Shares of Coupa Software Inc (NASDAQ:COUP) hit a new 52-week high during mid-day trading on Tuesday . The company traded as high as $113.09 and last traded at $112.48, with a volume of 8473 shares traded. The stock had previously closed at $109.45.

COUP has been the subject of a number of analyst reports. Goldman Sachs Group initiated coverage on shares of Coupa Software in a research note on Friday, February 1st. They issued a “buy” rating and a $96.00 price objective for the company. Royal Bank of Canada increased their price objective on shares of Coupa Software from $84.00 to $104.00 and gave the stock an “outperform” rating in a research note on Friday, March 8th. Oppenheimer increased their price objective on shares of Coupa Software from $85.00 to $100.00 and gave the stock an “outperform” rating in a research note on Wednesday, March 13th. KeyCorp initiated coverage on shares of Coupa Software in a research note on Tuesday, April 30th. They issued an “overweight” rating and a $123.00 price objective for the company. Finally, Loop Capital increased their price objective on shares of Coupa Software to $105.00 and gave the stock a “buy” rating in a research note on Wednesday, March 13th. Six research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. Coupa Software currently has an average rating of “Buy” and a consensus price target of $96.80.

The stock has a market capitalization of $6.92 billion, a price-to-earnings ratio of -168.52 and a beta of 1.88.

Coupa Software (NASDAQ:COUP) last issued its earnings results on Monday, March 11th. The technology company reported ($0.18) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.26) by $0.08. Coupa Software had a negative net margin of 21.33% and a negative return on equity of 14.28%. The firm had revenue of $74.91 million during the quarter, compared to analyst estimates of $68.07 million. On average, analysts anticipate that Coupa Software Inc will post -0.78 earnings per share for the current year.

In other Coupa Software news, CEO Robert Bernshteyn sold 63,225 shares of the stock in a transaction on Monday, March 18th. The shares were sold at an average price of $93.47, for a total transaction of $5,909,640.75. Following the completion of the transaction, the chief executive officer now owns 213,050 shares in the company, valued at $19,913,783.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Henry Tayloe Stansbury sold 5,000 shares of the stock in a transaction on Friday, April 5th. The shares were sold at an average price of $90.10, for a total transaction of $450,500.00. Following the transaction, the director now owns 10,288 shares of the company’s stock, valued at approximately $926,948.80. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 327,555 shares of company stock valued at $31,869,193. 5.30% of the stock is owned by company insiders.

Hedge funds have recently added to or reduced their stakes in the business. Northern Trust Corp lifted its position in Coupa Software by 2.8% during the fourth quarter. Northern Trust Corp now owns 688,164 shares of the technology company’s stock valued at $43,257,000 after purchasing an additional 18,518 shares during the last quarter. Teachers Advisors LLC lifted its position in Coupa Software by 6.0% during the third quarter. Teachers Advisors LLC now owns 333,224 shares of the technology company’s stock valued at $26,358,000 after purchasing an additional 18,714 shares during the last quarter. Norges Bank bought a new position in Coupa Software during the fourth quarter valued at $19,200,000. Kornitzer Capital Management Inc. KS bought a new position in Coupa Software during the fourth quarter valued at $3,359,000. Finally, AGF Investments Inc. bought a new position in Coupa Software during the fourth quarter valued at $3,143,000. Institutional investors and hedge funds own 95.69% of the company’s stock.

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Coupa Software Company Profile (NASDAQ:COUP)

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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