Fmr LLC grew its holdings in shares of Coupa Software Inc (NASDAQ:COUP) by 42.3% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,774,407 shares of the technology company’s stock after purchasing an additional 527,529 shares during the quarter. Fmr LLC owned approximately 3.11% of Coupa Software worth $110,439,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. OppenheimerFunds Inc. purchased a new stake in shares of Coupa Software during the 2nd quarter valued at about $18,291,000. Bank of New York Mellon Corp increased its position in shares of Coupa Software by 35.0% during the 2nd quarter. Bank of New York Mellon Corp now owns 219,325 shares of the technology company’s stock valued at $13,651,000 after purchasing an additional 56,892 shares during the last quarter. Granahan Investment Management Inc. MA purchased a new stake in shares of Coupa Software during the 2nd quarter valued at about $14,331,000. Temasek Holdings Private Ltd increased its position in shares of Coupa Software by 56.1% during the 2nd quarter. Temasek Holdings Private Ltd now owns 37,217 shares of the technology company’s stock valued at $2,316,000 after purchasing an additional 13,380 shares during the last quarter. Finally, Gilder Gagnon Howe & Co. LLC increased its position in shares of Coupa Software by 14.7% during the 2nd quarter. Gilder Gagnon Howe & Co. LLC now owns 220,608 shares of the technology company’s stock valued at $13,731,000 after purchasing an additional 28,284 shares during the last quarter. 97.18% of the stock is owned by hedge funds and other institutional investors.
In other Coupa Software news, insider Mark Riggs sold 7,908 shares of the company’s stock in a transaction that occurred on Wednesday, October 31st. The stock was sold at an average price of $65.00, for a total value of $514,020.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Robert Bernshteyn sold 63,225 shares of the company’s stock in a transaction that occurred on Friday, August 17th. The stock was sold at an average price of $66.73, for a total value of $4,219,004.25. Following the completion of the transaction, the chief executive officer now owns 204,218 shares of the company’s stock, valued at $13,627,467.14. The disclosure for this sale can be found here. Insiders sold a total of 293,604 shares of company stock valued at $20,556,439 over the last 90 days. 6.50% of the stock is currently owned by corporate insiders.
Coupa Software (NASDAQ:COUP) last released its earnings results on Tuesday, September 4th. The technology company reported ($0.17) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.30) by $0.13. Coupa Software had a negative net margin of 22.52% and a negative return on equity of 16.73%. The company had revenue of $61.65 million during the quarter, compared to analyst estimates of $56.61 million. As a group, analysts predict that Coupa Software Inc will post -0.98 earnings per share for the current fiscal year.
Several equities research analysts have recently commented on the stock. Cantor Fitzgerald upped their price target on shares of Coupa Software from $67.00 to $92.00 and gave the company an “overweight” rating in a research report on Wednesday, September 5th. Northland Securities lowered shares of Coupa Software from an “outperform” rating to a “market perform” rating in a report on Tuesday, September 11th. Zacks Investment Research raised shares of Coupa Software from a “hold” rating to a “buy” rating and set a $86.00 target price for the company in a report on Friday, September 7th. Barclays increased their target price on shares of Coupa Software from $53.00 to $58.00 and gave the stock an “equal weight” rating in a report on Wednesday, August 15th. Finally, Loop Capital increased their target price on shares of Coupa Software to $72.00 and gave the stock a “hold” rating in a report on Wednesday, September 5th. Eight investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. Coupa Software has an average rating of “Buy” and a consensus price target of $63.69.
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Coupa Software Company Profile
Coupa Software Incorporated provides cloud-based spend management platform. The company's platform connects organization with suppliers globally; and provides visibility into and control over how companies spend money, as well as enables businesses to achieve savings that drive profitability. Its platform consists of procurement, invoicing, and expense management modules that form its transactional engine and capture a company's spend; and offers supporting modules, including sourcing, spend analysis, contract management, supplier management, and inventory management.
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