JPMorgan Chase & Co. decreased its position in shares of Coupa Software Inc (NASDAQ:COUP) by 55.1% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 68,237 shares of the technology company’s stock after selling 83,861 shares during the quarter. JPMorgan Chase & Co.’s holdings in Coupa Software were worth $6,209,000 as of its most recent SEC filing.
A number of other institutional investors have also recently added to or reduced their stakes in the stock. Vanguard Group Inc boosted its stake in Coupa Software by 11.3% during the 3rd quarter. Vanguard Group Inc now owns 4,610,782 shares of the technology company’s stock worth $364,712,000 after acquiring an additional 467,714 shares during the last quarter. BlackRock Inc. lifted its stake in Coupa Software by 20.9% in the fourth quarter. BlackRock Inc. now owns 4,206,903 shares of the technology company’s stock valued at $264,447,000 after buying an additional 726,412 shares in the last quarter. Sylebra HK Co Ltd lifted its stake in Coupa Software by 2.4% in the fourth quarter. Sylebra HK Co Ltd now owns 3,562,820 shares of the technology company’s stock valued at $223,959,000 after buying an additional 81,852 shares in the last quarter. Whale Rock Capital Management LLC lifted its stake in Coupa Software by 1.9% in the fourth quarter. Whale Rock Capital Management LLC now owns 2,214,345 shares of the technology company’s stock valued at $139,194,000 after buying an additional 41,388 shares in the last quarter. Finally, FMR LLC lifted its stake in Coupa Software by 4.4% in the fourth quarter. FMR LLC now owns 1,855,180 shares of the technology company’s stock valued at $116,616,000 after buying an additional 77,458 shares in the last quarter. 99.86% of the stock is currently owned by institutional investors and hedge funds.
NASDAQ COUP opened at $121.30 on Friday. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 0.07. Coupa Software Inc has a 12-month low of $52.01 and a 12-month high of $129.40.
Coupa Software (NASDAQ:COUP) last posted its quarterly earnings data on Monday, June 3rd. The technology company reported $0.03 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.26) by $0.29. Coupa Software had a negative net margin of 21.22% and a negative return on equity of 14.29%. The company had revenue of $81.30 million for the quarter, compared to the consensus estimate of $73.85 million. During the same period last year, the company earned ($0.01) earnings per share. The firm’s revenue was up 44.1% compared to the same quarter last year. As a group, sell-side analysts predict that Coupa Software Inc will post -1.19 earnings per share for the current year.
In other news, Director Veenendaal Frank Van sold 1,299 shares of Coupa Software stock in a transaction that occurred on Friday, May 3rd. The shares were sold at an average price of $105.00, for a total value of $136,395.00. Following the sale, the director now directly owns 116,841 shares in the company, valued at $12,268,305. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Todd R. Ford sold 112,500 shares of Coupa Software stock in a transaction that occurred on Tuesday, June 11th. The shares were sold at an average price of $118.50, for a total transaction of $13,331,250.00. Following the completion of the sale, the chief financial officer now owns 30,595 shares in the company, valued at $3,625,507.50. The disclosure for this sale can be found here. Insiders sold 431,782 shares of company stock worth $44,695,368 over the last quarter. 5.30% of the stock is owned by corporate insiders.
COUP has been the topic of a number of research reports. JMP Securities reaffirmed a “hold” rating on shares of Coupa Software in a research note on Wednesday, March 13th. Oppenheimer lifted their price target on shares of Coupa Software from $85.00 to $100.00 and gave the company an “outperform” rating in a research note on Wednesday, March 13th. Zacks Investment Research raised shares of Coupa Software from a “hold” rating to a “buy” rating and set a $101.00 price target on the stock in a research note on Thursday, March 14th. Loop Capital lifted their price target on shares of Coupa Software to $105.00 and gave the company a “buy” rating in a research note on Wednesday, March 13th. Finally, 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 target on the stock. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and eleven have issued a buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus price target of $101.41.
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Coupa Software Company 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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