Ameriprise Financial Inc. Sells 79,380 Shares of Coupa Software Inc (NASDAQ:COUP)

Ameriprise Financial Inc. cut its stake in Coupa Software Inc (NASDAQ:COUP) by 62.0% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 48,656 shares of the technology company’s stock after selling 79,380 shares during the period. Ameriprise Financial Inc. owned 0.09% of Coupa Software worth $1,516,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its stake 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 valued at $78,254,000 after acquiring an additional 1,950,862 shares during the period. Capital World Investors boosted its position in shares of Coupa Software by 39.2% during the 2nd quarter. Capital World Investors now owns 1,837,112 shares of the technology company’s stock valued at $53,240,000 after acquiring an additional 517,000 shares during the last quarter. Sylebra HK Co Ltd boosted 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 valued at $34,903,000 after acquiring an additional 73,654 shares during the last quarter. Victory Capital Management Inc. acquired a new position in shares of Coupa Software during the 3rd quarter valued at about $24,428,000. Finally, Voya Investment Management LLC acquired a new position in shares of Coupa Software during the 2nd quarter valued at about $22,196,000. Institutional investors own 74.67% of the company’s stock.

Coupa Software Inc (COUP) opened at $34.00 on Tuesday. Coupa Software Inc has a 1 year low of $22.50 and a 1 year high of $37.72. The company has a market cap of $1,871.58, a PE ratio of -42.50 and a beta of 4.39.

Coupa Software (NASDAQ:COUP) last posted its earnings results on Monday, December 4th. The technology company reported ($0.05) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.11) by $0.06. The company had revenue of $47.30 million for the quarter, compared to analysts’ expectations of $45.02 million. Coupa Software had a negative net margin of 24.37% and a negative return on equity of 20.40%. Coupa Software’s revenue for the quarter was up 33.6% compared to the same quarter last year. During the same quarter in the prior year, the company posted ($0.22) earnings per share. research analysts predict that Coupa Software Inc will post -0.94 earnings per share for the current fiscal year.

In other news, insider Anthony D. Tiscornia sold 781 shares of the stock in a transaction dated Monday, November 13th. The shares were sold at an average price of $33.18, for a total transaction of $25,913.58. Following the sale, the insider now owns 521 shares of the company’s stock, valued at $17,286.78. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Anthony D. Tiscornia sold 782 shares of the stock in a transaction dated Tuesday, December 12th. The stock was sold at an average price of $34.00, for a total transaction of $26,588.00. Following the sale, the insider now directly owns 521 shares in the company, valued at approximately $17,714. The disclosure for this sale can be found here. Insiders have sold 333,717 shares of company stock worth $11,351,348 in the last three months. Corporate insiders own 32.10% of the company’s stock.

COUP has been the topic of several recent research reports. Royal Bank of Canada reissued a “buy” rating and set a $41.00 price target on shares of Coupa Software in a research report on Wednesday, November 15th. Barclays reissued a “hold” rating and set a $38.00 price target (up previously from $34.00) on shares of Coupa Software in a research report on Monday, November 27th. Raymond James Financial reissued a “buy” rating and set a $40.00 price target on shares of Coupa Software in a research report on Tuesday, December 12th. Cantor Fitzgerald reissued a “buy” rating and set a $36.00 price target on shares of Coupa Software in a research report on Tuesday, December 5th. Finally, CIBC initiated coverage on shares of Coupa Software in a research report on Friday, December 22nd. They set an “outperform” rating and a $41.00 price target on the stock. One research analyst has rated the stock with a sell rating, five have issued a hold rating and eleven have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average target price of $36.68.

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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)

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