Sylebra HK Co Ltd cut its stake in Coupa Software Inc (NASDAQ:COUP) by 14.6% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 3,382,275 shares of the technology company’s stock after selling 580,033 shares during the quarter. Coupa Software makes up 12.6% of Sylebra HK Co Ltd’s portfolio, making the stock its 2nd biggest holding. Sylebra HK Co Ltd owned 0.06% of Coupa Software worth $154,299,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds and other institutional investors also recently bought and sold shares of COUP. Highland Capital Management LP acquired a new position in Coupa Software during the fourth quarter worth $3,122,000. Deutsche Bank AG increased its position in Coupa Software by 32.1% during the fourth quarter. Deutsche Bank AG now owns 401,945 shares of the technology company’s stock worth $12,547,000 after buying an additional 97,642 shares during the last quarter. Goldman Sachs Group Inc. increased its position in Coupa Software by 29.2% during the fourth quarter. Goldman Sachs Group Inc. now owns 44,566 shares of the technology company’s stock worth $1,392,000 after buying an additional 10,084 shares during the last quarter. Monashee Investment Management LLC acquired a new position in Coupa Software during the fourth quarter worth $1,405,000. Finally, Teacher Retirement System of Texas acquired a new position in Coupa Software during the fourth quarter worth $283,000. 93.80% of the stock is currently owned by institutional investors and hedge funds.
COUP stock traded down $0.13 during mid-day trading on Thursday, reaching $62.08. 8,327 shares of the stock traded hands, compared to its average volume of 783,242. The company has a debt-to-equity ratio of 0.67, a current ratio of 3.27 and a quick ratio of 3.27. Coupa Software Inc has a 52 week low of $28.52 and a 52 week high of $63.24. The stock has a market capitalization of $3.43 billion, a price-to-earnings ratio of -81.64 and a beta of 1.26.
In other Coupa Software news, CFO Todd R. Ford sold 112,500 shares of the company’s stock in a transaction dated Monday, March 19th. The shares were sold at an average price of $46.21, for a total transaction of $5,198,625.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CRO Steven M. Winter sold 11,336 shares of the company’s stock in a transaction dated Tuesday, June 12th. The shares were sold at an average price of $61.49, for a total transaction of $697,050.64. Following the sale, the executive now owns 12,480 shares of the company’s stock, valued at $767,395.20. The disclosure for this sale can be found here. Insiders have sold 438,732 shares of company stock valued at $22,023,141 over the last 90 days. Corporate insiders own 6.50% of the company’s stock.
Several equities analysts have commented on COUP shares. Barclays increased their target price on shares of Coupa Software from $38.00 to $47.00 and gave the stock an “overweight” rating in a research report on Monday, March 5th. Zacks Investment Research raised shares of Coupa Software from a “hold” rating to a “buy” rating and set a $52.00 target price on the stock in a research report on Wednesday, March 7th. JMP Securities downgraded shares of Coupa Software from an “outperform” rating to a “market perform” rating and set a $31.00 target price on the stock. in a research report on Tuesday, March 13th. Cantor Fitzgerald increased their target price on shares of Coupa Software from $38.00 to $58.00 and gave the stock an “overweight” rating in a research report on Tuesday, March 13th. Finally, Royal Bank of Canada increased their target price on shares of Coupa Software to $53.00 and gave the stock an “outperform” rating in a research report on Tuesday, March 13th. They noted that the move was a valuation call. Six investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. Coupa Software presently has an average rating of “Buy” and an average target price of $53.06.
About Coupa Software
Coupa Software Incorporated provides cloud-based spend management platform. The company's platform connects organization with suppliers globally; and provides visibility into and control over how companies spend money, as well as enables businesses to achieve savings that drive profitability. Its platform consists of procurement, invoicing, and expense management modules that form its transactional engine and capture a company's spend; and offers supporting modules, including sourcing, spend analysis, contract management, supplier management, and inventory management.
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