Panagora Asset Management Inc. Acquires Shares of 2,455 Coupa Software Inc (NASDAQ:COUP)

Panagora Asset Management Inc. acquired a new stake in shares of Coupa Software Inc (NASDAQ:COUP) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 2,455 shares of the technology company’s stock, valued at approximately $311,000.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. Russell Investments Group Ltd. bought a new position in Coupa Software during the second quarter valued at $1,746,000. Pier 88 Investment Partners LLC bought a new position in shares of Coupa Software in the second quarter worth $113,000. Catalyst Capital Advisors LLC boosted its holdings in shares of Coupa Software by 85,396.3% in the second quarter. Catalyst Capital Advisors LLC now owns 70,107 shares of the technology company’s stock worth $8,877,000 after acquiring an additional 70,025 shares during the period. Allianz Asset Management GmbH boosted its holdings in shares of Coupa Software by 847.1% in the second quarter. Allianz Asset Management GmbH now owns 47,507 shares of the technology company’s stock worth $6,015,000 after acquiring an additional 42,491 shares during the period. Finally, Migdal Insurance & Financial Holdings Ltd. boosted its holdings in shares of Coupa Software by 76.8% in the second quarter. Migdal Insurance & Financial Holdings Ltd. now owns 17,623 shares of the technology company’s stock worth $2,231,000 after acquiring an additional 7,654 shares during the period.

In other news, CFO Todd R. Ford sold 3,405 shares of the firm’s stock in a transaction dated Friday, June 21st. The stock was sold at an average price of $125.70, for a total transaction of $428,008.50. Following the transaction, the chief financial officer now directly owns 20,928 shares of the company’s stock, valued at $2,630,649.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Anthony D. Tiscornia sold 1,223 shares of the firm’s stock in a transaction dated Friday, June 21st. The shares were sold at an average price of $125.70, for a total value of $153,731.10. Following the transaction, the chief accounting officer now directly owns 828 shares in the company, valued at $104,079.60. The disclosure for this sale can be found here. Insiders have sold 275,976 shares of company stock worth $37,309,318 over the last ninety days. Insiders own 5.30% of the company’s stock.

COUP has been the subject of a number of analyst reports. Oppenheimer raised their price target on Coupa Software from $160.00 to $170.00 and gave the stock an “outperform” rating in a report on Wednesday, September 4th. Royal Bank of Canada raised their price target on Coupa Software from $135.00 to $165.00 and gave the stock an “outperform” rating in a report on Wednesday, September 4th. Zacks Investment Research raised Coupa Software from a “hold” rating to a “buy” rating and set a $166.00 price target for the company in a report on Monday. Canaccord Genuity initiated coverage on Coupa Software in a report on Thursday. They issued a “buy” rating and a $171.00 price target for the company. Finally, Cantor Fitzgerald set a $166.00 price target on Coupa Software and gave the stock a “buy” rating in a report on Wednesday, September 4th. Six research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the stock. The stock has a consensus rating of “Buy” and an average target price of $153.05.

NASDAQ COUP traded down $2.80 during trading hours on Friday, reaching $133.38. 53,023 shares of the stock traded hands, compared to its average volume of 1,742,373. The stock has a 50 day simple moving average of $139.63 and a two-hundred day simple moving average of $116.46. Coupa Software Inc has a 1 year low of $52.01 and a 1 year high of $156.16. The company has a debt-to-equity ratio of 1.25, a current ratio of 2.13 and a quick ratio of 2.13. The company has a market cap of $8.56 billion, a price-to-earnings ratio of -198.79 and a beta of 1.60.

Coupa Software (NASDAQ:COUP) last released its quarterly earnings results on Tuesday, September 3rd. The technology company reported ($0.25) earnings per share 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 for the quarter, compared to the consensus estimate of $85.38 million. During the same quarter last year, the business posted $0.05 earnings per share. The company’s revenue for the quarter was up 54.0% on a year-over-year basis. On average, sell-side analysts forecast that Coupa Software Inc will post -1.02 EPS for the current fiscal year.

Coupa Software Company Profile

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.

Further Reading: What is the return on assets (ROA) ratio?

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

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