Lucha Capital Management LP Invests $5.43 Million in Coupa Software (COUP)
Lucha Capital Management LP acquired a new stake in Coupa Software (NASDAQ:COUP) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 187,400 shares of the technology company’s stock, valued at approximately $5,431,000. Coupa Software accounts for about 1.8% of Lucha Capital Management LP’s holdings, making the stock its 20th biggest position. Lucha Capital Management LP owned about 0.35% of Coupa Software at the end of the most recent reporting period.
Several other institutional investors have also recently made changes to their positions in the company. Nationwide Fund Advisors lifted its holdings in shares of Coupa Software by 228.8% in the second quarter. Nationwide Fund Advisors now owns 16,873 shares of the technology company’s stock valued at $489,000 after buying an additional 11,742 shares during the period. Ameriprise Financial Inc. lifted its holdings in shares of Coupa Software by 212.0% in the second quarter. Ameriprise Financial Inc. now owns 128,036 shares of the technology company’s stock valued at $3,711,000 after buying an additional 87,001 shares during the period. TIAA CREF Investment Management LLC lifted its holdings in shares of Coupa Software by 439.3% during the second quarter. TIAA CREF Investment Management LLC now owns 80,389 shares of the technology company’s stock valued at $2,330,000 after purchasing an additional 65,483 shares during the last quarter. Teachers Advisors LLC lifted its holdings in shares of Coupa Software by 254.5% during the second quarter. Teachers Advisors LLC now owns 53,893 shares of the technology company’s stock valued at $1,562,000 after purchasing an additional 38,690 shares during the last quarter. Finally, Alliancebernstein L.P. purchased a new stake in shares of Coupa Software during the second quarter valued at $1,272,000. Institutional investors and hedge funds own 63.60% of the company’s stock.
Shares of Coupa Software (COUP) traded down 0.19% on Monday, reaching $31.73. The company’s stock had a trading volume of 68,465 shares. Coupa Software has a 1-year low of $22.50 and a 1-year high of $41.61. The stock’s market cap is $1.70 billion. The company’s 50 day moving average is $31.50 and its 200-day moving average is $29.41.
Coupa Software (NASDAQ:COUP) last released its quarterly earnings results on Tuesday, September 5th. The technology company reported ($0.10) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.28) by $0.18. Coupa Software had a negative return on equity of 19.01% and a negative net margin of 24.00%. The firm had revenue of $44.60 million for the quarter, compared to the consensus estimate of $41.59 million. The business’s quarterly revenue was up 43.4% compared to the same quarter last year. On average, equities analysts predict that Coupa Software will post ($0.48) earnings per share for the current fiscal year.
COUP has been the subject of several analyst reports. Royal Bank Of Canada upped their target price on Coupa Software from $35.00 to $40.00 and gave the company an “outperform” rating in a report on Thursday, June 1st. Cantor Fitzgerald initiated coverage on Coupa Software in a report on Thursday, July 20th. They set an “overweight” rating and a $35.00 target price for the company. JMP Securities reaffirmed an “outperform” rating and set a $40.00 target price (up from $32.00) on shares of Coupa Software in a report on Tuesday, June 6th. Morgan Stanley reaffirmed an “equal weight” rating and set a $31.00 target price (up from $29.00) on shares of Coupa Software in a report on Saturday, June 3rd. Finally, Zacks Investment Research downgraded Coupa Software from a “hold” rating to a “sell” rating in a report on Friday, September 8th. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and seven have given a buy rating to the company. Coupa Software has a consensus rating of “Hold” and a consensus target price of $34.61.
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In other Coupa Software news, insider Anthony D. Tiscornia sold 2,171 shares of Coupa Software stock in a transaction dated Friday, June 23rd. The stock was sold at an average price of $30.60, for a total value of $66,432.60. Following the sale, the insider now owns 1,911 shares of the company’s stock, valued at approximately $58,476.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Todd R. Ford sold 1,446 shares of Coupa Software stock in a transaction dated Wednesday, June 21st. The shares were sold at an average price of $30.70, for a total value of $44,392.20. Following the completion of the sale, the chief financial officer now directly owns 4,059 shares in the company, valued at approximately $124,611.30. The disclosure for this sale can be found here. Insiders sold a total of 1,854,288 shares of company stock worth $57,709,112 in the last three months. Company insiders own 32.10% of the company’s stock.
Coupa Software Company Profile
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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