Coupa Software Inc (COUP) Sees Large Drop in Short Interest

Coupa Software Inc (NASDAQ:COUP) was the recipient of a large decline in short interest in the month of April. As of April 13th, there was short interest totalling 3,813,292 shares, a decline of 10.8% from the March 31st total of 4,272,801 shares. Based on an average trading volume of 1,497,223 shares, the short-interest ratio is presently 2.5 days.

Several equities analysts have recently issued reports on the stock. Zacks Investment Research raised shares of Coupa Software from a “sell” rating to a “hold” rating in a report on Tuesday, May 9th. Vetr cut shares of Coupa Software from a “hold” rating to a “strong sell” rating and set a $24.91 price objective on the stock. in a research report on Wednesday, February 22nd. Finally, Loop Capital started coverage on shares of Coupa Software in a research report on Tuesday, February 14th. They issued a “hold” rating and a $27.00 price objective on the stock. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and two have issued a buy rating to the company. The stock currently has an average rating of “Hold” and an average price target of $28.56.

Shares of Coupa Software (NASDAQ:COUP) traded up 1.47% during midday trading on Friday, reaching $31.81. 135,541 shares of the company’s stock traded hands. The stock’s market cap is $1.61 billion. The stock has a 50 day moving average of $28.40 and a 200-day moving average of $26.78. Coupa Software has a 12 month low of $22.50 and a 12 month high of $41.61.

Coupa Software (NASDAQ:COUP) last announced its quarterly earnings data on Monday, March 13th. The technology company reported ($0.05) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.21) by $0.16. The firm had revenue of $38.02 million for the quarter, compared to analysts’ expectations of $35.87 million. Coupa Software’s revenue for the quarter was up 44.2% on a year-over-year basis. On average, equities research analysts forecast that Coupa Software will post ($0.52) EPS for the current fiscal year.

In other news, insider Ravi Thakur sold 20,000 shares of the business’s stock in a transaction on Tuesday, April 4th. The shares were sold at an average price of $24.50, for a total value of $490,000.00. Following the completion of the transaction, the insider now owns 101,541 shares of the company’s stock, valued at approximately $2,487,754.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, major shareholder Dorado Ventures Vii L. P. El sold 1,041,266 shares of the business’s stock in a transaction on Tuesday, April 18th. The shares were sold at an average price of $24.05, for a total transaction of $25,042,447.30. The disclosure for this sale can be found here. Insiders have sold a total of 2,652,329 shares of company stock valued at $63,797,512 in the last ninety days.

A number of institutional investors have recently bought and sold shares of the stock. Battery Partners VIII LLC bought a new position in Coupa Software during the fourth quarter valued at about $171,799,000. Sylebra HK Co Ltd bought a new position in Coupa Software during the first quarter valued at about $28,720,000. Vanguard Group Inc. boosted its position in Coupa Software by 27.5% in the first quarter. Vanguard Group Inc. now owns 749,441 shares of the technology company’s stock valued at $19,035,000 after buying an additional 161,830 shares in the last quarter. Morgan Stanley boosted its position in Coupa Software by 36.9% in the first quarter. Morgan Stanley now owns 686,277 shares of the technology company’s stock valued at $17,431,000 after buying an additional 184,865 shares in the last quarter. Finally, Janus Capital Management LLC bought a new position in Coupa Software during the first quarter valued at about $12,160,000. Institutional investors and hedge funds own 0.96% of the company’s stock.

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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.

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