TIAA CREF Investment Management LLC Sells 126 Shares of COUPA SOFTWARE (COUP)
TIAA CREF Investment Management LLC cut its position in COUPA SOFTWARE (NASDAQ:COUP) by 0.8% during the first quarter, according to its most recent 13F filing with the SEC. The fund owned 14,906 shares of the technology company’s stock after selling 126 shares during the period. TIAA CREF Investment Management LLC’s holdings in COUPA SOFTWARE were worth $379,000 as of its most recent SEC filing.
A number of other large investors have also made changes to their positions in the company. Nationwide Fund Advisors boosted its stake in shares of COUPA SOFTWARE by 22.7% in the first quarter. Nationwide Fund Advisors now owns 5,131 shares of the technology company’s stock worth $130,000 after buying an additional 949 shares during the period. American International Group Inc. acquired a new stake in shares of COUPA SOFTWARE during the first quarter worth $132,000. Teachers Advisors LLC acquired a new stake in shares of COUPA SOFTWARE during the fourth quarter worth $268,000. Norges Bank acquired a new stake in shares of COUPA SOFTWARE during the fourth quarter worth $500,000. Finally, Sumitomo Mitsui Asset Management Company LTD boosted its stake in shares of 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 worth $523,000 after buying an additional 5,900 shares during the period. Institutional investors and hedge funds own 64.35% of the company’s stock.
COUPA SOFTWARE (NASDAQ:COUP) traded down 0.5531% during midday trading on Tuesday, hitting $30.7092. 104,039 shares of the stock were exchanged. The firm’s 50 day moving average price is $30.33 and its 200 day moving average price is $29.03. COUPA SOFTWARE has a 12 month low of $22.50 and a 12 month high of $41.61. The company’s market cap is $1.63 billion.
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, beating the Thomson Reuters’ 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. During the same period last year, the business earned ($1.76) EPS. The firm’s revenue was up 40.8% compared to the same quarter last year. On average, equities research analysts forecast that COUPA SOFTWARE will post ($0.51) earnings per share for the current fiscal year.
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A number of brokerages have weighed in on COUP. First Analysis began coverage on shares of COUPA SOFTWARE in a report on Monday, August 7th. They issued an “overweight” rating and a $37.00 price objective on the stock. Morgan Stanley restated an “equal weight” rating and issued a $31.00 price objective (up previously from $29.00) on shares of COUPA SOFTWARE in a report on Saturday, June 3rd. JMP Securities restated an “outperform” rating and issued a $40.00 price objective (up previously from $32.00) on shares of COUPA SOFTWARE in a report on Tuesday, June 6th. Royal Bank Of Canada increased their price target on shares of COUPA SOFTWARE from $35.00 to $40.00 and gave the company an “outperform” rating in a report on Thursday, June 1st. Finally, BTIG Research began coverage on shares of COUPA SOFTWARE in a report on Monday, June 12th. They set a “buy” rating and a $44.00 price target on the stock. One research analyst has rated the stock with a sell rating, five have given a hold rating and seven have given a buy rating to the company. The company presently has an average rating of “Hold” and an average price target of $34.45.
In other COUPA SOFTWARE news, major shareholder Ix Lp Mdv sold 1,662,000 shares of the firm’s stock in a transaction that occurred on Wednesday, July 12th. The shares were sold at an average price of $31.25, for a total transaction of $51,937,500.00. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, 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 transaction of $394,861.20. Following the sale, the insider now directly owns 79,061 shares in the company, valued at approximately $2,777,412.93. The disclosure for this sale can be found here. In the last three months, insiders have sold 1,851,944 shares of company stock worth $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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