Capital World Investors Acquires 517,000 Shares of Coupa Software (COUP)
Capital World Investors boosted its holdings in Coupa Software (NASDAQ:COUP) by 39.2% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 1,837,112 shares of the technology company’s stock after buying an additional 517,000 shares during the quarter. Capital World Investors owned 3.47% of Coupa Software worth $53,240,000 as of its most recent SEC filing.
A number of other institutional investors have also bought and sold shares of COUP. Vanguard Group Inc. grew its position in Coupa Software by 260.3% during the 2nd quarter. Vanguard Group Inc. now owns 2,700,303 shares of the technology company’s stock worth $78,254,000 after purchasing an additional 1,950,862 shares in the last quarter. Sylebra HK Co Ltd purchased a new position in Coupa Software during the 1st quarter worth approximately $28,720,000. Voya Investment Management LLC purchased a new position in Coupa Software during the 2nd quarter worth approximately $22,196,000. Federated Investors Inc. PA grew its position in Coupa Software by 110.5% during the 2nd quarter. Federated Investors Inc. PA now owns 1,073,100 shares of the technology company’s stock worth $31,098,000 after purchasing an additional 563,200 shares in the last quarter. Finally, Janus Capital Management LLC purchased a new position in Coupa Software during the 1st quarter worth approximately $12,160,000. Hedge funds and other institutional investors own 63.60% of the company’s stock.
Coupa Software (NASDAQ:COUP) opened at 34.20 on Friday. The stock’s 50 day moving average is $31.47 and its 200 day moving average is $31.47. The stock’s market capitalization is $1.83 billion. Coupa Software has a 12-month low of $23.52 and a 12-month high of $34.45.
Coupa Software (NASDAQ:COUP) last issued its quarterly earnings data on Tuesday, September 5th. The technology company reported ($0.10) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.28) by $0.18. Coupa Software had a negative net margin of 24.00% and a negative return on equity of 19.01%. The company had revenue of $44.60 million during the quarter, compared to the consensus estimate of $41.59 million. The company’s quarterly revenue was up 43.4% compared to the same quarter last year. Analysts forecast that Coupa Software will post ($0.48) EPS for the current year.
In other news, insider Anthony D. Tiscornia sold 2,344 shares of the stock in a transaction on Tuesday, September 12th. The shares were sold at an average price of $31.37, for a total transaction of $73,531.28. Following the completion of the sale, the insider now owns 1,563 shares of the company’s stock, valued at $49,031.31. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Todd R. Ford sold 1,446 shares of the stock in a transaction 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 sale, the chief financial officer now directly owns 4,063 shares of the company’s stock, valued at approximately $126,603.08. The disclosure for this sale can be found here. Insiders have sold 2,065,026 shares of company stock valued at $64,267,396 in the last three months. 32.10% of the stock is owned by insiders.
COUP has been the topic of several research analyst reports. BTIG Research initiated coverage on shares of Coupa Software in a research report on Monday, June 12th. They set a “buy” rating and a $44.00 price objective on the stock. Cantor Fitzgerald initiated coverage on shares of Coupa Software in a research report on Thursday, July 20th. They set an “overweight” rating and a $35.00 price objective on the stock. First Analysis initiated coverage on shares of Coupa Software in a research report on Monday, August 7th. They set an “overweight” rating and a $37.00 price objective on the stock. Northland Securities reiterated a “buy” rating and set a $38.00 price objective on shares of Coupa Software in a research report on Thursday, August 10th. Finally, Royal Bank Of Canada lifted their price objective on shares of Coupa Software from $40.00 to $41.00 and gave the stock an “outperform” rating in a research report on Wednesday, September 6th. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and seven have assigned a buy rating to the stock. The company has a consensus rating of “Hold” and an average price target of $35.16.
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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