5 Mid-Cap Stocks Hedge Funds Are Talking About

4. Coupa Software Incorporated (NASDAQ:COUP)

Market Cap as of March 11, 2022: $7.4 billion

Number of Hedge Fund Holders: 59

ClearBridge Investments also published its “Mid Cap Growth Strategy” second quarter 2021 investor letter – a copy of which can be downloaded here. While the ClearBridge Mid Cap Growth Strategy trailed its benchmark in the second quarter, it had a strong performance (+14.9%) and relative success (+445 bps over benchmark) during the first half of 2021. You can take a look at the fund’s top 5 holdings to have an idea about their top bets for 2022.

In the Q2 2021 investor letter of ClearBridge Investments, the fund mentioned Coupa Software Incorporated (NASDAQ:COUP) and discussed its stance on the firm. Coupa Software Incorporated is a San Mateo, California-based global technology platform with a $7.4 billion market capitalization. Coupa Software Incorporated (NASDAQ:COUP) shares have crashed by 64.20% over the past 12 months, closing at $99.36 per share on March 11, 2022.

Here is what ClearBridge Investments had to say about Coupa Software Incorporated (NASDAQ:COUP) in its Q2 2021 investor letter:

“Within IT, we added positions in Coupa Software Incorporated (NASDAQ:COUP), a leader in the fast growing Business Spend Management market with opportunity to double its total addressable market by harnessing B2B payments with its Coupa Pay product; and AppLovin, a leading mobile gaming advertising network in a unique position to utilize its ad expertise to grow its own mobile game business at low user acquisition costs.”