Hunt Lane Capital LP reduced its stake in shares of Coupa Software (NASDAQ:COUP) by 28.6% during the first quarter, according to its most recent disclosure with the SEC. The fund owned 500,000 shares of the technology company’s stock after selling 200,000 shares during the period. Coupa Software accounts for approximately 3.2% of Hunt Lane Capital LP’s portfolio, making the stock its 12th largest position. Hunt Lane Capital LP owned 0.99% of Coupa Software worth $12,700,000 at the end of the most recent reporting period.
Other large investors also recently bought and sold shares of the company. Nationwide Fund Advisors boosted its stake in Coupa Software by 22.7% in the first quarter. Nationwide Fund Advisors now owns 5,131 shares of the technology company’s stock valued at $130,000 after buying an additional 949 shares in the last quarter. American International Group Inc. bought a new stake in Coupa Software during the first quarter valued at approximately $132,000. Metropolitan Life Insurance Co. NY bought a new stake in Coupa Software during the fourth quarter valued at approximately $260,000. Teachers Advisors LLC bought a new stake in Coupa Software during the fourth quarter valued at approximately $268,000. Finally, Norges Bank bought a new stake in Coupa Software during the fourth quarter valued at approximately $500,000. 55.56% of the stock is owned by hedge funds and other institutional investors.
Coupa Software (NASDAQ COUP) traded up 3.00% on Friday, reaching $31.22. The company had a trading volume of 781,514 shares. The firm’s market capitalization is $1.65 billion. The stock’s 50-day moving average price is $31.55 and its 200 day moving average price is $27.52. Coupa Software has a 52-week low of $22.50 and a 52-week high of $41.61.
Coupa Software (NASDAQ:COUP) last announced its quarterly earnings results on Monday, June 5th. The technology company reported ($0.09) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.14) by $0.05. The company had revenue of $41.10 million during the quarter, compared to analyst estimates of $38.33 million. During the same quarter in the prior year, the company posted ($1.76) earnings per share. The firm’s revenue for the quarter was up 40.8% on a year-over-year basis. On average, equities analysts anticipate that Coupa Software will post ($0.51) earnings per share for the current fiscal year.
Several equities research analysts have issued reports on COUP shares. Morgan Stanley reissued an “equal weight” rating and set a $31.00 target price (up previously from $29.00) on shares of Coupa Software in a research note on Saturday, June 3rd. Zacks Investment Research raised Coupa Software from a “sell” rating to a “hold” rating in a research note on Friday, March 24th. JMP Securities reissued an “outperform” rating and set a $40.00 target price (up previously from $32.00) on shares of Coupa Software in a research note on Tuesday, June 6th. Royal Bank of Canada raised their target price on Coupa Software from $35.00 to $40.00 and gave the stock an “outperform” rating in a research note on Thursday, June 1st. Finally, BTIG Research started coverage on Coupa Software in a research note on Monday. They set a “buy” rating and a $44.00 target price for the company. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and four have issued a buy rating to the stock. Coupa Software currently has a consensus rating of “Hold” and a consensus target price of $33.79.
In other Coupa Software news, Director Charles Beeler sold 1,100,000 shares of the company’s stock in a transaction dated Tuesday, April 18th. The shares were sold at an average price of $24.05, for a total value of $26,455,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Ravi Thakur sold 20,000 shares of the company’s stock in a transaction dated Tuesday, April 4th. The shares were sold at an average price of $24.50, for a total transaction of $490,000.00. Following the completion of the transaction, the insider now directly owns 101,541 shares of the company’s stock, valued at $2,487,754.50. The disclosure for this sale can be found here. Over the last quarter, insiders sold 2,663,569 shares of company stock valued at $64,192,374. 32.10% of the stock is owned by insiders.
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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