JPMorgan Chase & Co. Decreases Position in Coupa Software (COUP)

JPMorgan Chase & Co. cut its position in Coupa Software (NASDAQ:COUP) by 75.8% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 50,200 shares of the technology company’s stock after selling 157,466 shares during the quarter. JPMorgan Chase & Co. owned 0.09% of Coupa Software worth $1,455,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in COUP. BNP Paribas Arbitrage SA boosted its position in shares of Coupa Software by 2,294.8% during the 2nd quarter. BNP Paribas Arbitrage SA now owns 3,664 shares of the technology company’s stock worth $106,000 after acquiring an additional 3,511 shares in the last quarter. Nationwide Fund Advisors boosted its position in shares of Coupa Software by 22.7% during the 1st quarter. Nationwide Fund Advisors now owns 5,131 shares of the technology company’s stock worth $130,000 after acquiring an additional 949 shares in the last quarter. American International Group Inc. acquired a new position in shares of Coupa Software during the 1st quarter worth about $132,000. Teachers Advisors LLC purchased a new stake in shares of Coupa Software in the 4th quarter valued at about $268,000. Finally, Legal & General Group Plc lifted its holdings in shares of Coupa Software by 436.1% in the 2nd quarter. Legal & General Group Plc now owns 10,792 shares of the technology company’s stock valued at $312,000 after purchasing an additional 8,779 shares during the last quarter. 63.63% of the stock is owned by hedge funds and other institutional investors.

Several equities analysts have issued reports on the company. ValuEngine upgraded Coupa Software from a “sell” rating to a “hold” rating in a research report on Wednesday, October 18th. Northland Securities reiterated a “buy” rating and set a $38.00 target price on shares of Coupa Software in a research report on Thursday, August 10th. First Analysis began coverage on Coupa Software in a report on Monday, August 7th. They issued an “overweight” rating and a $37.00 price target on the stock. Cantor Fitzgerald restated a “buy” rating and issued a $36.00 price target on shares of Coupa Software in a report on Wednesday, September 6th. Finally, Royal Bank Of Canada upped their price target on Coupa Software from $40.00 to $41.00 and gave the stock an “outperform” rating in a report on Wednesday, September 6th. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and seven have issued a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus price target of $35.16.

In other news, insider Anthony D. Tiscornia sold 2,344 shares of the firm’s stock in a transaction dated Tuesday, September 12th. The shares were sold at an average price of $31.37, for a total transaction of $73,531.28. Following the completion of the sale, the insider now owns 1,563 shares in the company, valued at approximately $49,031.31. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Robert Bernshteyn sold 63,225 shares of the firm’s stock in a transaction dated Wednesday, October 18th. The stock was sold at an average price of $35.71, for a total transaction of $2,257,764.75. Following the sale, the chief executive officer now owns 239,671 shares of the company’s stock, valued at approximately $8,558,651.41. The disclosure for this sale can be found here. In the last quarter, insiders sold 440,926 shares of company stock valued at $14,062,648. Corporate insiders own 32.10% of the company’s stock.

Coupa Software (NASDAQ:COUP) opened at 34.88 on Friday. Coupa Software has a 52 week low of $23.52 and a 52 week high of $36.43. The stock’s market cap is $1.87 billion. The firm’s 50 day moving average price is $33.07 and its 200-day moving average price is $33.07.

Coupa Software (NASDAQ:COUP) last announced its quarterly earnings results on Tuesday, September 5th. The technology company reported ($0.10) EPS for the quarter, beating analysts’ consensus estimates of ($0.28) by $0.18. The firm had revenue of $44.60 million during the quarter, compared to analysts’ expectations of $41.59 million. Coupa Software had a negative net margin of 24.00% and a negative return on equity of 19.01%. The company’s quarterly revenue was up 43.4% on a year-over-year basis. Analysts expect that Coupa Software will post ($0.48) EPS for the current year.

TRADEMARK VIOLATION WARNING: “JPMorgan Chase & Co. Decreases Position in Coupa Software (COUP)” was reported by Dispatch Tribunal and is owned by of Dispatch Tribunal. If you are accessing this report on another website, it was copied illegally and republished in violation of international trademark and copyright legislation. The legal version of this report can be read at https://www.dispatchtribunal.com/2017/10/27/coupa-software-coup-position-trimmed-by-jpmorgan-chase-co.html.

Coupa Software Company Profile

Coupa Software Incorporated is a United States-based company, which provides a unified, cloud-based spend management platform that connects organizations with suppliers globally. The Company offers spend management cloud applications, which are pre-integrated. The platform offers consumerized financial applications.

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.

Leave a Reply