California Public Employees Retirement System Sells 7,270 Shares of Coupa Software Incorporated (NASDAQ:COUP)

California Public Employees Retirement System lessened its holdings in shares of Coupa Software Incorporated (NASDAQ:COUPGet Rating) by 4.9% in the fourth quarter, Holdings Channel.com reports. The firm owned 141,332 shares of the technology company’s stock after selling 7,270 shares during the period. California Public Employees Retirement System’s holdings in Coupa Software were worth $22,338,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also modified their holdings of the business. M&T Bank Corp boosted its position in shares of Coupa Software by 5.3% in the fourth quarter. M&T Bank Corp now owns 3,094 shares of the technology company’s stock valued at $489,000 after acquiring an additional 155 shares during the period. Forsta AP Fonden boosted its position in shares of Coupa Software by 15.0% in the third quarter. Forsta AP Fonden now owns 16,100 shares of the technology company’s stock valued at $3,529,000 after acquiring an additional 2,100 shares during the period. Ensign Peak Advisors Inc boosted its position in shares of Coupa Software by 4.4% in the third quarter. Ensign Peak Advisors Inc now owns 21,004 shares of the technology company’s stock valued at $4,604,000 after acquiring an additional 889 shares during the period. Bristlecone Advisors LLC bought a new position in shares of Coupa Software in the fourth quarter valued at approximately $369,000. Finally, Cubist Systematic Strategies LLC boosted its position in shares of Coupa Software by 61.7% in the third quarter. Cubist Systematic Strategies LLC now owns 50,570 shares of the technology company’s stock valued at $11,084,000 after acquiring an additional 19,296 shares during the period. Hedge funds and other institutional investors own 95.45% of the company’s stock.

Shares of NASDAQ COUP opened at $73.15 on Friday. The company has a quick ratio of 1.79, a current ratio of 1.79 and a debt-to-equity ratio of 1.81. Coupa Software Incorporated has a 52 week low of $58.43 and a 52 week high of $283.38. The firm’s fifty day moving average is $93.80 and its 200 day moving average is $138.35.

Coupa Software (NASDAQ:COUPGet Rating) last issued its earnings results on Monday, March 14th. The technology company reported ($0.54) EPS for the quarter, topping the consensus estimate of ($0.75) by $0.21. Coupa Software had a negative net margin of 52.26% and a negative return on equity of 14.13%. The company had revenue of $193.30 million for the quarter, compared to the consensus estimate of $186.18 million. During the same period in the previous year, the firm earned ($0.82) earnings per share. The firm’s revenue for the quarter was up 18.2% on a year-over-year basis. Equities research analysts expect that Coupa Software Incorporated will post -2.43 EPS for the current fiscal year.

A number of equities analysts have recently commented on COUP shares. Truist Financial cut their price objective on shares of Coupa Software from $225.00 to $85.00 and set a “buy” rating for the company in a research report on Tuesday, March 15th. Evercore ISI upgraded shares of Coupa Software to a “buy” rating and set a $140.00 price objective for the company in a research report on Thursday, April 14th. Morgan Stanley reiterated a “buy” rating and set a $125.00 target price on shares of Coupa Software in a research report on Friday, April 8th. Royal Bank of Canada dropped their target price on shares of Coupa Software from $155.00 to $65.00 and set a “sector perform” rating for the company in a research report on Tuesday, March 15th. Finally, Raymond James dropped their target price on shares of Coupa Software from $195.00 to $75.00 and set an “outperform” rating for the company in a research report on Tuesday, March 15th. Two investment analysts have rated the stock with a sell rating, twelve have issued a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $141.25.

In other Coupa Software news, CEO Robert Bernshteyn sold 7,857 shares of the business’s stock in a transaction on Monday, March 21st. The shares were sold at an average price of $98.75, for a total transaction of $775,878.75. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Michelle Brennan acquired 375 shares of Coupa Software stock in a transaction on Wednesday, March 16th. The shares were bought at an average cost of $78.65 per share, for a total transaction of $29,493.75. The disclosure for this purchase can be found here. Over the last ninety days, insiders sold 17,266 shares of company stock worth $1,718,614. 2.20% of the stock is owned by insiders.

About Coupa Software (Get Rating)

Coupa Software Incorporated provides cloud-based business spend management platform that connects its customers with suppliers worldwide. The company provides visibility into and control over how companies spend money, optimize supply chains, and manage liquidity, as well as enables businesses to achieve savings that drive profitability.

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

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