Coupa Software (COUP) Shares Down 6.5% Following Insider Selling

Coupa Software (NASDAQ:COUP) shares fell 6.5% during trading on Tuesday after an insider sold shares in the company. The company traded as low as $33.38 and last traded at $33.62. 1,536,400 shares traded hands during mid-day trading, an increase of 229% from the average session volume of 466,401 shares. The stock had previously closed at $35.94.

Specifically, CRO Steven M. Winter sold 27,266 shares of the firm’s stock in a transaction that occurred on Thursday, September 28th. The stock was sold at an average price of $30.65, for a total transaction of $835,702.90. Following the completion of the sale, the executive now owns 1,144 shares of the company’s stock, valued at $35,063.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Ravi Thakur sold 11,240 shares of the firm’s stock in a transaction that occurred on Friday, December 1st. The stock was sold at an average price of $35.90, for a total value of $403,516.00. Following the sale, the insider now directly owns 13,436 shares of the company’s stock, valued at approximately $482,352.40. The disclosure for this sale can be found here. Insiders have sold 491,519 shares of company stock valued at $16,224,868 in the last ninety days. 32.10% of the stock is currently owned by insiders.

Several research firms recently commented on COUP. Cantor Fitzgerald reaffirmed a “buy” rating and set a $36.00 target price on shares of Coupa Software in a research note on Tuesday. Barclays reissued a “hold” rating and issued a $38.00 price objective (up previously from $34.00) on shares of Coupa Software in a research note on Monday, November 27th. ValuEngine raised Coupa Software from a “sell” rating to a “hold” rating in a research note on Wednesday, October 18th. Royal Bank Of Canada raised their price objective on Coupa Software from $40.00 to $41.00 and gave the company an “outperform” rating in a research note on Wednesday, September 6th. Finally, Northland Securities reissued a “buy” rating and issued a $38.00 price objective on shares of Coupa Software in a research note on Thursday, August 10th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and seven have assigned a buy rating to the stock. Coupa Software presently has a consensus rating of “Hold” and an average price target of $35.66.

Coupa Software (NASDAQ:COUP) last announced its earnings results on Monday, December 4th. The technology company reported ($0.05) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.11) by $0.06. The company had revenue of $47.30 million for the quarter, compared to analysts’ expectations of $45.02 million. Coupa Software had a negative return on equity of 20.71% and a negative net margin of 24.37%. Coupa Software’s quarterly revenue was up 33.6% on a year-over-year basis. During the same quarter in the previous year, the firm earned ($0.22) earnings per share. analysts anticipate that Coupa Software will post -1 EPS for the current year.

Several large investors have recently made changes to their positions in the stock. Schwab Charles Investment Management Inc. boosted its position in shares of Coupa Software by 5.1% during the first quarter. Schwab Charles Investment Management Inc. now owns 28,056 shares of the technology company’s stock valued at $713,000 after buying an additional 1,368 shares during the last quarter. American International Group Inc. boosted its position in shares of Coupa Software by 8.1% during the third quarter. American International Group Inc. now owns 19,989 shares of the technology company’s stock valued at $623,000 after buying an additional 1,494 shares during the last quarter. Bank of New York Mellon Corp boosted its position in shares of Coupa Software by 2.5% during the third quarter. Bank of New York Mellon Corp now owns 113,344 shares of the technology company’s stock valued at $3,531,000 after buying an additional 2,782 shares during the last quarter. BNP Paribas Arbitrage SA boosted its position in shares of Coupa Software by 2,294.8% during the second quarter. BNP Paribas Arbitrage SA now owns 3,664 shares of the technology company’s stock valued at $106,000 after buying an additional 3,511 shares during the last quarter. Finally, Hillsdale Investment Management Inc. purchased a new position in shares of Coupa Software during the second quarter valued at approximately $142,000. 76.68% of the stock is currently owned by institutional investors.

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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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