Korea Investment CORP acquired a new position in Coupa Software Inc (NASDAQ:COUP) during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 204,800 shares of the technology company’s stock, valued at approximately $28,617,000. Korea Investment CORP owned 0.31% of Coupa Software at the end of the most recent reporting period.
A number of other hedge funds have also recently added to or reduced their stakes in the stock. Personal Capital Advisors Corp lifted its stake in shares of Coupa Software by 0.7% in the first quarter. Personal Capital Advisors Corp now owns 11,094 shares of the technology company’s stock worth $1,550,000 after buying an additional 78 shares in the last quarter. ProShare Advisors LLC grew its holdings in Coupa Software by 3.2% during the 4th quarter. ProShare Advisors LLC now owns 2,998 shares of the technology company’s stock worth $438,000 after acquiring an additional 93 shares in the last quarter. Comerica Bank lifted its position in shares of Coupa Software by 5.5% during the 1st quarter. Comerica Bank now owns 2,277 shares of the technology company’s stock worth $371,000 after buying an additional 118 shares during the last quarter. Sunbelt Securities Inc. purchased a new stake in shares of Coupa Software during the 4th quarter worth approximately $4,570,000. Finally, Lido Advisors LLC raised its position in Coupa Software by 8.4% in the 4th quarter. Lido Advisors LLC now owns 1,852 shares of the technology company’s stock valued at $271,000 after purchasing an additional 143 shares during the last quarter.
In other Coupa Software news, CFO Todd R. Ford sold 78,561 shares of Coupa Software stock in a transaction on Tuesday, May 5th. The stock was sold at an average price of $191.69, for a total value of $15,059,358.09. Following the completion of the transaction, the chief financial officer now directly owns 25,606 shares of the company’s stock, valued at approximately $4,908,414.14. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Veenendaal Frank Van sold 1,299 shares of Coupa Software stock in a transaction on Monday, March 16th. The shares were sold at an average price of $115.00, for a total value of $149,385.00. Following the completion of the transaction, the director now directly owns 72,592 shares of the company’s stock, valued at $8,348,080. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 188,721 shares of company stock valued at $32,934,997. Insiders own 3.40% of the company’s stock.
Coupa Software (NASDAQ:COUP) last posted its quarterly earnings data on Monday, June 8th. The technology company reported $0.20 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.07 by $0.13. The business had revenue of $119.21 million during the quarter, compared to the consensus estimate of $111.84 million. Coupa Software had a negative return on equity of 10.01% and a negative net margin of 23.31%. Coupa Software’s quarterly revenue was up 46.6% on a year-over-year basis. During the same period last year, the company earned $0.03 earnings per share. As a group, equities research analysts expect that Coupa Software Inc will post -0.95 earnings per share for the current fiscal year.
A number of brokerages have commented on COUP. ValuEngine downgraded shares of Coupa Software from a “buy” rating to a “hold” rating in a research report on Friday, May 1st. Wedbush cut shares of Coupa Software from an “outperform” rating to a “neutral” rating and set a $198.00 price objective on the stock. in a research note on Thursday, May 28th. Royal Bank of Canada lowered their price objective on shares of Coupa Software from $190.00 to $140.00 and set an “outperform” rating on the stock in a research note on Tuesday, March 17th. Oppenheimer began coverage on shares of Coupa Software in a research note on Tuesday. They set a “buy” rating and a $250.00 price target on the stock. Finally, Barclays reiterated a “hold” rating and set a $112.00 price objective on shares of Coupa Software in a report on Tuesday, March 17th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and seventeen have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus price target of $174.46.
Coupa Software Profile
Coupa Software, Inc engages in providing business spend management (BSM) solutions. It offers cloud-based BSM platform that delivers a broad range of capabilities that would typically require the purchase and use of multiple disparate point applications. Its platform consists of procurement, invoicing, expense management and payments modules that form the transactional engine for managing a company’s business spend.
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