000. Verition Fund Management LLC acquired a new position in Coupa Software during the second quarter valued at approximately $384,000. California State Teachers Retirement System grew its holdings in Coupa Software by 205.2% during the second quarter. California State Teachers Retirement System now owns 52,800 shares of the technology company’s stock valued at $1,530,000 after purchasing an additional 35,500 shares during the last quarter. The Manufacturers Life Insurance Company grew its holdings in Coupa Software by 211.3% during the second quarter. The Manufacturers Life Insurance Company now owns 23,904 shares of the technology company’s stock valued at $693,000 after purchasing an additional 16,226 shares during the last quarter. Finally, Sylebra HK Co Ltd grew its holdings in Coupa Software by 6.5% during the second quarter. Sylebra HK Co Ltd now owns 1,204,374 shares of the technology company’s stock valued at $34,903,000 after purchasing an additional 73,654 shares during the last quarter. Hedge funds and other institutional investors own 65.16% of the company’s stock.
In related news, CFO Todd R. Ford sold 1,446 shares of the business’s stock in a transaction that occurred on Thursday, September 21st. The stock was sold at an average price of $31.16, for a total transaction of $45,057.36. Following the transaction, the chief financial officer now directly owns 4,063 shares of the company’s stock, valued at approximately $126,603.08. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Todd R. Ford sold 12,000 shares of the business’s stock in a transaction that occurred on Thursday, August 17th. The stock was sold at an average price of $29.45, for a total value of $353,400.00. Following the transaction, the chief financial officer now directly owns 14,613 shares in the company, valued at $430,352.85. The disclosure for this sale can be found here. In the last quarter, insiders have sold 440,926 shares of company stock worth $14,110,643. Company insiders own 32.10% of the company’s stock.
Coupa Software (NASDAQ:COUP) opened at $33.01 on Tuesday. Coupa Software has a 12-month low of $22.50 and a 12-month high of $37.72.
Coupa Software (NASDAQ:COUP) last released its quarterly earnings data on Tuesday, September 5th. The technology company reported ($0.10) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.28) by $0.18. The business had revenue of $44.60 million for the quarter, compared to analysts’ expectations of $41.59 million. Coupa Software had a negative return on equity of 19.01% and a negative net margin of 24.00%. The business’s revenue for the quarter was up 43.4% compared to the same quarter last year. equities research analysts predict that Coupa Software will post -1 EPS for the current year.
Several equities research analysts have recently issued reports on COUP shares. Northland Securities restated a “buy” rating and issued a $38.00 price objective on shares of Coupa Software in a research note on Thursday, August 10th. Cantor Fitzgerald restated a “buy” rating and issued a $36.00 price objective on shares of Coupa Software in a research note on Wednesday, September 6th. Zacks Investment Research raised Coupa Software from a “sell” rating to a “hold” rating in a research report on Tuesday, November 7th. ValuEngine raised Coupa Software from a “sell” rating to a “hold” rating in a research report on Wednesday, October 18th. Finally, Royal Bank Of Canada lifted their price objective on Coupa Software from $40.00 to $41.00 and gave the company an “outperform” rating in a report on Wednesday, September 6th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and seven have assigned a buy rating to the company. The company has a consensus rating of “Hold” and a consensus price target of $35.16.
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Coupa Software Profile
Coupa Software Incorporated is a United States-based company, which provides a unified, cloud-based spend management platform that connects organizations with suppliers globally. The Company offers spend management cloud applications, which are pre-integrated. The platform offers consumerized financial applications.
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