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

Coupa Software Inc (NASDAQ:COUP) was the target of a significant drop in short interest in the month of January. As of January 12th, there was short interest totalling 1,129,968 shares, a drop of 38.2% from the December 29th total of 1,829,368 shares. Approximately 3.3% of the company’s stock are sold short. Based on an average daily volume of 608,597 shares, the days-to-cover ratio is presently 1.9 days.

In other news, CEO Robert Bernshteyn sold 63,225 shares of Coupa Software stock in a transaction on Monday, November 20th. The shares were sold at an average price of $33.95, for a total value of $2,146,488.75. Following the transaction, the chief executive officer now directly owns 162,092 shares of the company’s stock, valued at approximately $5,503,023.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Ravi Thakur sold 11,240 shares of Coupa Software stock in a transaction on Friday, December 1st. The shares were sold at an average price of $35.90, for a total transaction of $403,516.00. Following the completion of the transaction, the insider now directly owns 13,436 shares in the company, valued at $482,352.40. The disclosure for this sale can be found here. In the last three months, insiders sold 346,229 shares of company stock valued at $11,819,634. Insiders own 32.10% of the company’s stock.

Several large investors have recently modified their holdings of COUP. Vanguard Group Inc. grew its holdings in shares of Coupa Software by 260.3% during the 2nd quarter. Vanguard Group Inc. now owns 2,700,303 shares of the technology company’s stock worth $78,254,000 after purchasing an additional 1,950,862 shares during the period. Sylebra HK Co Ltd boosted its holdings in Coupa Software by 79.9% in the 3rd quarter. Sylebra HK Co Ltd now owns 2,166,792 shares of the technology company’s stock worth $67,496,000 after acquiring an additional 962,418 shares during the period. Victory Capital Management Inc. purchased a new position in Coupa Software in the 3rd quarter worth approximately $24,428,000. Voya Investment Management LLC purchased a new position in Coupa Software in the 2nd quarter worth approximately $22,196,000. Finally, Janus Henderson Group PLC purchased a new position in Coupa Software in the 2nd quarter worth approximately $18,242,000. Institutional investors and hedge funds own 76.14% of the company’s stock.

A number of equities analysts recently weighed in on the stock. CIBC assumed coverage on shares of Coupa Software in a research report on Friday, December 22nd. They issued an “outperform” rating and a $41.00 price objective on the stock. Northland Securities set a $41.00 price objective on shares of Coupa Software and gave the company a “buy” rating in a research report on Wednesday, January 17th. Zacks Investment Research lowered shares of Coupa Software from a “buy” rating to a “hold” rating in a research report on Friday, December 8th. Barclays restated a “hold” rating and set a $38.00 target price (up from $34.00) on shares of Coupa Software in a research report on Monday, November 27th. Finally, Cantor Fitzgerald restated a “buy” rating and set a $36.00 target price on shares of Coupa Software in a research report on Tuesday, December 5th. One analyst has rated the stock with a sell rating, four have given a hold rating and thirteen have assigned a buy rating to the company’s stock. Coupa Software currently has a consensus rating of “Buy” and a consensus price target of $38.52.

Coupa Software (NASDAQ COUP) opened at $38.64 on Tuesday. Coupa Software has a one year low of $22.50 and a one year high of $40.31. The company has a market cap of $2,130.00 and a PE ratio of -38.64.

Coupa Software (NASDAQ:COUP) last posted its quarterly earnings data on Monday, December 4th. The technology company reported ($0.05) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.11) by $0.06. Coupa Software had a negative net margin of 24.37% and a negative return on equity of 20.40%. The company had revenue of $47.30 million during the quarter, compared to the consensus estimate of $45.02 million. During the same quarter in the prior year, the company posted ($0.22) EPS. The company’s quarterly revenue was up 33.6% compared to the same quarter last year. research analysts predict that Coupa Software will post -0.94 earnings per share for the current year.

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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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