Janus Capital Management LLC Takes Position in COUPA SOFTWARE (NASDAQ:COUP)

Janus Capital Management LLC purchased a new position in shares of COUPA SOFTWARE (NASDAQ:COUP) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 478,721 shares of the technology company’s stock, valued at approximately $12,160,000. Janus Capital Management LLC owned about 0.95% of COUPA SOFTWARE as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in the stock. Nationwide Fund Advisors boosted its stake in shares of COUPA SOFTWARE by 22.7% in the first quarter. Nationwide Fund Advisors now owns 5,131 shares of the technology company’s stock valued at $130,000 after buying an additional 949 shares during the last quarter. American International Group Inc. purchased a new stake in shares of COUPA SOFTWARE during the first quarter valued at approximately $132,000. Metropolitan Life Insurance Co. NY purchased a new stake in shares of COUPA SOFTWARE during the fourth quarter valued at approximately $260,000. Teachers Advisors LLC purchased a new stake in shares of COUPA SOFTWARE during the fourth quarter valued at approximately $268,000. Finally, Norges Bank purchased a new stake in shares of COUPA SOFTWARE during the fourth quarter valued at approximately $500,000. 52.76% of the stock is currently owned by institutional investors.

COUPA SOFTWARE (NASDAQ:COUP) opened at 30.28 on Wednesday. The stock’s market capitalization is $1.60 billion. The firm’s 50-day moving average is $32.17 and its 200 day moving average is $27.69. COUPA SOFTWARE has a 52-week low of $22.50 and a 52-week high of $41.61.

COUPA SOFTWARE (NASDAQ:COUP) last posted its earnings results on Monday, June 5th. The technology company reported ($0.09) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.14) by $0.05. The firm had revenue of $41.10 million during the quarter, compared to analyst estimates of $38.33 million. The company’s revenue for the quarter was up 40.8% on a year-over-year basis. During the same quarter last year, the business posted ($1.76) earnings per share. On average, equities analysts forecast that COUPA SOFTWARE will post ($0.51) earnings per share for the current year.

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COUP has been the topic of several recent analyst reports. Royal Bank Of Canada boosted their target price on COUPA SOFTWARE from $35.00 to $40.00 and gave the stock an “outperform” rating in a report on Thursday, June 1st. Zacks Investment Research raised COUPA SOFTWARE from a “sell” rating to a “hold” rating in a report on Friday, March 24th. JMP Securities reissued an “outperform” rating and set a $40.00 target price (up previously from $32.00) on shares of COUPA SOFTWARE in a report on Tuesday, June 6th. Morgan Stanley reissued an “equal weight” rating and set a $31.00 target price (up previously from $29.00) on shares of COUPA SOFTWARE in a report on Saturday, June 3rd. Finally, Raymond James Financial, Inc. reissued an “outperform” rating and set a $40.00 target price (up previously from $34.00) on shares of COUPA SOFTWARE in a report on Wednesday, June 7th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and four have assigned a buy rating to the company. COUPA SOFTWARE presently has an average rating of “Hold” and a consensus target price of $33.79.

In other COUPA SOFTWARE news, CEO Robert Bernshteyn sold 406,823 shares of the stock in a transaction on Tuesday, April 18th. The shares were sold at an average price of $24.05, for a total value of $9,784,093.15. Following the sale, the chief executive officer now directly owns 447,453 shares in the company, valued at $10,761,244.65. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Ravi Thakur sold 11,240 shares of the stock in a transaction on Monday, July 3rd. The stock was sold at an average price of $29.03, for a total transaction of $326,297.20. Following the completion of the sale, the insider now owns 68,175 shares in the company, valued at $1,979,120.25. The disclosure for this sale can be found here. Over the last quarter, insiders sold 2,660,583 shares of company stock worth $64,205,716. Company insiders own 32.10% of the company’s stock.

About COUPA SOFTWARE

Coupa Software Incorporated is a United States-based company, which provides a unified, cloud-based spend management platform that connects organizations with suppliers globally. The Company offers spend management cloud applications, which are pre-integrated. The platform offers consumerized financial applications.

Institutional Ownership by Quarter for COUPA SOFTWARE (NASDAQ:COUP)

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