First Trust Advisors LP purchased a new stake in shares of Coupa Software (NASDAQ:COUP) during the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 41,092 shares of the technology company’s stock, valued at approximately $1,280,000. First Trust Advisors LP owned 0.08% of Coupa Software as of its most recent SEC filing.
Several other institutional investors and hedge funds also recently made changes to their positions in COUP. Vanguard Group Inc. grew its holdings in shares of Coupa Software by 260.3% during the second quarter. Vanguard Group Inc. now owns 2,700,303 shares of the technology company’s stock worth $78,254,000 after purchasing an additional 1,950,862 shares in the last quarter. Voya Investment Management LLC purchased a new position in shares of Coupa Software during the second quarter worth about $22,196,000. Janus Henderson Group PLC purchased a new position in shares of Coupa Software during the second quarter worth about $18,242,000. Federated Investors Inc. PA grew its holdings in shares of Coupa Software by 110.5% during the second quarter. Federated Investors Inc. PA now owns 1,073,100 shares of the technology company’s stock worth $31,098,000 after purchasing an additional 563,200 shares in the last quarter. Finally, Capital World Investors grew its holdings in shares of Coupa Software by 39.2% during the second 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 in the last quarter. Hedge funds and other institutional investors own 76.71% of the company’s stock.
Several brokerages have recently commented on COUP. Northland Securities reissued a “buy” rating and set a $38.00 price objective on shares of Coupa Software in a report on Thursday, August 10th. Barclays reissued a “hold” rating and set a $38.00 price objective (up previously from $34.00) on shares of Coupa Software in a report on Monday, November 27th. First Analysis began coverage on Coupa Software in a report on Monday, August 7th. They set an “overweight” rating and a $37.00 price objective for the company. ValuEngine raised Coupa Software from a “sell” rating to a “hold” rating in a report on Wednesday, October 18th. Finally, Zacks Investment Research raised Coupa Software from a “sell” rating to a “hold” rating in a report on Tuesday, November 7th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and seven have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus target price of $35.66.
Coupa Software (NASDAQ:COUP) last issued its earnings results on Tuesday, September 5th. The technology company reported ($0.10) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.28) by $0.18. The business had revenue of $44.60 million during the quarter, compared to analyst estimates of $41.59 million. Coupa Software had a negative return on equity of 19.01% and a negative net margin of 24.00%. The company’s quarterly revenue was up 43.4% on a year-over-year basis. equities analysts predict that Coupa Software will post -1 EPS for the current fiscal year.
In other Coupa Software news, insider Anthony D. Tiscornia sold 2,344 shares of the company’s stock in a transaction that occurred on Tuesday, September 12th. The stock was sold at an average price of $31.37, for a total value of $73,531.28. Following the completion of the sale, the insider now owns 1,563 shares of the company’s stock, valued at $49,031.31. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Todd R. Ford sold 12,000 shares of the company’s stock in a transaction that occurred 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 completion of the sale, the chief financial officer now directly owns 14,613 shares of the company’s stock, valued at approximately $461,186.28. The disclosure for this sale can be found here. In the last ninety days, insiders sold 480,279 shares of company stock valued at $15,821,352. 32.10% of the stock is owned by insiders.
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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.
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