Insider Selling: COUPA SOFTWARE (COUP) Major Shareholder Sells 1,662,000 Shares of Stock
COUPA SOFTWARE (NASDAQ:COUP) major shareholder Ix Lp Mdv sold 1,662,000 shares of the business’s stock in a transaction dated Wednesday, July 12th. The shares were sold at an average price of $31.25, for a total transaction of $51,937,500.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Large shareholders that own 10% or more of a company’s stock are required to disclose their sales and purchases with the SEC.
Shares of COUPA SOFTWARE (NASDAQ COUP) opened at 30.88 on Wednesday. The company’s market cap is $1.64 billion. COUPA SOFTWARE has a 12-month low of $22.50 and a 12-month high of $41.61. The stock has a 50 day moving average of $30.42 and a 200 day moving average of $28.56.
COUPA SOFTWARE (NASDAQ:COUP) last announced its quarterly earnings data on Monday, June 5th. The technology company reported ($0.09) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.14) by $0.05. The firm had revenue of $41.10 million during the quarter, compared to analysts’ expectations of $38.33 million. During the same period in the prior year, the company posted ($1.76) EPS. The company’s revenue for the quarter was up 40.8% compared to the same quarter last year. Equities research analysts predict that COUPA SOFTWARE will post ($0.51) earnings per share for the current fiscal year.
A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Sylebra HK Co Ltd bought a new position in COUPA SOFTWARE during the first quarter worth approximately $28,720,000. Federated Investors Inc. PA boosted its position in COUPA SOFTWARE by 110.5% in the second quarter. Federated Investors Inc. PA now owns 1,073,100 shares of the technology company’s stock worth $31,098,000 after buying an additional 563,200 shares during the last quarter. Vanguard Group Inc. boosted its position in COUPA SOFTWARE by 27.5% in the first quarter. Vanguard Group Inc. now owns 749,441 shares of the technology company’s stock worth $19,035,000 after buying an additional 161,830 shares during the last quarter. Morgan Stanley boosted its position in COUPA SOFTWARE by 36.9% in the first quarter. Morgan Stanley now owns 686,277 shares of the technology company’s stock worth $17,431,000 after buying an additional 184,865 shares during the last quarter. Finally, Janus Capital Management LLC bought a new position in COUPA SOFTWARE during the first quarter worth approximately $12,160,000. 52.87% of the stock is currently owned by institutional investors.
A number of equities research analysts have weighed in on COUP shares. Zacks Investment Research upgraded shares of COUPA SOFTWARE from a “sell” rating to a “hold” rating in a report on Tuesday, May 9th. Cantor Fitzgerald assumed coverage on shares of COUPA SOFTWARE in a research report on Thursday, July 20th. They set an “overweight” rating and a $35.00 price objective on the stock. Barclays PLC upped their target price on shares of COUPA SOFTWARE from $28.00 to $32.00 and gave the company an “equal weight” rating in a report on Tuesday, June 6th. J P Morgan Chase & Co reissued a “neutral” rating and issued a $31.00 price objective (up from $27.00) on shares of COUPA SOFTWARE in a research note on Tuesday, June 6th. Finally, Raymond James Financial, Inc. reissued an “outperform” rating and issued a $40.00 price objective (up from $34.00) on shares of COUPA SOFTWARE in a research note on Wednesday, June 7th. One research analyst has rated the stock with a sell rating, five have given a hold rating and six have issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average target price of $34.16.
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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