Great West Life Assurance Co. Can Takes Position in Coupa Software Incorporated (NASDAQ:COUP)

Great West Life Assurance Co. Can bought a new position in shares of Coupa Software Incorporated (NASDAQ:COUP – Get Rating) during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor bought 94,198 shares of the technology company’s stock, valued at approximately $5,538,000.

Several other large investors have also recently added to or reduced their stakes in COUP. Mackenzie Financial Corp increased its stake in Coupa Software by 41,503.9% during the 1st quarter. Mackenzie Financial Corp now owns 1,622,967 shares of the technology company’s stock worth $164,942,000 after buying an additional 1,619,066 shares during the period. Renaissance Technologies LLC grew its holdings in Coupa Software by 87.8% during the 2nd quarter. Renaissance Technologies LLC now owns 2,119,300 shares of the technology company’s stock worth $121,012,000 after acquiring an additional 991,100 shares in the last quarter. Point72 Asset Management L.P. acquired a new position in Coupa Software during the 2nd quarter worth approximately $45,218,000. Bank of Nova Scotia grew its holdings in Coupa Software by 454.2% during the 2nd quarter. Bank of Nova Scotia now owns 576,442 shares of the technology company’s stock worth $32,915,000 after acquiring an additional 472,430 shares in the last quarter. Finally, Durable Capital Partners LP grew its holdings in Coupa Software by 49.6% during the 1st quarter. Durable Capital Partners LP now owns 1,263,662 shares of the technology company’s stock worth $128,426,000 after acquiring an additional 419,129 shares in the last quarter. 99.09% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms have commented on COUP. Needham & Company LLC cut shares of Coupa Software from a “buy” rating to a “hold” rating in a report on Tuesday, December 13th. Truist Financial restated a “hold” rating on shares of Coupa Software in a report on Tuesday, December 13th. UBS Group lowered their target price on shares of Coupa Software from $78.00 to $71.00 and set a “neutral” rating for the company in a report on Wednesday, November 30th. StockNews.com began coverage on shares of Coupa Software in a report on Wednesday, October 12th. They issued a “sell” rating for the company. Finally, Barclays upped their target price on shares of Coupa Software from $53.00 to $81.00 in a report on Friday, December 16th. Three equities research analysts have rated the stock with a sell rating, sixteen have given a hold rating and five have given a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $79.42.

Insider Activity

In related news, CEO Robert Bernshteyn sold 8,074 shares of the stock in a transaction dated Wednesday, December 21st. The shares were sold at an average price of $78.59, for a total value of $634,535.66. Following the sale, the chief executive officer now directly owns 258,929 shares of the company’s stock, valued at approximately $20,349,230.11. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In related news, CEO Robert Bernshteyn sold 8,074 shares of the stock in a transaction dated Wednesday, December 21st. The shares were sold at an average price of $78.59, for a total value of $634,535.66. Following the sale, the chief executive officer now directly owns 258,929 shares of the company’s stock, valued at approximately $20,349,230.11. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, EVP Robert Glenn sold 3,076 shares of the stock in a transaction dated Wednesday, December 21st. The shares were sold at an average price of $78.59, for a total transaction of $241,742.84. Following the completion of the sale, the executive vice president now directly owns 13,292 shares in the company, valued at $1,044,618.28. The disclosure for this sale can be found here. Insiders sold 17,190 shares of company stock worth $1,350,998 in the last 90 days. 2.20% of the stock is currently owned by corporate insiders.

Coupa Software Stock Performance

Shares of COUP opened at $79.32 on Friday. The company has a 50-day simple moving average of $70.33 and a 200-day simple moving average of $64.48. The company has a quick ratio of 1.78, a current ratio of 1.78 and a debt-to-equity ratio of 7.62. The company has a market capitalization of $6.04 billion, a PE ratio of -17.74 and a beta of 1.22. Coupa Software Incorporated has a 52-week low of $40.29 and a 52-week high of $140.91.

Coupa Software (NASDAQ:COUP – Get Rating) last announced its quarterly earnings results on Monday, December 12th. The technology company reported ($0.69) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.62) by ($0.07). The company had revenue of $217.30 million during the quarter, compared to analysts’ expectations of $213.31 million. Coupa Software had a negative net margin of 41.24% and a negative return on equity of 45.54%. The business’s revenue for the quarter was up 17.0% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.36) EPS.

Coupa Software Profile

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Coupa Software, Inc engages in the provision of business spend management (BSM) solutions. Its products include invoice, expense, pay, spend analysis, strategic sourcing, contract management contingent workforce, and supplier management. The company was founded by Noah Eisner and Dave Stephens in 2006 and is headquartered in San Mateo, CA.