5 Stocks Billionaire Dan Loeb is Selling in 2022

Page 5 of 5

1. Coupa Software Incorporated (NASDAQ:COUP)

Number of Hedge Fund Holders: 46

Coupa Software Incorporated (NASDAQ:COUP) is an American provider of a cloud-based business spend management platform that connects customers with suppliers around the world. Dan Loeb’s fund added Coupa Software Incorporated (NASDAQ:COUP) to its Q4 2021 portfolio by purchasing 650,000 shares, worth $102.7 million. The hedge fund sold off Coupa Software Incorporated (NASDAQ:COUP) shares completely in Q1 2022. 

On April 19, DA Davidson analyst Robert Simmons initiated coverage of Coupa Software Incorporated (NASDAQ:COUP) with a Neutral rating and a $75 price target. The company is the strongest player in the business spend management sector and is on its way to being the market leader, the analyst told investors in a research note. 

According to Insider Monkey’s first quarter database, 46 hedge funds were bullish on Coupa Software Incorporated (NASDAQ:COUP), down from 59 funds in the prior quarter. Mick Hellman’s HMI Capital is the largest stakeholder of the company, 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.”

You can also take a look at Top 10 Small-Cap Stocks Added to Billionaire Mario Gabelli’s Portfolio and 10 Best Stocks to Buy Now According to Billionaire Nicholas Pritzker’s Tao Capital

Page 5 of 5