Partner Fund Management L.P. reduced its holdings in shares of Coupa Software Inc (NASDAQ:COUP) by 10.4% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 479,934 shares of the technology company’s stock after selling 55,958 shares during the quarter. Partner Fund Management L.P. owned 0.83% of Coupa Software worth $37,963,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Sylebra HK Co Ltd grew its holdings in shares of Coupa Software by 4.5% during the second quarter. Sylebra HK Co Ltd now owns 3,533,098 shares of the technology company’s stock valued at $219,900,000 after buying an additional 150,823 shares during the last quarter. BlackRock Inc. grew its holdings in shares of Coupa Software by 14.4% during the third quarter. BlackRock Inc. now owns 3,480,491 shares of the technology company’s stock valued at $275,308,000 after buying an additional 438,131 shares during the last quarter. Whale Rock Capital Management LLC grew its holdings in shares of Coupa Software by 16.8% during the second quarter. Whale Rock Capital Management LLC now owns 2,267,803 shares of the technology company’s stock valued at $141,148,000 after buying an additional 326,727 shares during the last quarter. FMR LLC grew its holdings in shares of Coupa Software by 42.3% during the second quarter. FMR LLC now owns 1,774,407 shares of the technology company’s stock valued at $110,439,000 after buying an additional 527,529 shares during the last quarter. Finally, Jackson Square Partners LLC acquired a new position in shares of Coupa Software during the third quarter valued at about $87,361,000. Hedge funds and other institutional investors own 96.79% of the company’s stock.

A number of research analysts recently weighed in on the stock. Cantor Fitzgerald raised their price target on shares of Coupa Software from $67.00 to $92.00 and gave the company an “overweight” rating in a research report on Wednesday, September 5th. Northland Securities lowered shares of Coupa Software from an “outperform” rating to a “market perform” rating in a research report on Tuesday, September 11th. Zacks Investment Research raised shares of Coupa Software from a “hold” rating to a “buy” rating and set a $86.00 price target on the stock in a research report on Friday, September 7th. Barclays raised their price target on shares of Coupa Software from $53.00 to $58.00 and gave the company an “equal weight” rating in a research report on Wednesday, August 15th. Finally, Loop Capital raised their price target on shares of Coupa Software to $72.00 and gave the company a “hold” rating in a research report on Wednesday, September 5th. Seven research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. The company presently has an average rating of “Buy” and a consensus target price of $65.41.

COUP opened at $60.64 on Thursday. The stock has a market cap of $3.54 billion, a P/E ratio of -79.79 and a beta of 1.76. Coupa Software Inc has a fifty-two week low of $30.65 and a fifty-two week high of $84.53.

Coupa Software (NASDAQ:COUP) last announced its quarterly earnings data on Monday, December 3rd. The technology company reported $0.08 EPS for the quarter, topping the consensus estimate of ($0.03) by $0.11. The business had revenue of $67.46 million for the quarter, compared to analyst estimates of $62.59 million. Coupa Software had a negative net margin of 19.93% and a negative return on equity of 14.93%. The company’s revenue for the quarter was up 42.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.05) earnings per share. On average, research analysts predict that Coupa Software Inc will post -0.98 EPS for the current fiscal year.

In other Coupa Software news, insider Mark Riggs sold 644 shares of Coupa Software stock in a transaction dated Friday, November 30th. The shares were sold at an average price of $65.00, for a total value of $41,860.00. Following the sale, the insider now owns 1,141 shares of the company’s stock, valued at $74,165. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Robert Bernshteyn sold 63,225 shares of Coupa Software stock in a transaction dated Monday, November 19th. The stock was sold at an average price of $56.06, for a total transaction of $3,544,393.50. The disclosure for this sale can be found here. In the last ninety days, insiders sold 284,248 shares of company stock worth $19,036,803. Insiders own 6.50% of the company’s stock.

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Coupa Software Profile

Coupa Software Incorporated provides cloud-based spend management platform. The company's platform connects organization with suppliers globally; and provides visibility into and control over how companies spend money, as well as enables businesses to achieve savings that drive profitability. Its platform consists of procurement, invoicing, and expense management modules that form its transactional engine and capture a company's spend; and offers supporting modules, including sourcing, spend analysis, contract management, supplier management, and inventory management.

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

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