Tiger Cub Chase Coleman is Selling These 5 Tech Stocks

4. Coupa Software Incorporated (NASDAQ:COUP)

Number of Hedge Fund Holders: 59

Coupa Software Incorporated (NASDAQ:COUP) offers a cloud-based business spend management platform, connecting customers with suppliers worldwide. Tiger Global’s 13F filings for Q1 2022 reveal that the fund sold out of its $320.5 million stake in Coupa Software Incorporated (NASDAQ:COUP). 

On May 19, DA Davidson analyst Robert Simmons initiated coverage of Coupa Software Incorporated (NASDAQ:COUP) with a Neutral rating and a $75 price target. According to the analyst, Coupa Software Incorporated (NASDAQ:COUP) is the most significant provider in the business spend management sector and its well on its way to becoming the industry leader. He added that Coupa Software Incorporated (NASDAQ:COUP)’s new sales are somewhat slower in the near-term and warns that its short-term performance will be muted. However, he believes that the company is well positioned for 20% organic growth in the next few quarters.

According to Insider Monkey’s database, Coupa Software Incorporated (NASDAQ:COUP) was part of 59 public hedge fund portfolios in Q4 2021, up from 52 funds in the prior quarter. Mick Hellman’s HMI Capital held a leading stake in Coupa Software Incorporated (NASDAQ:COUP) in the first fiscal quarter of 2022, with more than 2 million shares worth $212.3 million. 

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

“Within IT, we added positions in Coupa Software, 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.”