Mitsubishi UFJ Trust & Banking Corp Raises Holding in Coupa Software Incorporated (Nasdaq: COUP)

Mitsubishi UFJ Trust & Banking Corp raised shares of Coupa Software Incorporated (NASDAQ:COUP – Get Rating) 16.3% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 40,816 shares of the technology company’s stock after buying an additional 5,708 shares during the period. Mitsubishi UFJ Trust & Banking Corp’s holding in Coupa Software was $2,331,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Handelsbanken Fonder AB increased its stake in Coupa Software shares to 46.9% during the second quarter. Handelsbanken Fonder AB now owns 11,600 shares of the technology company valued at $662,000 after buying an additional 3,701 shares in the last quarter. Quantino Capital Management LP increased its holding in shares of Coupa Software by 186.6% during the first quarter. Quantino Capital Management LP now owns 7,145 shares of the technology company’s stock valued at $726,000 after buying an additional 4,652 shares in the last quarter. Ergotels LLC increased its stake in Coupa Software’s shares by 325.4% during the first quarter. Ergotels LLC now owns 137,105 shares of the technology company’s stock worth $13,934,000 after purchasing an additional 104,877 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. increased its holding in the shares of Coupa Software to 60.6% during the second quarter. Mirae Asset Global Investments Co. Ltd. now owns 396,079 shares of the technology company valued at $22,616,000 after buying an additional 149,507 shares in the last quarter. Finally, Eminence Capital LP purchased a new position in shares of Coupa Software during the first quarter valued at approximately $136,679,000.

Coupa Software Price Performance

Shares of NASDAQ COUP opened on Friday at $45.87. Coupa Software Incorporated’s 1-Year Low is $40.29 and 1-Year High is $225.18. The 50-day moving average is trading at $56.18 and the 200-day moving average at $62.33. The company’s debt-to-equity ratio is 6.81, current ratio is 1.82 and quick ratio is 1.82. The company has a market capitalization of $3.48 billion, a price-to-earnings ratio of -9.99 and a beta of 1.31.

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Coupa Software (NASDAQ: COUP – Get Rating) last issued its earnings results on Tuesday, September 6. The technology company reported earnings per share ($0.52) for the quarter, topping the consensus estimate of $0.13 ($0.65). Coupa Software had a negative return on equity of 24.29% and a negative net margin of 43.73%. The company had revenue of $211.10 million during the quarter, compared to the consensus estimate of $203.99 million. During the same quarter last year, the business earned ($0.35) per share. The company’s revenue was up 17.8% compared to the same quarter last year. On average, equity analysts expect Coupa Software Incorporated to post -2.26 EPS for the current fiscal year.

Insider trading on Coupa Software

In other news, CFO Anthony D. Tiscornia sold 1,449 shares of the company’s stock in a transaction on Wednesday, September 21. The stock was sold at an average price of $66.20 for a total value of $95,923.80. Following the completion of the sale, the chief financial officer now owns 7,874 shares of the company’s stock, valued at $521,258.80. The sale was disclosed in a document filed with the Securities and Exchange Commission, which is available via this link. In related news, CFO Anthony D. Tiscornia sold 1,449 shares of the business’s stock in a transaction on Wednesday, Sept. 21. The stock was sold at an average price of $66.20 for a total value of $95,923.80. Following the transaction, the chief financial officer now holds 7,874 shares in the company valued at $521,258.80. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Additionally, CAO Maurizio Baratta sold 598 shares of the business’s stock in a transaction on Wednesday, Sep 21. The stock was sold at an average price of $66.20, for a total value of $39,587.60. Following the completion of the transaction, the chief accounting officer now holds 5,265 shares in the company, valued at approximately $348,543. Disclosure of this sale can be found here. Insiders sold 18,437 shares of company stock worth $1,205,646 in the last quarter. Company insiders hold 2.20% of the company’s stock.

Wall Street analysts forecast growth

Several analysts recently issued reports on COUP shares. KeyCorp cut its target price on shares of Coupa Software from $75.00 to $70.00 and set an “overweight” rating on the stock in a research report on Tuesday, August 30. DA Davidson cut his target price on shares of Coupa Software from $75.00 to $70.00 and set a “neutral” rating on the stock in a research report on Wednesday, September 7. UBS Group downgraded shares of Coupa Software to “Underweight” rating in a research report on Thursday, October 20. Truest Financial cut its target price on shares of Coupa Software from $85.00 to $75.00 and set a “buy” rating on the stock in a research report on Wednesday, September 7. Finally, Piper Sandler downgraded shares of Coupa Software from a “neutral” rating to an “underweight” rating and cut their target price for the stock from $67.00 to $55.00 in a research report on Wednesday, October 19. Six research analysts have a sell rating on the stock, six have issued a hold rating and nine have issued a buy rating on the stock. The stock has an average rating of “Hold” and an average price target of $88.85, according to MarketBeat.com.

Coopa Software Company Profile

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Coupa Software Incorporated provides a cloud-based business expense management platform that connects its customers with suppliers around the world. Provides control and visibility into how a company spends money, optimizes supply chain, and manages liquidity, as well as enables businesses to achieve savings that drive profitability.

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

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