Coupa Software (NASDAQ:COUP) Stock Price Down 6.2% Following Insider Selling

Coupa Software Inc (NASDAQ:COUP)’s share price dropped 6.2% during trading on Wednesday after an insider sold shares in the company. The stock traded as low as $130.03 and last traded at $131.12, approximately 1,302,384 shares changed hands during trading. A decline of 26% from the average daily volume of 1,757,307 shares. The stock had previously closed at $139.76.

Specifically, Director Henry Tayloe Stansbury sold 5,000 shares of the company’s stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $162.56, for a total value of $812,800.00. Following the sale, the director now directly owns 13,307 shares in the company, valued at $2,163,185.92. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Veenendaal Frank Van sold 1,299 shares of the company’s stock in a transaction that occurred on Monday, March 16th. The shares were sold at an average price of $115.00, for a total value of $149,385.00. Following the completion of the sale, the director now owns 72,592 shares in the company, valued at $8,348,080. The disclosure for this sale can be found here. Insiders sold 149,260 shares of company stock worth $23,812,904 over the last quarter. 5.30% of the stock is currently owned by company insiders.

COUP has been the topic of several analyst reports. Morgan Stanley reduced their target price on Coupa Software from $168.00 to $130.00 and set an “equal weight” rating on the stock in a report on Tuesday, March 17th. Raymond James dropped their price target on Coupa Software from $170.00 to $135.00 and set an “outperform” rating on the stock in a research note on Tuesday, March 17th. Oppenheimer dropped their price target on Coupa Software from to and set an “outperform” rating on the stock in a research note on Tuesday, March 17th. Canaccord Genuity dropped their price target on Coupa Software from $171.00 to $140.00 and set a “buy” rating on the stock in a research note on Tuesday, March 17th. Finally, Cantor Fitzgerald dropped their price target on Coupa Software from $166.00 to $153.00 and set an “overweight” rating on the stock in a research note on Tuesday, March 17th. Nine analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the stock. Coupa Software currently has a consensus rating of “Buy” and a consensus target price of $148.28.

The firm has a market cap of $9.06 billion, a P/E ratio of -97.75 and a beta of 1.48. The stock’s 50 day simple moving average is $148.87 and its 200 day simple moving average is $147.88. The company has a debt-to-equity ratio of 1.27, a quick ratio of 2.11 and a current ratio of 1.82.

Coupa Software (NASDAQ:COUP) last released its quarterly earnings data on Monday, March 16th. The technology company reported $0.21 earnings per share for the quarter, beating analysts’ consensus estimates of $0.05 by $0.16. The firm had revenue of $111.45 million for the quarter, compared to analyst estimates of $102.51 million. Coupa Software had a negative net margin of 23.31% and a negative return on equity of 10.01%. The business’s quarterly revenue was up 48.8% compared to the same quarter last year. During the same period last year, the firm earned $0.05 earnings per share. As a group, analysts forecast that Coupa Software Inc will post -0.94 EPS for the current fiscal year.

Hedge funds have recently added to or reduced their stakes in the business. BI Asset Management Fondsmaeglerselskab A S purchased a new stake in shares of Coupa Software in the fourth quarter worth approximately $821,000. Franklin Resources Inc. lifted its holdings in shares of Coupa Software by 9.9% in the fourth quarter. Franklin Resources Inc. now owns 555,184 shares of the technology company’s stock valued at $81,196,000 after purchasing an additional 50,076 shares in the last quarter. Norges Bank purchased a new position in shares of Coupa Software during the fourth quarter valued at approximately $36,495,000. Macquarie Group Ltd. boosted its position in shares of Coupa Software by 0.8% during the fourth quarter. Macquarie Group Ltd. now owns 78,517 shares of the technology company’s stock valued at $11,483,000 after buying an additional 630 shares during the last quarter. Finally, Sunbelt Securities Inc. bought a new stake in Coupa Software during the fourth quarter worth $4,570,000.

About Coupa Software (NASDAQ:COUP)

Coupa Software, Inc engages in providing business spend management (BSM) solutions. It offers cloud-based BSM platform that delivers a broad range of capabilities that would typically require the purchase and use of multiple disparate point applications. Its platform consists of procurement, invoicing, expense management and payments modules that form the transactional engine for managing a company’s business spend.

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