Needham Investment Management LLC Has $498,000 Stake in Coupa Software Inc (COUP)

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Needham Investment Management LLC reduced its stake in shares of Coupa Software Inc (NASDAQ:COUP) by 15.8% during the second quarter, HoldingsChannel reports. The institutional investor owned 8,000 shares of the technology company’s stock after selling 1,500 shares during the period. Needham Investment Management LLC’s holdings in Coupa Software were worth $498,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently bought and sold shares of COUP. Whale Rock Capital Management LLC purchased a new position in shares of Coupa Software during the 1st quarter valued at about $88,552,000. Alkeon Capital Management LLC purchased a new position in shares of Coupa Software during the 1st quarter valued at about $60,296,000. BlackRock Inc. lifted its position in shares of Coupa Software by 58.9% during the 2nd quarter. BlackRock Inc. now owns 3,042,360 shares of the technology company’s stock valued at $189,357,000 after buying an additional 1,128,149 shares in the last quarter. FMR LLC lifted its position in shares of Coupa Software by 42.3% during the 2nd quarter. FMR LLC now owns 1,774,407 shares of the technology company’s stock valued at $110,439,000 after buying an additional 527,529 shares in the last quarter. Finally, OppenheimerFunds Inc. purchased a new position in shares of Coupa Software during the 2nd quarter valued at about $18,291,000. 98.31% of the stock is currently owned by hedge funds and other institutional investors.

COUP has been the topic of a number of analyst reports. Zacks Investment Research cut Coupa Software from a “buy” rating to a “hold” rating in a research report on Friday, June 8th. Morgan Stanley boosted their price target on Coupa Software from $57.00 to $62.00 and gave the stock an “equal weight” rating in a report on Tuesday. Oppenheimer boosted their price target on Coupa Software from $55.00 to $62.00 and gave the stock an “outperform” rating in a report on Thursday, May 31st. Needham & Company LLC boosted their price target on Coupa Software from $55.00 to $63.00 and gave the stock a “buy” rating in a report on Tuesday, June 5th. Finally, SunTrust Banks boosted their price target on Coupa Software to $65.00 and gave the stock a “buy” rating in a report on Tuesday, June 5th. Six research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. The company currently has an average rating of “Buy” and an average price target of $62.69.

NASDAQ:COUP opened at $76.88 on Thursday. The company has a debt-to-equity ratio of 0.67, a quick ratio of 3.27 and a current ratio of 3.27. Coupa Software Inc has a 1 year low of $29.90 and a 1 year high of $84.53. The company has a market capitalization of $4.09 billion, a price-to-earnings ratio of -101.16 and a beta of 1.09.

Coupa Software (NASDAQ:COUP) last released its quarterly earnings data on Monday, June 4th. The technology company reported ($0.01) earnings per share (EPS) for the quarter, topping the Zacks’ 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 business had revenue of $56.35 million for the quarter, compared to the consensus estimate of $51.33 million. During the same quarter in the previous year, the company posted ($0.09) EPS. The company’s revenue was up 37.0% compared to the same quarter last year. equities analysts expect that Coupa Software Inc will post -1.11 earnings per share for the current fiscal year.

In other Coupa Software news, CFO Todd R. Ford sold 12,500 shares of Coupa Software stock in a transaction that occurred on Friday, August 17th. The stock was sold at an average price of $66.73, for a total value of $834,125.00. Following the sale, the chief financial officer now owns 24,036 shares of the company’s stock, valued at approximately $1,603,922.28. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Robert Bernshteyn sold 63,225 shares of Coupa Software stock in a transaction that occurred on Monday, June 18th. The stock was 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 directly owns 199,637 shares in the company, valued at approximately $5,308,347.83. The disclosure for this sale can be found here. In the last ninety days, insiders sold 333,998 shares of company stock worth $19,555,821. Corporate insiders own 6.50% of the company’s stock.

Coupa Software Profile

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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Institutional Ownership by Quarter for Coupa Software (NASDAQ:COUP)

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