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

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Coupa Software Inc (NASDAQ:COUP) shares dropped 6.2% during mid-day 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 mid-day trading. A decline of 26% from the average daily volume of 1,757,307 shares. The stock had previously closed at $139.76.

Specifically, CAO Anthony D. Tiscornia sold 1,325 shares of the company’s stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $157.53, for a total value of $208,727.25. Following the completion of the sale, the chief accounting officer now directly owns 1,424 shares of the company’s stock, valued at approximately $224,322.72. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Mark Riggs sold 930 shares of the company’s stock in a transaction dated Friday, January 24th. The shares were sold at an average price of $167.43, for a total transaction of $155,709.90. Following the completion of the sale, the insider now directly owns 645 shares of the company’s stock, valued at $107,992.35. The disclosure for this sale can be found here. Insiders sold a total of 148,885 shares of company stock valued at $23,759,804 over the last three months. 5.30% of the stock is owned by corporate insiders.

A number of analysts have commented on the stock. JPMorgan Chase & Co. upped their price objective on shares of Coupa Software from $95.00 to $100.00 and gave the company a “neutral” rating in a research note on Tuesday, December 3rd. Northland Securities upped their price objective on shares of Coupa Software from $150.00 to $165.00 and gave the company a “market perform” rating in a research note on Tuesday, December 3rd. Oppenheimer reduced their price objective on shares of Coupa Software from to and set an “outperform” rating for the company in a research note on Tuesday, March 17th. Needham & Company LLC reduced their price objective on shares of Coupa Software from $195.00 to $136.00 and set a “buy” rating for the company in a research note on Tuesday, March 17th. Finally, Royal Bank of Canada reduced their price objective on shares of Coupa Software from $190.00 to $140.00 and set an “outperform” rating for the company in a research note on Tuesday, March 17th. Ten research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus price target of $147.56.

The company has a market cap of $8.84 billion, a price-to-earnings ratio of -89.81 and a beta of 1.48. The company has a current ratio of 1.82, a quick ratio of 2.11 and a debt-to-equity ratio of 1.27. The business has a fifty day moving average price of $149.63 and a two-hundred day moving average price of $147.97.

Coupa Software (NASDAQ:COUP) last issued its earnings results 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 company had revenue of $111.45 million for the quarter, compared to the consensus estimate of $102.51 million. Coupa Software had a negative return on equity of 10.01% and a negative net margin of 23.31%. The firm’s quarterly revenue was up 48.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.05 EPS. On average, analysts anticipate that Coupa Software Inc will post -0.94 EPS for the current year.

Institutional investors and hedge funds have recently modified their holdings of the company. Mercer Global Advisors Inc. ADV increased its holdings in Coupa Software by 37.9% in the fourth quarter. Mercer Global Advisors Inc. ADV now owns 7,747 shares of the technology company’s stock worth $1,133,000 after buying an additional 2,129 shares during the last quarter. Point72 Asset Management L.P. acquired a new position in Coupa Software in the third quarter worth approximately $106,580,000. Evoke Wealth LLC acquired a new position in Coupa Software in the third quarter worth approximately $416,000. State Street Corp increased its holdings in Coupa Software by 4.6% in the third quarter. State Street Corp now owns 805,740 shares of the technology company’s stock worth $104,400,000 after buying an additional 35,514 shares during the last quarter. Finally, Vista Equity Partners Management LLC increased its holdings in Coupa Software by 96.0% in the third quarter. Vista Equity Partners Management LLC now owns 141,096 shares of the technology company’s stock worth $18,282,000 after buying an additional 69,117 shares during the last quarter.

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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