Virginia Retirement Systems ET AL Invests $1.32 Million in Coupa Software Inc (NASDAQ:COUP)

Virginia Retirement Systems ET AL acquired a new position in Coupa Software Inc (NASDAQ:COUP) during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund acquired 10,400 shares of the technology company’s stock, valued at approximately $1,317,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Daiwa Securities Group Inc. bought a new stake in shares of Coupa Software in the 2nd quarter worth approximately $4,165,000. Affinity Wealth Management LLC bought a new stake in shares of Coupa Software in the 2nd quarter worth approximately $1,129,000. Moody Lynn & Lieberson LLC bought a new stake in shares of Coupa Software in the 2nd quarter worth approximately $1,635,000. World Asset Management Inc bought a new stake in shares of Coupa Software in the 2nd quarter worth approximately $247,000. Finally, Huntington National Bank boosted its position in shares of Coupa Software by 78.1% in the 2nd quarter. Huntington National Bank now owns 42,190 shares of the technology company’s stock worth $5,342,000 after purchasing an additional 18,500 shares in the last quarter. Hedge funds and other institutional investors own 98.92% of the company’s stock.

A number of analysts have recently commented on COUP shares. Barclays boosted their price target on Coupa Software from $95.00 to $101.00 and gave the stock an “equal weight” rating in a research report on Tuesday, June 4th. They noted that the move was a valuation call. Morgan Stanley boosted their price target on Coupa Software from $90.00 to $111.00 and gave the stock an “equal weight” rating in a research report on Tuesday, June 4th. Bank of America boosted their price target on Coupa Software from $125.00 to $140.00 and gave the stock a “buy” rating in a research report on Wednesday, June 26th. JPMorgan Chase & Co. boosted their price target on Coupa Software from $75.00 to $90.00 and gave the stock a “neutral” rating in a research report on Tuesday, June 4th. Finally, SunTrust Banks upped their price objective on Coupa Software to $120.00 and gave the company a “buy” rating in a research report on Tuesday, June 4th. Seven research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus price target of $123.33.

COUP stock traded down $0.31 during midday trading on Friday, hitting $137.76. The company’s stock had a trading volume of 567,609 shares, compared to its average volume of 1,361,485. The stock has a market capitalization of $8.53 billion, a P/E ratio of -205.61 and a beta of 1.61. Coupa Software Inc has a 12 month low of $52.01 and a 12 month high of $148.00. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.07 and a current ratio of 1.07. The business has a 50-day simple moving average of $136.16.

Coupa Software (NASDAQ:COUP) last announced its earnings results on Monday, June 3rd. The technology company reported $0.03 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.26) by $0.29. The business had revenue of $81.30 million during the quarter, compared to analyst estimates of $73.85 million. Coupa Software had a negative net margin of 21.22% and a negative return on equity of 14.29%. The company’s quarterly revenue was up 44.1% compared to the same quarter last year. During the same period in the previous year, the business earned ($0.01) EPS. On average, equities analysts predict that Coupa Software Inc will post -1.15 earnings per share for the current year.

In other Coupa Software news, insider Mark Riggs sold 930 shares of the business’s stock in a transaction on Friday, May 24th. The shares were sold at an average price of $111.71, for a total transaction of $103,890.30. Following the completion of the sale, the insider now directly owns 4,488 shares in the company, valued at approximately $501,354.48. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, insider Anthony D. Tiscornia sold 261 shares of the business’s stock in a transaction on Monday, May 13th. The shares were sold at an average price of $101.32, for a total transaction of $26,444.52. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 398,657 shares of company stock valued at $49,067,534. Company insiders own 5.30% of the company’s stock.

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.

Recommended Story: Hedge Funds – How They Work For Investors

Institutional Ownership by Quarter for Coupa Software (NASDAQ:COUP)

Receive News & Ratings for Coupa Software Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Coupa Software and related companies with MarketBeat.com's FREE daily email newsletter.