Allen Investment Management LLC raised its position in shares of Coupa Software (NASDAQ:COUP) by 65.6% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 32,737 shares of the technology company’s stock after buying an additional 12,971 shares during the period. Allen Investment Management LLC owned 0.06% of Coupa Software worth $949,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in COUP. Federated Investors Inc. PA increased its position in Coupa Software by 110.5% in the second quarter. Federated Investors Inc. PA now owns 1,073,100 shares of the technology company’s stock worth $31,098,000 after buying an additional 563,200 shares in the last quarter. BNP Paribas Arbitrage SA increased its position in Coupa Software by 2,294.8% in the second quarter. BNP Paribas Arbitrage SA now owns 3,664 shares of the technology company’s stock worth $106,000 after buying an additional 3,511 shares in the last quarter. Legal & General Group Plc increased its position in Coupa Software by 436.1% in the second quarter. Legal & General Group Plc now owns 10,792 shares of the technology company’s stock worth $312,000 after buying an additional 8,779 shares in the last quarter. Bank of New York Mellon Corp increased its position in Coupa Software by 306.6% in the second quarter. Bank of New York Mellon Corp now owns 110,562 shares of the technology company’s stock worth $3,204,000 after buying an additional 83,373 shares in the last quarter. Finally, Rhumbline Advisers increased its position in Coupa Software by 304.4% in the second quarter. Rhumbline Advisers now owns 33,358 shares of the technology company’s stock worth $967,000 after buying an additional 25,110 shares in the last quarter. Hedge funds and other institutional investors own 64.35% of the company’s stock.

Shares of Coupa Software (COUP) opened at 30.03 on Wednesday. Coupa Software has a 52 week low of $22.50 and a 52 week high of $41.61. The firm has a 50-day moving average of $30.33 and a 200 day moving average of $29.03. The firm’s market capitalization is $1.59 billion.

Coupa Software (NASDAQ:COUP) last issued its quarterly earnings results on Monday, June 5th. The technology company reported ($0.09) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.14) by $0.05. The company had revenue of $41.10 million during the quarter, compared to the consensus estimate of $38.33 million. The firm’s quarterly revenue was up 40.8% on a year-over-year basis. During the same quarter last year, the firm posted ($1.76) EPS. On average, equities research analysts expect that Coupa Software will post ($0.51) EPS for the current fiscal year.

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A number of equities analysts have recently issued reports on the stock. Northland Securities reiterated a “buy” rating and set a $38.00 price objective on shares of Coupa Software in a research note on Thursday, August 10th. First Analysis assumed coverage on shares of Coupa Software in a research note on Monday, August 7th. They set an “overweight” rating and a $37.00 price objective on the stock. Cantor Fitzgerald assumed coverage on shares of Coupa Software in a research note on Thursday, July 20th. They set an “overweight” rating and a $35.00 price objective on the stock. BTIG Research assumed coverage on shares of Coupa Software in a research note on Monday, June 12th. They set a “buy” rating and a $44.00 price objective on the stock. Finally, Raymond James Financial, Inc. reiterated an “outperform” rating and set a $40.00 price objective (up from $34.00) on shares of Coupa Software in a research note on Wednesday, June 7th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and seven have issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus price target of $34.45.

In related news, insider Anthony D. Tiscornia sold 2,171 shares of Coupa Software stock in a transaction on Friday, June 23rd. The shares were sold at an average price of $30.60, for a total value of $66,432.60. Following the completion of the sale, the insider now owns 1,911 shares in the company, valued at $58,476.60. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Todd R. Ford sold 1,446 shares of Coupa Software stock in a transaction on Wednesday, June 21st. The stock was sold at an average price of $30.70, for a total transaction of $44,392.20. Following the completion of the sale, the chief financial officer now owns 4,059 shares of the company’s stock, valued at approximately $124,611.30. The disclosure for this sale can be found here. In the last 90 days, insiders sold 1,851,944 shares of company stock valued at $57,689,982. Insiders own 32.10% of the company’s stock.

About Coupa Software

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.

Institutional Ownership by Quarter for Coupa Software (NASDAQ:COUP)

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