Polar Asset Management Partners Inc. Makes New Investment in Coupa Software Inc (NASDAQ:COUP)
Polar Asset Management Partners Inc. acquired a new position in shares of Coupa Software Inc (NASDAQ:COUP) during the 2nd quarter, according to its most recent 13F filing with the SEC. The fund acquired 52,600 shares of the technology company’s stock, valued at approximately $6,660,000.
Other hedge funds have also bought and sold shares of the company. Advantage Investment Management LLC purchased a new stake in Coupa Software during the 2nd quarter worth approximately $25,000. Patriot Financial Group Insurance Agency LLC purchased a new stake in Coupa Software during the 2nd quarter worth approximately $40,000. Destination Wealth Management purchased a new stake in Coupa Software during the 2nd quarter worth approximately $44,000. Neuburgh Advisers LLC increased its holdings in Coupa Software by 100.0% during the 2nd quarter. Neuburgh Advisers LLC now owns 352 shares of the technology company’s stock worth $45,000 after purchasing an additional 176 shares during the last quarter. Finally, Nisa Investment Advisors LLC increased its holdings in Coupa Software by 39.7% during the 2nd quarter. Nisa Investment Advisors LLC now owns 405 shares of the technology company’s stock worth $51,000 after purchasing an additional 115 shares during the last quarter.
In related news, CEO Robert Bernshteyn sold 63,225 shares of the business’s stock in a transaction that occurred on Tuesday, September 17th. The stock was sold at an average price of $137.19, for a total transaction of $8,673,837.75. Following the completion of the transaction, the chief executive officer now owns 224,352 shares in the company, valued at approximately $30,778,850.88. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Anthony D. Tiscornia sold 1,325 shares of the business’s stock in a transaction that occurred on Friday, July 12th. The shares were sold at an average price of $137.67, for a total value of $182,412.75. Following the transaction, the insider now owns 1,325 shares of the company’s stock, valued at approximately $182,412.75. The disclosure for this sale can be found here. Insiders have sold a total of 287,485 shares of company stock valued at $39,996,896 in the last 90 days. Insiders own 5.30% of the company’s stock.
Shares of NASDAQ COUP traded up $2.86 during trading on Monday, reaching $143.38. The stock had a trading volume of 73,857 shares, compared to its average volume of 2,120,132. Coupa Software Inc has a one year low of $52.01 and a one year high of $156.16. The stock has a market cap of $8.83 billion, a PE ratio of -213.37 and a beta of 1.60. The company has a debt-to-equity ratio of 1.25, a quick ratio of 2.13 and a current ratio of 2.13. The firm’s 50 day moving average price is $138.47 and its two-hundred day moving average price is $118.05.
Coupa Software (NASDAQ:COUP) last released its quarterly earnings data on Tuesday, September 3rd. The technology company reported ($0.25) earnings per share (EPS) for the quarter, beating the Zacks’ 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 business had revenue of $95.00 million during the quarter, compared to analyst estimates of $85.38 million. During the same quarter in the previous year, the firm posted $0.05 EPS. The business’s revenue for the quarter was up 54.0% compared to the same quarter last year. On average, research analysts expect that Coupa Software Inc will post -1.02 earnings per share for the current year.
About Coupa Software
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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