Coupa Software Incorporated (NASDAQ:COUP) sees a significant drop in short-term interest

Coupa Software Incorporated (NASDAQ:COUP – Get Rating) was the target of a sharp decline in short-term interest in September. As of September 30, there was short interest totaling 6,800,000 shares, a decrease of 12.0% from the total of 7,730,000 shares as of September 15. Based on an average daily volume of 1,760,000 shares, the day-to-cover ratio is currently 3.9 days.

Insider Activity at Coupa Software

Separately, Executive Vice President Robert Glenn sold 2,174 shares of the company in a trade on Wednesday, September 21. The stock was sold at an average price of $66.20, for a total value of $143,918.80. Following the completion of the sale, the executive vice president now directly owns 11,675 shares of the company, valued at approximately $772,885. The transaction was disclosed in a filing with the Securities & Exchange Commission, accessible via the SEC’s website. In related news, insider Mark Riggs sold 5,018 shares of Coupa Software in a trade that took place on Wednesday, August 3. The stock was sold at an average price of $75.32, for a total value of $377,955.76. The transaction was disclosed in a document filed with the SEC, accessible via this link. Additionally, Executive Vice President Robert Glenn sold 2,174 shares of the company in a trade that took place on Wednesday, September 21. The shares were sold at an average price of $66.20, for a total value of $143,918.80. Following the completion of the sale, the executive vice president now owns 11,675 shares of the company, valued at $772,885. The disclosure of this sale can be found here. Insiders sold 23,455 shares of the company worth $1,583,602 in the past ninety days. 2.20% of the shares are held by insiders of the company.

Hedge funds weigh in on Coupa software

A number of large investors have recently changed their holdings to COUP. Heritage Wealth Advisors acquired a new stake in Coupa Software in Q2 worth approximately $41,000. UMB Bank NA MO increased its position in Coupa Software shares by 139.1% during the 1st quarter. UMB Bank NA MO now owns 562 shares of the technology company valued at $57,000 after buying 327 additional shares last quarter. Advisors Asset Management Inc. increased its position in Coupa Software shares by 56.9% during the first quarter. Advisors Asset Management Inc. now owns 965 shares of the technology company valued at $98,000 after buying 350 additional shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund bought a new position in Coupa Software stock during Q1 worth $139,000. Finally, Robeco Institutional Asset Management BV increased its position in Coupa Software shares by 10,161.1% during the 1st quarter. Robeco Institutional Asset Management BV now owns 1,847 shares of the technology company valued at $188,000 after buying an additional 1,829 shares in the last quarter.

Coupa Software Stock Performance

The NASDAQ COUP traded at $0.99 during Friday’s trading, hitting $49.31. 3,471,703 shares of the company have been traded, compared to its average volume of 1,925,547. The stock has a market capitalization of $3.74 billion, a price-earnings ratio of -10.74 and a beta of 1.41. Coupa Software has a 12-month minimum of $46.31 and a 12-month maximum of $259.90. The company has a debt ratio of 6.81, a quick ratio of 1.82 and a current ratio of 1.82. The company has a 50-day moving average of $63.90 and a 200-day moving average of $70.55.

Coupa Software (NASDAQ:COUP – Get Rating) last released its quarterly earnings data on Tuesday, September 6. The technology company reported EPS of $0.20 for the quarter, beating the consensus estimate of $0.09 by $0.11. The company posted revenue of $211.10 million for the quarter, versus a consensus estimate of $203.99 million. Coupa Software recorded a negative net margin of 43.73% and a negative return on equity of 24.29%. The company’s revenue increased by 17.8% compared to the same quarter last year. During the same period of the previous year, the company made ($0.35) earnings per share. As a group, equity research analysts expect Coupa Software to post -2.27 earnings per share for the current fiscal year.

Wall Street analysts predict growth

COUP has been the subject of a number of recent analyst reports. Truist Financial lowered its price target on Coupa Software shares from $85.00 to $75.00 and set a “buy” rating on the stock in a Wednesday, September 7 research report. Citigroup raised its price target on Coupa Software shares from $77.00 to $82.00 in a Wednesday, September 7 research report. Piper Sandler raised her price target on Coupa Software shares from $65.00 to $67.00 and gave the company a “neutral” rating in a Wednesday, September 7 research note. BMO Capital Markets cut its price target on Coupa Software shares from $85.00 to $72.00 in a Wednesday, August 24 research note. Finally, Wells Fargo & Company reduced its price target on Coupa Software shares from $80.00 to $65.00 and set an “equal weight” rating for the company in a Wednesday, September 7 research note. . Four analysts have assigned the stock a sell rating, eight have issued a hold rating and eleven have assigned the stock a buy rating. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $90.35.

Coupa Software Company Profile

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Coupa Software Incorporated provides a cloud-based enterprise expense management platform that connects its customers with vendors around the world. The company provides visibility and control over how companies spend money, optimize supply chains and manage cash, while enabling companies to realize savings that drive profitability.

Further reading

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