Victory Capital Management Inc. trimmed its position in Coupa Software Inc (NASDAQ:COUP) by 36.9% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 190,203 shares of the technology company’s stock after selling 111,386 shares during the quarter. Victory Capital Management Inc.’s holdings in Coupa Software were worth $52,694,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. Clearbridge Investments LLC purchased a new position in shares of Coupa Software in the first quarter worth $28,000. Lenox Wealth Advisors LLC purchased a new position in shares of Coupa Software in the second quarter worth $28,000. Synovus Financial Corp purchased a new position in Coupa Software during the 1st quarter valued at $46,000. Maverick Capital Ltd. purchased a new position in Coupa Software during the 1st quarter valued at $50,000. Finally, Steward Partners Investment Advisory LLC increased its position in Coupa Software by 132.4% during the 1st quarter. Steward Partners Investment Advisory LLC now owns 395 shares of the technology company’s stock valued at $55,000 after purchasing an additional 225 shares during the period.
Coupa Software stock traded up $7.34 during midday trading on Friday, hitting $305.86. The stock had a trading volume of 715,563 shares, compared to its average volume of 863,104. The firm’s fifty day moving average is $297.64 and its two-hundred day moving average is $209.66. The company has a market capitalization of $20.02 billion, a PE ratio of -226.56 and a beta of 1.49. Coupa Software Inc has a 52-week low of $99.01 and a 52-week high of $319.55. The company has a current ratio of 2.03, a quick ratio of 2.03 and a debt-to-equity ratio of 1.28.
Coupa Software (NASDAQ:COUP) last released its earnings results on Monday, June 8th. The technology company reported $0.20 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.07 by $0.13. The company had revenue of $119.21 million during the quarter, compared to analyst estimates of $111.84 million. Coupa Software had a negative net margin of 19.92% and a negative return on equity of 8.12%. The firm’s quarterly revenue was up 46.6% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.03 EPS. As a group, equities research analysts predict that Coupa Software Inc will post -0.9 earnings per share for the current fiscal year.
In other Coupa Software news, CEO Robert Bernshteyn sold 50,000 shares of Coupa Software stock in a transaction dated Friday, July 17th. The stock was sold at an average price of $300.75, for a total value of $15,037,500.00. Following the transaction, the chief executive officer now owns 239,216 shares in the company, valued at $71,944,212. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Mark Riggs sold 929 shares of Coupa Software stock in a transaction dated Friday, July 24th. The shares were sold at an average price of $290.43, for a total value of $269,809.47. Following the completion of the transaction, the insider now owns 644 shares in the company, valued at approximately $187,036.92. The disclosure for this sale can be found here. Insiders have sold a total of 188,748 shares of company stock valued at $52,618,316 over the last quarter. Corporate insiders own 3.40% of the company’s stock.
A number of research analysts have issued reports on COUP shares. Cantor Fitzgerald reissued an “overweight” rating on shares of Coupa Software in a research report on Monday, June 8th. FBN Securities upped their target price on shares of Coupa Software from $175.00 to $255.00 and gave the stock an “outperform” rating in a research report on Tuesday, June 30th. Zacks Investment Research downgraded shares of Coupa Software from a “hold” rating to a “sell” rating in a research report on Monday. Goldman Sachs Group upped their target price on shares of Coupa Software from $245.00 to $322.00 and gave the stock a “buy” rating in a research report on Monday, June 29th. Finally, Needham & Company LLC upped their target price on shares of Coupa Software from $136.00 to $255.00 and gave the stock a “buy” rating in a research report on Tuesday, June 9th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and sixteen have given a buy rating to the company. The company has a consensus rating of “Buy” and a consensus price target of $213.04.
Coupa Software Company Profile
Coupa Software, Inc engages in providing business spend management (BSM) solutions. It offers cloud-based BSM platform that delivers a broad range of capabilities that would typically require the purchase and use of multiple disparate point applications. Its platform consists of procurement, invoicing, expense management and payments modules that form the transactional engine for managing a company’s business spend.
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