Coupa Software (COUP) Stock Price Down 6.5% After Insider Selling

Coupa Software (NASDAQ:COUP)’s share price dropped 6.5% on Tuesday after an insider sold shares in the company. The company traded as low as $33.38 and last traded at $33.62. Approximately 1,536,400 shares changed hands during trading, an increase of 229% from the average daily volume of 466,401 shares. The stock had previously closed at $35.94.

Specifically, CFO Todd R. Ford sold 12,000 shares of the firm’s stock in a transaction on Monday, September 18th. The shares were sold at an average price of $31.56, for a total value of $378,720.00. Following the sale, the chief financial officer now directly owns 14,613 shares in the company, valued at approximately $461,186.28. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Anthony D. Tiscornia sold 2,344 shares of the firm’s stock in a transaction on Tuesday, September 12th. The stock was sold at an average price of $31.37, for a total transaction of $73,531.28. Following the completion of the sale, the insider now owns 1,563 shares in the company, valued at $49,031.31. The disclosure for this sale can be found here. Insiders sold a total of 491,519 shares of company stock worth $16,224,868 over the last 90 days. Company insiders own 32.10% of the company’s stock.

COUP has been the topic of several research analyst reports. Northland Securities restated a “buy” rating and issued a $38.00 price target on shares of Coupa Software in a research report on Thursday, August 10th. Cantor Fitzgerald restated a “buy” rating and issued a $36.00 price target on shares of Coupa Software in a research report on Wednesday, September 6th. Royal Bank Of Canada restated a “buy” rating and issued a $41.00 price target on shares of Coupa Software in a research report on Wednesday, November 15th. Barclays restated a “hold” rating and issued a $38.00 price target (up from $34.00) on shares of Coupa Software in a research report on Monday, November 27th. Finally, Zacks Investment Research upgraded shares of Coupa Software from a “sell” rating to a “hold” rating in a research report on Tuesday, November 7th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and seven have given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average price target of $35.66.

Coupa Software (NASDAQ:COUP) last issued its earnings results on Monday, December 4th. The technology company reported ($0.05) earnings per share for the quarter, beating the consensus estimate of ($0.11) by $0.06. Coupa Software had a negative net margin of 24.00% and a negative return on equity of 19.01%. The business had revenue of $47.30 million for the quarter, compared to analyst estimates of $45.02 million. During the same period in the previous year, the business earned ($0.22) EPS. The firm’s revenue was up 33.6% on a year-over-year basis. equities analysts expect that Coupa Software will post -1 earnings per share for the current year.

Several institutional investors have recently modified their holdings of the company. Verition Fund Management LLC bought a new position in Coupa Software during the 2nd quarter valued at about $384,000. Sylebra HK Co Ltd lifted its holdings in Coupa Software by 6.5% during the 2nd quarter. Sylebra HK Co Ltd now owns 1,204,374 shares of the technology company’s stock valued at $34,903,000 after purchasing an additional 73,654 shares during the last quarter. Vanguard Group Inc. lifted its holdings in Coupa Software by 260.3% during the 2nd quarter. Vanguard Group Inc. now owns 2,700,303 shares of the technology company’s stock valued at $78,254,000 after purchasing an additional 1,950,862 shares during the last quarter. Capital World Investors lifted its holdings in Coupa Software by 39.2% during the 2nd quarter. Capital World Investors now owns 1,837,112 shares of the technology company’s stock valued at $53,240,000 after purchasing an additional 517,000 shares during the last quarter. Finally, Wells Fargo & Company MN lifted its holdings in Coupa Software by 17.2% during the 2nd quarter. Wells Fargo & Company MN now owns 321,265 shares of the technology company’s stock valued at $9,310,000 after purchasing an additional 47,131 shares during the last quarter. Institutional investors and hedge funds own 76.68% of the company’s stock.

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Coupa Software Company Profile

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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