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Andreas Halvorsen Tightens Grip on Coupa Software

Viking Global doubles its position in cloud-based spending company

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James Li
Jul 20, 2021

Summary

  • Viking Global boosted Coupa Software position by approximately 114%.
  • The trade increased the equity portfolio by 1.63%.
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Andreas Halvorsen (Trades, Portfolio), founding partner and chief investment officer of Viking Global, disclosed this week that his firm boosted its Coupa Software Inc. (COUP, Financial) position by approximately 114% on July 8 according to GuruFocus Real-Time Picks, a Premium feature.

A former employee of

Julian Robertson (Trades, Portfolio)’s Tiger Management, Halvorsen founded Greenwich, Connecticut-based Viking Global in 1999. The firm seeks long-term capital appreciation by selecting public and private equity securities across industries and geographies using fundamental analysis and applications of cyclical and secular industry trends.

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Transaction details

Viking Global disclosed a holding of 3,845,719 shares of Coupa Software (

COUP, Financial), up 2,050,954 shares or 114.27% from the first-quarter 2021 holding of 1,794,765 shares. The shares traded around $270.76 on the July 8 transaction date; the stock is fairly valued based on Tuesday’s price-to-GF-Value ratio of 0.93.

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Company background

San Mateo, California-based Coupa Software offers a cloud-based business software management platform that provides companies with more control and visibility into how they spend money. For the quarter ending April 30, Coupa reported revenue of $166.9 million, up 40% year over year driven on subscription revenue growth of 33%.

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GuruFocus ranks the company’s financial strength 4 out of 10: Although it has a strong Altman Z-score of 4.2, Coupa has a weak Piotroski F-score of 3 and debt-to-equity ratios underperforming more than 90% of global competitors.

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Other gurus with large holdings in Coupa Software include

Steve Mandel (Trades, Portfolio)’s Lone Pine and Chase Coleman (Trades, Portfolio)’s Tiger Global Management.

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Disclosures

I/we have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours.
Rating:
4 / 5 (1 votes)

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