Lisanti Capital Growth LLC cut its stake in Coupa Software Inc (NASDAQ:COUP) by 11.6% in the 3rd quarter, HoldingsChannel reports. The fund owned 33,410 shares of the technology company’s stock after selling 4,370 shares during the quarter. Lisanti Capital Growth LLC’s holdings in Coupa Software were worth $2,643,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Sylebra HK Co Ltd raised its holdings in Coupa Software by 4.5% in the 2nd quarter. Sylebra HK Co Ltd now owns 3,533,098 shares of the technology company’s stock valued at $219,900,000 after acquiring an additional 150,823 shares in the last quarter. BlackRock Inc. raised its holdings in Coupa Software by 58.9% in the 2nd quarter. BlackRock Inc. now owns 3,042,360 shares of the technology company’s stock valued at $189,357,000 after acquiring an additional 1,128,149 shares in the last quarter. Whale Rock Capital Management LLC raised its holdings in Coupa Software by 16.8% in the 2nd quarter. Whale Rock Capital Management LLC now owns 2,267,803 shares of the technology company’s stock valued at $141,148,000 after acquiring an additional 326,727 shares in the last quarter. FMR LLC raised its holdings in Coupa Software by 42.3% in the 2nd quarter. FMR LLC now owns 1,774,407 shares of the technology company’s stock valued at $110,439,000 after acquiring an additional 527,529 shares in the last quarter. Finally, Northern Trust Corp raised its holdings in Coupa Software by 71.4% in the 2nd quarter. Northern Trust Corp now owns 594,330 shares of the technology company’s stock valued at $36,992,000 after acquiring an additional 247,680 shares in the last quarter. 97.18% of the stock is owned by hedge funds and other institutional investors.
In other Coupa Software news, insider Anthony D. Tiscornia sold 2,632 shares of the company’s stock in a transaction dated Friday, October 12th. The stock was sold at an average price of $63.05, for a total value of $165,947.60. Following the completion of the transaction, the insider now owns 2,371 shares of the company’s stock, valued at approximately $149,491.55. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Mark Riggs sold 7,908 shares of the company’s stock in a transaction dated Wednesday, October 31st. The stock was sold at an average price of $65.00, for a total value of $514,020.00. The disclosure for this sale can be found here. In the last ninety days, insiders sold 293,604 shares of company stock valued at $20,556,439. Insiders own 6.50% of the company’s stock.
Coupa Software (NASDAQ:COUP) last posted its quarterly earnings results on Tuesday, September 4th. The technology company reported ($0.17) EPS for the quarter, topping analysts’ consensus estimates of ($0.30) by $0.13. Coupa Software had a negative return on equity of 16.73% and a negative net margin of 22.52%. The company had revenue of $61.65 million during the quarter, compared to analysts’ expectations of $56.61 million. Sell-side analysts predict that Coupa Software Inc will post -0.98 earnings per share for the current fiscal year.
Several equities analysts have weighed in on COUP shares. Morgan Stanley lifted their price objective on Coupa Software from $57.00 to $62.00 and gave the company an “equal weight” rating in a report on Tuesday, September 4th. Northland Securities cut Coupa Software from an “outperform” rating to a “market perform” rating in a report on Tuesday, September 11th. Zacks Investment Research raised Coupa Software from a “hold” rating to a “buy” rating and set a $70.00 price target for the company in a report on Monday, August 6th. Oppenheimer boosted their price target on Coupa Software from $62.00 to $77.00 and gave the stock an “outperform” rating in a report on Wednesday, August 29th. Finally, Cantor Fitzgerald boosted their price target on Coupa Software from $67.00 to $92.00 and gave the stock an “overweight” rating in a report on Wednesday, September 5th. Eight research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. Coupa Software currently has a consensus rating of “Buy” and a consensus target price of $63.69.
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Coupa Software 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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