California Public Employees Retirement System increased its position in Coupa Software Inc (NASDAQ:COUP) by 20.1% in the second quarter, according to its most recent 13F filing with the SEC. The firm owned 14,097 shares of the technology company’s stock after purchasing an additional 2,355 shares during the period. California Public Employees Retirement System’s holdings in Coupa Software were worth $877,000 at the end of the most recent reporting period.
Other institutional investors have also recently bought and sold shares of the company. OppenheimerFunds Inc. acquired a new position in Coupa Software in the 2nd quarter worth approximately $18,291,000. Bank of New York Mellon Corp lifted its position in Coupa Software by 35.0% in the 2nd quarter. Bank of New York Mellon Corp now owns 219,325 shares of the technology company’s stock worth $13,651,000 after buying an additional 56,892 shares in the last quarter. Granahan Investment Management Inc. MA purchased a new stake in Coupa Software in the 2nd quarter worth approximately $14,331,000. Temasek Holdings Private Ltd lifted its position in Coupa Software by 56.1% in the 2nd quarter. Temasek Holdings Private Ltd now owns 37,217 shares of the technology company’s stock worth $2,316,000 after buying an additional 13,380 shares in the last quarter. Finally, Gilder Gagnon Howe & Co. LLC lifted its position in Coupa Software by 14.7% in the 2nd quarter. Gilder Gagnon Howe & Co. LLC now owns 220,608 shares of the technology company’s stock worth $13,731,000 after buying an additional 28,284 shares in the last quarter. 97.18% of the stock is owned by hedge funds and other institutional investors.
A number of equities research analysts have issued reports on the stock. Cantor Fitzgerald increased their target price on shares of Coupa Software from $67.00 to $92.00 and gave the stock an “overweight” rating in a research report on Wednesday, September 5th. Northland Securities downgraded shares of Coupa Software from an “outperform” rating to a “market perform” rating in a research report on Tuesday, September 11th. Zacks Investment Research upgraded shares of Coupa Software from a “hold” rating to a “buy” rating and set a $86.00 target price for the company in a research report on Friday, September 7th. Barclays increased their target price on shares of Coupa Software from $53.00 to $58.00 and gave the stock an “equal weight” rating in a research report on Wednesday, August 15th. Finally, Loop Capital increased their target price on shares of Coupa Software to $72.00 and gave the stock a “hold” rating in a research report on Wednesday, September 5th. Eight investment analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. Coupa Software currently has a consensus rating of “Buy” and an average price target of $63.69.
Coupa Software (NASDAQ:COUP) last released its quarterly earnings results on Tuesday, September 4th. The technology company reported ($0.17) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.30) by $0.13. The business had revenue of $61.65 million for the quarter, compared to the consensus estimate of $56.61 million. Coupa Software had a negative net margin of 22.52% and a negative return on equity of 16.73%. On average, sell-side analysts forecast that Coupa Software Inc will post -0.98 earnings per share for the current fiscal year.
In other news, CEO Robert Bernshteyn sold 63,225 shares of the firm’s stock in a transaction on Friday, August 17th. The shares were sold at an average price of $66.73, for a total transaction of $4,219,004.25. Following the transaction, the chief executive officer now owns 204,218 shares in the company, valued at approximately $13,627,467.14. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Mark Riggs sold 7,908 shares of the firm’s stock in a transaction on Wednesday, October 31st. The shares were sold at an average price of $65.00, for a total transaction of $514,020.00. The disclosure for this sale can be found here. Insiders have sold a total of 293,604 shares of company stock worth $20,556,439 in the last 90 days. 6.50% of the stock is owned by insiders.
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Coupa Software Company 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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