Teacher Retirement System of Texas grew its stake in Coupa Software Inc (NASDAQ:COUP) by 50.4% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 8,931 shares of the technology company’s stock after purchasing an additional 2,994 shares during the quarter. Teacher Retirement System of Texas’ holdings in Coupa Software were worth $556,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Oppenheimer & Co. Inc. bought a new position in Coupa Software in the first quarter valued at approximately $282,000. Great Lakes Advisors LLC bought a new position in Coupa Software in the first quarter valued at approximately $7,039,000. Schwab Charles Investment Management Inc. grew its stake in Coupa Software by 7.0% in the first quarter. Schwab Charles Investment Management Inc. now owns 148,000 shares of the technology company’s stock valued at $6,752,000 after purchasing an additional 9,653 shares in the last quarter. ETRADE Capital Management LLC bought a new position in Coupa Software in the first quarter valued at approximately $370,000. Finally, Affinity Investment Advisors LLC bought a new position in Coupa Software in the first quarter valued at approximately $341,000. Institutional investors and hedge funds own 98.31% of the company’s stock.
A number of research firms have weighed in on COUP. Loop Capital raised their price target on Coupa Software to $72.00 and gave the company a “hold” rating in a research note on Wednesday. Needham & Company LLC raised their price target on Coupa Software from $63.00 to $83.00 and gave the company a “buy” rating in a research note on Wednesday. Royal Bank of Canada raised their price target on Coupa Software to $83.00 and gave the company an “outperform” rating in a research note on Wednesday. Raymond James raised their price target on Coupa Software from $60.00 to $86.00 and gave the company an “outperform” rating in a research note on Wednesday. Finally, Cantor Fitzgerald raised their price target on Coupa Software from $67.00 to $92.00 and gave the company an “overweight” rating in a research note on Wednesday. Six analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. The company presently has an average rating of “Buy” and an average price target of $62.69.
In related news, CRO Steven M. Winter sold 11,336 shares of the business’s stock in a transaction on Tuesday, June 12th. The stock was sold at an average price of $61.49, for a total value of $697,050.64. Following the completion of the sale, the executive now directly owns 12,480 shares in the company, valued at approximately $767,395.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Robert Bernshteyn sold 63,225 shares of the business’s stock in a transaction on Monday, June 18th. The shares were sold at an average price of $26.59, for a total value of $1,681,152.75. Following the completion of the sale, the chief executive officer now owns 199,637 shares of the company’s stock, valued at $5,308,347.83. The disclosure for this sale can be found here. Insiders have sold a total of 333,998 shares of company stock valued at $19,555,821 over the last quarter. 6.50% of the stock is currently owned by corporate insiders.
Shares of NASDAQ COUP opened at $76.88 on Thursday. The company has a quick ratio of 3.27, a current ratio of 3.27 and a debt-to-equity ratio of 0.67. Coupa Software Inc has a 12 month low of $29.90 and a 12 month high of $84.53. The company has a market cap of $4.09 billion, a PE ratio of -101.16 and a beta of 1.09.
Coupa Software (NASDAQ:COUP) last issued its earnings results on Monday, June 4th. The technology company reported ($0.01) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.11) by $0.10. Coupa Software had a negative return on equity of 19.17% and a negative net margin of 24.37%. The company had revenue of $56.35 million during the quarter, compared to the consensus estimate of $51.33 million. During the same period in the previous year, the company posted ($0.09) EPS. The firm’s revenue for the quarter was up 37.0% compared to the same quarter last year. research analysts expect that Coupa Software Inc will post -1.11 EPS for the current year.
About Coupa Software
Coupa Software Incorporated provides cloud-based spend management platform. The company's platform connects organization with suppliers globally; and provides visibility into and control over how companies spend money, as well as enables businesses to achieve savings that drive profitability. Its platform consists of procurement, invoicing, and expense management modules that form its transactional engine and capture a company's spend; and offers supporting modules, including sourcing, spend analysis, contract management, supplier management, and inventory management.
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