Tiverton Asset Management LLC Increases Holdings in Coupa Software Inc (NASDAQ:COUP)
Tiverton Asset Management LLC increased its position in Coupa Software Inc (NASDAQ:COUP) by 107.6% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,023 shares of the technology company’s stock after purchasing an additional 1,567 shares during the period. Tiverton Asset Management LLC’s holdings in Coupa Software were worth $383,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently modified their holdings of COUP. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in Coupa Software by 4.5% during the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,814 shares of the technology company’s stock worth $256,000 after acquiring an additional 121 shares in the last quarter. Rhumbline Advisers raised its stake in Coupa Software by 2.4% during the 1st quarter. Rhumbline Advisers now owns 73,642 shares of the technology company’s stock valued at $6,700,000 after acquiring an additional 1,755 shares in the last quarter. Robeco Institutional Asset Management B.V. increased its position in shares of Coupa Software by 174.5% during the 1st quarter. Robeco Institutional Asset Management B.V. now owns 21,276 shares of the technology company’s stock valued at $1,937,000 after purchasing an additional 13,524 shares during the period. Stevens Capital Management LP acquired a new stake in Coupa Software during the first quarter valued at approximately $315,000. Finally, State Board of Administration of Florida Retirement System grew its holdings in shares of Coupa Software by 4.1% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 23,230 shares of the technology company’s stock worth $2,113,000 after acquiring an additional 910 shares during the last quarter.
A number of analysts recently issued reports on COUP shares. Needham & Company LLC lifted their price objective on Coupa Software from $140.00 to $160.00 and gave the company a “buy” rating in a research report on Wednesday, September 4th. Wedbush lifted their target price on shares of Coupa Software from $168.00 to $180.00 and gave the company an “outperform” rating in a research note on Wednesday, September 4th. JPMorgan Chase & Co. set a $90.00 target price on shares of Coupa Software and gave the stock a “hold” rating in a research report on Friday, August 30th. Deutsche Bank began coverage on shares of Coupa Software in a research note on Wednesday, July 24th. They set a “hold” rating and a $150.00 price target on the stock. Finally, Goldman Sachs Group lifted their price objective on shares of Coupa Software from $140.00 to $174.00 and gave the company a “buy” rating in a research note on Wednesday, September 4th. Six equities research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus price target of $152.06.
Coupa Software (NASDAQ:COUP) last issued its quarterly earnings results on Tuesday, September 3rd. The technology company reported ($0.25) EPS for the quarter, topping analysts’ consensus estimates of ($0.44) by $0.19. Coupa Software had a negative return on equity of 13.73% and a negative net margin of 20.91%. The company had revenue of $95.00 million during the quarter, compared to analyst estimates of $85.38 million. During the same period in the previous year, the company earned $0.05 earnings per share. The company’s quarterly revenue was up 54.0% compared to the same quarter last year. Sell-side analysts expect that Coupa Software Inc will post -1.02 earnings per share for the current year.
In other Coupa Software news, Director Henry Tayloe Stansbury sold 10,000 shares of the firm’s stock in a transaction on Thursday, September 5th. The shares were sold at an average price of $148.45, for a total value of $1,484,500.00. Following the sale, the director now directly owns 18,307 shares in the company, valued at approximately $2,717,674.15. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Robert Bernshteyn sold 63,225 shares of the business’s stock in a transaction dated Monday, June 17th. The stock was sold at an average price of $122.25, for a total transaction of $7,729,256.25. Following the transaction, the chief executive officer now owns 217,632 shares in the company, valued at approximately $26,605,512. The disclosure for this sale can be found here. Insiders have sold 275,976 shares of company stock worth $37,309,318 in the last ninety days. 5.30% of the stock is currently owned by insiders.
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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