The Manufacturers Life Insurance Company increased its position in shares of Coupa Software (NASDAQ:COUP) by 211.3% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 23,904 shares of the technology company’s stock after buying an additional 16,226 shares during the period. The Manufacturers Life Insurance Company ‘s holdings in Coupa Software were worth $693,000 at the end of the most recent reporting period.
A number of other large investors also recently added to or reduced their stakes in COUP. Sylebra HK Co Ltd increased its position in shares of Coupa Software by 6.5% during the 2nd quarter. Sylebra HK Co Ltd now owns 1,204,374 shares of the technology company’s stock worth $34,903,000 after purchasing an additional 73,654 shares in the last quarter. Vanguard Group Inc. grew its holdings in Coupa Software by 260.3% during the 2nd quarter. Vanguard Group Inc. now owns 2,700,303 shares of the technology company’s stock worth $78,254,000 after acquiring an additional 1,950,862 shares during the last quarter. Capital World Investors grew its holdings in Coupa Software by 39.2% during the 2nd quarter. Capital World Investors now owns 1,837,112 shares of the technology company’s stock worth $53,240,000 after acquiring an additional 517,000 shares during the last quarter. Wells Fargo & Company MN grew its holdings in Coupa Software by 17.2% during the 2nd quarter. Wells Fargo & Company MN now owns 321,265 shares of the technology company’s stock worth $9,310,000 after acquiring an additional 47,131 shares during the last quarter. Finally, Lynch & Associates IN bought a new stake in Coupa Software during the 2nd quarter worth about $385,000. Hedge funds and other institutional investors own 76.68% of the company’s stock.
In other news, CEO Robert Bernshteyn sold 63,225 shares of the stock in a transaction on 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 completion of the transaction, the chief executive officer now owns 239,671 shares in the company, valued at approximately $8,558,651.41. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Todd R. Ford sold 12,000 shares of the stock in a transaction on Monday, September 18th. The stock was sold at an average price of $31.56, for a total value of $378,720.00. Following the transaction, the chief financial officer now owns 14,613 shares of the company’s stock, valued at approximately $461,186.28. The disclosure for this sale can be found here. Insiders sold a total of 480,279 shares of company stock valued at $15,821,352 over the last three months. 32.10% of the stock is currently owned by insiders.
Coupa Software (NASDAQ COUP) traded down $2.32 during trading on Monday, hitting $33.62. The stock had a trading volume of 1,528,557 shares, compared to its average volume of 466,362. Coupa Software has a one year low of $22.50 and a one year high of $37.72.
Coupa Software (NASDAQ:COUP) last issued its earnings results on Monday, December 4th. The technology company reported ($0.05) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.25) by $0.20. Coupa Software had a negative return on equity of 19.01% and a negative net margin of 24.00%. The company had revenue of $47.30 million for the quarter, compared to analyst estimates of $45.02 million. During the same period in the prior year, the firm earned ($0.22) earnings per share. Coupa Software’s revenue for the quarter was up 33.6% on a year-over-year basis. analysts expect that Coupa Software will post -1 EPS for the current fiscal year.
COUP has been the topic of several recent research reports. Royal Bank Of Canada reaffirmed a “buy” rating and issued a $41.00 target price on shares of Coupa Software in a research note on Wednesday, November 15th. Zacks Investment Research raised shares of Coupa Software from a “sell” rating to a “hold” rating in a research note on Tuesday, November 7th. First Analysis assumed coverage on shares of Coupa Software in a research note on Monday, August 7th. They set an “overweight” rating and a $37.00 price objective on the stock. Northland Securities restated a “buy” rating and set a $38.00 target price on shares of Coupa Software in a report on Thursday, August 10th. Finally, Cantor Fitzgerald restated a “buy” rating and set a $36.00 target price on shares of Coupa Software in a report on Wednesday, September 6th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and seven have assigned a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus price target of $35.66.
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Coupa Software 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.
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