Coupa Software (COUP) Trading Down 14.1% on Insider Selling

Shares of Coupa Software Inc (NASDAQ:COUP) were down 14.1% during mid-day trading on Monday following insider selling activity. The stock traded as low as $53.68 and last traded at $54.95. Approximately 2,822,375 shares were traded during trading, an increase of 239% from the average daily volume of 831,900 shares. The stock had previously closed at $63.94.

Specifically, CEO Robert Bernshteyn sold 63,225 shares of the firm’s stock in a transaction dated Monday, September 17th. The stock was sold at an average price of $77.24, for a total transaction of $4,883,499.00. Following the sale, the chief executive officer now directly owns 204,218 shares of the company’s stock, valued at $15,773,798.32. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CFO Todd R. Ford sold 12,500 shares of the firm’s stock in a transaction dated Monday, September 17th. The stock was sold at an average price of $77.25, for a total value of $965,625.00. Following the sale, the chief financial officer now directly owns 24,036 shares in the company, valued at $1,856,781. The disclosure for this sale can be found here. Insiders sold 217,879 shares of company stock worth $15,462,749 over the last three months. Corporate insiders own 6.50% of the company’s stock.

Several analysts recently commented on COUP shares. Zacks Investment Research raised Coupa Software from a “hold” rating to a “buy” rating and set a $86.00 target price on the stock in a report on Friday, September 7th. Needham & Company LLC raised their target price on Coupa Software from $63.00 to $83.00 and gave the stock a “buy” rating in a report on Wednesday, September 5th. Barclays raised their target price on Coupa Software from $53.00 to $58.00 and gave the stock an “equal weight” rating in a report on Wednesday, August 15th. Morgan Stanley raised their target price on Coupa Software from $57.00 to $62.00 and gave the stock an “equal weight” rating in a report on Tuesday, September 4th. Finally, Loop Capital raised their target price on Coupa Software to $72.00 and gave the stock a “hold” rating in a report on Wednesday, September 5th. Eight analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. Coupa Software currently has a consensus rating of “Buy” and a consensus target price of $63.69.

The stock has a market capitalization of $3.71 billion, a PE ratio of -72.18 and a beta of 1.79.

Coupa Software (NASDAQ:COUP) last issued its quarterly earnings results on Tuesday, September 4th. The technology company reported ($0.17) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.30) by $0.13. The company had revenue of $61.65 million for the quarter, compared to the consensus estimate of $56.61 million. Coupa Software had a negative return on equity of 16.73% and a negative net margin of 22.52%. Sell-side analysts expect that Coupa Software Inc will post -0.98 earnings per share for the current year.

A number of hedge funds have recently modified their holdings of the business. Morgan Stanley boosted its position in Coupa Software by 3.8% during the third quarter. Morgan Stanley now owns 3,733,253 shares of the technology company’s stock worth $295,300,000 after purchasing an additional 137,624 shares in the last quarter. Sylebra HK Co Ltd boosted its position in Coupa Software by 4.5% during the second quarter. Sylebra HK Co Ltd now owns 3,533,098 shares of the technology company’s stock worth $219,900,000 after purchasing an additional 150,823 shares in the last quarter. BlackRock Inc. boosted its position in Coupa Software by 14.4% during the third quarter. BlackRock Inc. now owns 3,480,491 shares of the technology company’s stock worth $275,308,000 after purchasing an additional 438,131 shares in the last quarter. Whale Rock Capital Management LLC boosted its position in Coupa Software by 16.8% during the second quarter. Whale Rock Capital Management LLC now owns 2,267,803 shares of the technology company’s stock worth $141,148,000 after purchasing an additional 326,727 shares in the last quarter. Finally, FMR LLC boosted its position in Coupa Software by 42.3% during the second quarter. FMR LLC now owns 1,774,407 shares of the technology company’s stock worth $110,439,000 after purchasing an additional 527,529 shares in the last quarter. Institutional investors own 97.10% of the company’s stock.

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Coupa Software Company Profile (NASDAQ:COUP)

Coupa Software Incorporated provides cloud-based spend management platform. The company's platform connects organization with suppliers globally; and provides visibility into and control over how companies spend money, as well as enables businesses to achieve savings that drive profitability. Its platform consists of procurement, invoicing, and expense management modules that form its transactional engine and capture a company's spend; and offers supporting modules, including sourcing, spend analysis, contract management, supplier management, and inventory management.

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