Skandinaviska Enskilda Banken AB publ Has $782,000 Position in Coupa Software Incorporated (NASDAQ:COUP)

Posted by Defense World Staff on Feb 24th, 2023

Skandinaviska Enskilda Banken AB publ boosted its holdings in Coupa Software Incorporated (NASDAQ:COUP – Get Rating) by 9.5% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 13,293 shares of the technology company’s stock after purchasing an additional 1,151 shares during the quarter. Skandinaviska Enskilda Banken AB publ’s holdings in Coupa Software were worth $782,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of the business. Vanguard Group Inc. grew its position in Coupa Software by 1.2% in the 1st quarter. Vanguard Group Inc. now owns 6,810,191 shares of the technology company’s stock valued at $692,120,000 after purchasing an additional 77,434 shares during the period. Brown Advisory Inc. grew its position in Coupa Software by 6.1% in the 2nd quarter. Brown Advisory Inc. now owns 2,964,943 shares of the technology company’s stock valued at $169,298,000 after purchasing an additional 170,001 shares during the period. Renaissance Technologies LLC grew its position in Coupa Software by 87.8% in the 2nd quarter. Renaissance Technologies LLC now owns 2,119,300 shares of the technology company’s stock valued at $121,012,000 after purchasing an additional 991,100 shares during the period. Mackenzie Financial Corp grew its position in Coupa Software by 2.0% in the 2nd quarter. Mackenzie Financial Corp now owns 1,655,859 shares of the technology company’s stock valued at $94,550,000 after purchasing an additional 32,892 shares during the period. Finally, Durable Capital Partners LP grew its position in Coupa Software by 49.6% in the 1st quarter. Durable Capital Partners LP now owns 1,263,662 shares of the technology company’s stock valued at $128,426,000 after purchasing an additional 419,129 shares during the period. Institutional investors and hedge funds own 99.09% of the company’s stock.

Coupa Software Trading Up 0.5 %

Shares of COUP opened at $80.41 on Friday. The business’s 50-day moving average price is $79.46 and its 200-day moving average price is $66.94. Coupa Software Incorporated has a twelve month low of $40.29 and a twelve month high of $130.97. The stock has a market cap of $6.07 billion, a PE ratio of -17.99 and a beta of 1.16. The company has a quick ratio of 1.78, a current ratio of 1.78 and a debt-to-equity ratio of 7.62.

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 for the quarter, missing the consensus estimate of ($0.62) by ($0.07). Coupa Software had a negative net margin of 41.24% and a negative return on equity of 45.54%. The company had revenue of $217.30 million for the quarter, compared to the consensus estimate of $213.31 million. During the same quarter in the prior year, the company earned ($0.36) earnings per share. The company’s quarterly revenue was up 17.0% on a year-over-year basis. On average, equities analysts forecast that Coupa Software Incorporated will post -1.81 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on COUP shares. William Blair downgraded shares of Coupa Software from an “outperform” rating to a “market perform” rating in a research report on Monday, December 12th. DA Davidson lifted their price objective on shares of Coupa Software from $50.00 to $81.00 in a report on Tuesday, December 13th. Credit Suisse Group raised shares of Coupa Software from an “underperform” rating to a “neutral” rating and lifted their price objective for the stock from $60.00 to $81.00 in a report on Tuesday, December 13th. Wells Fargo & Company lifted their price objective on shares of Coupa Software from $65.00 to $81.00 in a report on Tuesday, December 13th. Finally, Piper Sandler reaffirmed an “underweight” rating on shares of Coupa Software in a report on Tuesday, December 13th. Three investment analysts have rated the stock with a sell rating, sixteen have given a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, Coupa Software has an average rating of “Hold” and a consensus target price of $79.42.

Insider Transactions at Coupa Software

In other news, CAO Maurizio Baratta sold 1,142 shares of the business’s stock in a transaction dated Wednesday, December 21st. The stock was sold at an average price of $78.59, for a total transaction of $89,749.78. Following the completion of the transaction, the chief accounting officer now owns 7,031 shares of the company’s stock, valued at $552,566.29. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Coupa Software news, EVP Robert Glenn sold 3,076 shares of the business’s stock in a transaction that occurred on Wednesday, December 21st. The stock was sold at an average price of $78.59, for a total value of $241,742.84. Following the completion of the sale, the executive vice president now owns 13,292 shares in the company, valued at $1,044,618.28. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Maurizio Baratta sold 1,142 shares of the business’s stock in a transaction that occurred on Wednesday, December 21st. The shares were sold at an average price of $78.59, for a total value of $89,749.78. Following the completion of the sale, the chief accounting officer now owns 7,031 shares of the company’s stock, valued at approximately $552,566.29. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 17,486 shares of company stock valued at $1,374,678. 2.20% of the stock is owned by corporate insiders.

Coupa Software Company 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.