American International Group Inc. bought a new stake in Coupa Software (NASDAQ:COUP) during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 5,214 shares of the technology company’s stock, valued at approximately $132,000.
Several other large investors have also recently added to or reduced their stakes in the company. Nationwide Fund Advisors raised 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 during the period. Metropolitan Life Insurance Co. NY purchased a new stake in Coupa Software during the fourth quarter valued at about $260,000. Teachers Advisors LLC purchased a new stake in Coupa Software during the fourth quarter valued at about $268,000. Norges Bank bought a new position in Coupa Software during the fourth quarter valued at approximately $500,000. Finally, Sumitomo Mitsui Asset Management Company LTD increased its position in Coupa Software by 40.1% in the first quarter. Sumitomo Mitsui Asset Management Company LTD now owns 20,600 shares of the technology company’s stock valued at $523,000 after buying an additional 5,900 shares in the last quarter. Hedge funds and other institutional investors own 54.10% of the company’s stock.
Shares of Coupa Software (NASDAQ:COUP) opened at 29.84 on Friday. The company’s market capitalization is $1.58 billion. Coupa Software has a 12-month low of $22.50 and a 12-month high of $41.61. The stock has a 50 day moving average of $30.26 and a 200-day moving average of $28.88.
Coupa Software (NASDAQ:COUP) last issued its earnings results on Monday, June 5th. The technology company reported ($0.09) earnings per share for the quarter, topping the consensus estimate of ($0.14) by $0.05. The firm had revenue of $41.10 million during the quarter, compared to analyst estimates of $38.33 million. The business’s revenue for the quarter was up 40.8% on a year-over-year basis. During the same period in the previous year, the company earned ($1.76) earnings per share. Analysts predict that Coupa Software will post ($0.51) earnings per share for the current fiscal year.
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Several research firms recently commented on COUP. JMP Securities reaffirmed an “outperform” rating and issued a $40.00 price target (up previously from $32.00) on shares of Coupa Software in a research note on Tuesday, June 6th. Barclays PLC raised their price target on shares of Coupa Software from $28.00 to $32.00 and gave the stock an “equal weight” rating in a research note on Tuesday, June 6th. BTIG Research began coverage on shares of Coupa Software in a research report on Monday, June 12th. They set a “buy” rating and a $44.00 target price on the stock. Northland Securities reissued a “buy” rating and set a $38.00 target price on shares of Coupa Software in a research report on Thursday, August 10th. Finally, J P Morgan Chase & Co reissued a “neutral” rating and set a $31.00 target price (up previously from $27.00) on shares of Coupa Software in a research report on Tuesday, June 6th. One analyst has rated the stock with a sell rating, five have given a hold rating and seven have assigned a buy rating to the stock. Coupa Software currently has a consensus rating of “Hold” and a consensus price target of $34.45.
In other Coupa Software news, insider Ravi Thakur sold 11,240 shares of the firm’s stock in a transaction that occurred on Thursday, June 1st. The stock was sold at an average price of $35.13, for a total value of $394,861.20. Following the completion of the sale, the insider now owns 79,061 shares in the company, valued at approximately $2,777,412.93. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Robert Bernshteyn sold 1,841 shares of the firm’s stock in a transaction that occurred on Wednesday, June 21st. The stock was sold at an average price of $30.70, for a total value of $56,518.70. Following the completion of the sale, the chief executive officer now owns 452,305 shares of the company’s stock, valued at approximately $13,885,763.50. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 1,851,944 shares of company stock valued at $57,689,982. 32.10% of the stock is owned by corporate 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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