COUPA SOFTWARE (COUP) Shares Bought by Northern Trust Corp
Northern Trust Corp raised its position in shares of COUPA SOFTWARE (NASDAQ:COUP) by 83.7% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 162,030 shares of the technology company’s stock after purchasing an additional 73,839 shares during the period. Northern Trust Corp owned about 0.31% of COUPA SOFTWARE worth $4,695,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. Wells Fargo & Company MN raised its position in COUPA SOFTWARE by 17.2% during the 2nd quarter. Wells Fargo & Company MN now owns 321,265 shares of the technology company’s stock valued at $9,310,000 after purchasing an additional 47,131 shares in the last quarter. Lynch & Associates IN bought a new stake in COUPA SOFTWARE during the 2nd quarter valued at $385,000. Federated Investors Inc. PA raised 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 valued at $31,098,000 after purchasing an additional 563,200 shares in the last quarter. Allen Investment Management LLC raised its position in COUPA SOFTWARE by 65.6% during the 2nd quarter. Allen Investment Management LLC now owns 32,737 shares of the technology company’s stock valued at $949,000 after purchasing an additional 12,971 shares in the last quarter. Finally, GSA Capital Partners LLP bought a new stake in COUPA SOFTWARE during the 2nd quarter valued at $622,000. 65.16% of the stock is owned by institutional investors and hedge funds.
A number of brokerages have weighed in on COUP. Royal Bank Of Canada lifted their target price on COUPA SOFTWARE from $40.00 to $41.00 and gave the company an “outperform” rating in a research report on Wednesday, September 6th. First Analysis initiated coverage on COUPA SOFTWARE in a research report on Monday, August 7th. They set an “overweight” rating and a $37.00 target price for the company. Zacks Investment Research downgraded COUPA SOFTWARE from a “hold” rating to a “sell” rating in a report on Friday, September 8th. ValuEngine upgraded COUPA SOFTWARE from a “sell” rating to a “hold” rating in a report on Wednesday, October 18th. Finally, Cantor Fitzgerald reiterated a “buy” rating and issued a $36.00 price target on shares of COUPA SOFTWARE in a report on Wednesday, September 6th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and seven have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $35.16.
COUPA SOFTWARE (NASDAQ:COUP) opened at $33.95 on Friday. COUPA SOFTWARE has a fifty-two week low of $22.50 and a fifty-two week high of $37.72.
COUPA SOFTWARE (NASDAQ:COUP) last announced its quarterly earnings results on Tuesday, September 5th. The technology company reported ($0.10) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.28) by $0.18. COUPA SOFTWARE had a negative return on equity of 19.01% and a negative net margin of 24.00%. The business had revenue of $44.60 million for the quarter, compared to the consensus estimate of $41.59 million. COUPA SOFTWARE’s quarterly revenue was up 43.4% compared to the same quarter last year. equities analysts forecast that COUPA SOFTWARE will post -1 EPS for the current fiscal year.
In related news, CEO Robert Bernshteyn sold 63,225 shares of the business’s stock in a transaction on Tuesday, September 19th. The stock was sold at an average price of $31.52, for a total transaction of $1,992,852.00. Following the transaction, the chief executive officer now directly owns 280,665 shares in the company, valued at approximately $8,846,560.80. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Ravi Thakur sold 11,240 shares of the business’s stock in a transaction on Friday, September 1st. The stock was sold at an average price of $30.29, for a total value of $340,459.60. Following the transaction, the insider now owns 45,695 shares in the company, valued at $1,384,101.55. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 377,818 shares of company stock worth $12,296,855. 32.10% of the stock is owned by company insiders.
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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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