Schwab Charles Investment Management Inc. Reduces Stake in Coupa Software Inc (COUP)

Schwab Charles Investment Management Inc. lessened its holdings in shares of Coupa Software Inc (NASDAQ:COUP) by 10.1% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 111,772 shares of the technology company’s stock after selling 12,540 shares during the period. Schwab Charles Investment Management Inc. owned 0.21% of Coupa Software worth $3,482,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in the company. Vanguard Group Inc. boosted its holdings in shares of Coupa Software by 260.3% during the 2nd quarter. Vanguard Group Inc. now owns 2,700,303 shares of the technology company’s stock valued at $78,254,000 after buying an additional 1,950,862 shares in the last quarter. Capital World Investors raised its position in shares of Coupa Software by 39.2% in the 2nd quarter. Capital World Investors now owns 1,837,112 shares of the technology company’s stock worth $53,240,000 after purchasing an additional 517,000 shares during the last quarter. Sylebra HK Co Ltd raised its position in shares of Coupa Software by 6.5% in 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 during the last quarter. Soma Equity Partners LP raised its position in shares of Coupa Software by 60.0% in the 3rd quarter. Soma Equity Partners LP now owns 1,120,000 shares of the technology company’s stock worth $34,888,000 after purchasing an additional 420,000 shares during the last quarter. Finally, Victory Capital Management Inc. purchased a new position in shares of Coupa Software in the 3rd quarter worth about $24,428,000. Hedge funds and other institutional investors own 74.67% of the company’s stock.

Several equities analysts have recently issued reports on COUP shares. Royal Bank of Canada reaffirmed a “buy” rating and issued a $41.00 price target on shares of Coupa Software in a research report on Wednesday, November 15th. Zacks Investment Research raised Coupa Software from a “hold” rating to a “buy” rating and set a $36.00 price target for the company in a research report on Thursday, December 7th. Cantor Fitzgerald reaffirmed a “buy” rating and issued a $36.00 price target on shares of Coupa Software in a research report on Tuesday, December 5th. Oppenheimer started coverage on Coupa Software in a research report on Thursday, December 21st. They issued a “buy” rating and a $41.00 price target for the company. Finally, Raymond James Financial reaffirmed a “buy” rating and issued a $40.00 price target on shares of Coupa Software in a research report on Tuesday, December 12th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and eleven have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus price target of $36.68.

In other Coupa Software news, insider Anthony D. Tiscornia sold 781 shares of the business’s stock in a transaction dated Monday, November 13th. The stock was sold at an average price of $33.18, for a total value of $25,913.58. Following the completion of the transaction, the insider now owns 521 shares of the company’s stock, valued at approximately $17,286.78. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Ravi Thakur sold 11,240 shares of the business’s stock in a transaction dated Tuesday, January 2nd. The stock was sold at an average price of $32.04, for a total value of $360,129.60. Following the completion of the transaction, the insider now directly owns 14,306 shares of the company’s stock, valued at approximately $458,364.24. The disclosure for this sale can be found here. In the last three months, insiders sold 369,839 shares of company stock valued at $12,633,920. 32.10% of the stock is owned by insiders.

Coupa Software Inc (NASDAQ:COUP) opened at $34.00 on Monday. Coupa Software Inc has a 52-week low of $22.50 and a 52-week high of $37.72. The firm has a market capitalization of $1,871.58, a PE ratio of -42.50 and a beta of 4.39.

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 the Zacks’ consensus estimate of ($0.11) by $0.06. Coupa Software had a negative return on equity of 20.40% and a negative net margin of 24.37%. The business had revenue of $47.30 million during the quarter, compared to analyst estimates of $45.02 million. During the same quarter in the previous year, the firm earned ($0.22) EPS. Coupa Software’s revenue was up 33.6% on a year-over-year basis. analysts anticipate that Coupa Software Inc will post -0.94 earnings per share for the current year.

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About Coupa Software

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)

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