Harvest Fund Management Co. Ltd Acquires Shares of 690 Coupa Software Inc (NASDAQ:COUP)

Harvest Fund Management Co. Ltd acquired a new stake in Coupa Software Inc (NASDAQ:COUP) in the 2nd quarter, Holdings Channel.com reports. The fund acquired 690 shares of the technology company’s stock, valued at approximately $87,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Raymond James Financial Services Advisors Inc. lifted its holdings in Coupa Software by 259.1% in the first quarter. Raymond James Financial Services Advisors Inc. now owns 16,016 shares of the technology company’s stock worth $1,457,000 after purchasing an additional 11,556 shares during the period. New York State Common Retirement Fund raised its position in Coupa Software by 12.5% in the first quarter. New York State Common Retirement Fund now owns 126,075 shares of the technology company’s stock worth $11,470,000 after acquiring an additional 14,038 shares in the last quarter. Great West Life Assurance Co. Can raised its position in Coupa Software by 15.9% in the first quarter. Great West Life Assurance Co. Can now owns 5,990 shares of the technology company’s stock worth $543,000 after acquiring an additional 822 shares in the last quarter. Parametric Portfolio Associates LLC raised its position in Coupa Software by 99.8% in the first quarter. Parametric Portfolio Associates LLC now owns 171,999 shares of the technology company’s stock worth $15,648,000 after acquiring an additional 85,916 shares in the last quarter. Finally, Royce & Associates LP bought a new stake in Coupa Software in the first quarter worth about $1,365,000.

Several equities research analysts have commented on COUP shares. Morgan Stanley boosted their price target on shares of Coupa Software from $122.00 to $146.00 and gave the stock an “equal weight” rating in a research report on Wednesday, September 4th. Loop Capital boosted their price target on shares of Coupa Software to $125.00 and gave the stock a “buy” rating in a research report on Thursday, June 6th. Barclays boosted their price target on shares of Coupa Software from $101.00 to $139.00 and gave the stock an “equal weight” rating in a research report on Wednesday, September 4th. Deutsche Bank started coverage on shares of Coupa Software in a research report on Wednesday, July 24th. They issued a “hold” rating and a $150.00 price target on the stock. Finally, Zacks Investment Research upgraded shares of Coupa Software from a “hold” rating to a “buy” rating and set a $166.00 price target on the stock in a research report on Monday, September 9th. Six investment analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has assigned a strong buy rating to the stock. Coupa Software currently has a consensus rating of “Buy” and an average target price of $154.90.

In related news, CAO Anthony D. Tiscornia sold 260 shares of the business’s stock in a transaction that occurred on Thursday, September 5th. The stock was sold at an average price of $146.42, for a total value of $38,069.20. Following the completion of the sale, the chief accounting officer now owns 260 shares of the company’s stock, valued at approximately $38,069.20. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, Director Henry Tayloe Stansbury sold 10,000 shares of the business’s stock in a transaction that occurred on Thursday, September 5th. The shares were sold at an average price of $148.45, for a total value of $1,484,500.00. Following the completion of the sale, the director now directly owns 18,307 shares of the company’s stock, valued at approximately $2,717,674.15. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 303,054 shares of company stock worth $42,212,802. Company insiders own 5.30% of the company’s stock.

NASDAQ COUP traded up $1.07 on Monday, hitting $128.96. 866,139 shares of the company were exchanged, compared to its average volume of 2,524,732. The company’s 50 day moving average price is $138.90 and its 200-day moving average price is $119.66. The company has a debt-to-equity ratio of 1.25, a current ratio of 2.13 and a quick ratio of 2.13. The firm has a market capitalization of $8.04 billion, a P/E ratio of -192.48 and a beta of 1.60. Coupa Software Inc has a twelve month low of $52.01 and a twelve month high of $156.16.

Coupa Software (NASDAQ:COUP) last released its earnings results on Tuesday, September 3rd. The technology company reported ($0.25) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.44) by $0.19. Coupa Software had a negative return on equity of 13.73% and a negative net margin of 20.91%. The company had revenue of $95.00 million for the quarter, compared to analysts’ expectations of $85.38 million. During the same quarter in the previous year, the business posted $0.05 EPS. The business’s revenue for the quarter was up 54.0% on a year-over-year basis. As a group, equities analysts expect that Coupa Software Inc will post -1.02 EPS for the current year.

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

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