Coupa Software Inc (COUP) Sees Large Increase in Short Interest

Coupa Software Inc (NASDAQ:COUP) was the target of a large increase in short interest in December. As of December 29th, there was short interest totalling 1,829,368 shares, an increase of 34.2% from the December 15th total of 1,363,591 shares. Based on an average trading volume of 381,281 shares, the days-to-cover ratio is currently 4.8 days. Currently, 5.3% of the company’s shares are short sold.

A number of research firms have issued reports on COUP. Needham & Company LLC began coverage on shares of Coupa Software in a research report on Wednesday. They issued a “buy” rating and a $39.00 target price for the company. Barclays upgraded shares of Coupa Software from an “equal weight” rating to an “overweight” rating and set a $38.00 target price for the company in a research report on Monday, January 8th. Oppenheimer began coverage on shares of Coupa Software in a research report on Friday, December 29th. They issued an “outperform” rating and a $41.00 target price for the company. CIBC began coverage on shares of Coupa Software in a research report on Friday, December 22nd. They issued an “outperform” rating and a $41.00 target price for the company. Finally, Raymond James Financial reiterated a “buy” rating and issued a $40.00 target price on shares of Coupa Software in a research report on Tuesday, December 12th. One analyst has rated the stock with a sell rating, five have given a hold rating and eleven have issued a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average target price of $36.68.

Coupa Software (NASDAQ:COUP) opened at $34.00 on Friday. Coupa Software has a 12 month low of $22.50 and a 12 month high of $37.72. The company has a market cap of $1,870.00 and a price-to-earnings ratio of -34.00.

Coupa Software (NASDAQ:COUP) last announced its quarterly earnings results on Monday, December 4th. The technology company reported ($0.05) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.11) by $0.06. Coupa Software had a negative net margin of 24.37% and a negative return on equity of 20.40%. The company had revenue of $47.30 million for the quarter, compared to analyst estimates of $45.02 million. During the same quarter in the prior year, the business posted ($0.22) EPS. Coupa Software’s quarterly revenue was up 33.6% on a year-over-year basis. equities research analysts forecast that Coupa Software will post -0.94 earnings per share for the current year.

In other Coupa Software news, CEO Robert Bernshteyn sold 63,225 shares of the stock in a transaction that occurred on Wednesday, October 18th. The shares were sold at an average price of $35.71, for a total value of $2,257,764.75. Following the completion of the sale, the chief executive officer now owns 239,671 shares in the company, valued at approximately $8,558,651.41. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Anthony D. Tiscornia sold 781 shares of the stock in a transaction that occurred on Monday, November 13th. The stock was sold at an average price of $33.18, for a total transaction of $25,913.58. Following the completion of the sale, the insider now owns 521 shares of the company’s stock, valued at approximately $17,286.78. The disclosure for this sale can be found here. In the last 90 days, insiders sold 369,839 shares of company stock valued at $12,633,920. 32.10% of the stock is owned by insiders.

Several institutional investors and hedge funds have recently made changes to their positions in COUP. Schwab Charles Investment Management Inc. increased its stake in shares of Coupa Software by 343.1% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 124,312 shares of the technology company’s stock worth $3,603,000 after purchasing an additional 96,256 shares during the last quarter. Rhumbline Advisers increased its stake in shares of Coupa Software by 304.4% during the 2nd quarter. Rhumbline Advisers now owns 33,358 shares of the technology company’s stock worth $967,000 after purchasing an additional 25,110 shares during the last quarter. Bank of New York Mellon Corp increased its stake in shares of Coupa Software by 306.6% during the 2nd quarter. Bank of New York Mellon Corp now owns 110,562 shares of the technology company’s stock worth $3,204,000 after purchasing an additional 83,373 shares during the last quarter. Legal & General Group Plc grew its stake in Coupa Software by 436.1% in the 2nd quarter. Legal & General Group Plc now owns 10,792 shares of the technology company’s stock valued at $312,000 after buying an additional 8,779 shares during the last quarter. Finally, BNP Paribas Arbitrage SA grew its stake in Coupa Software by 2,294.8% in the 2nd 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. Institutional investors own 74.67% of the company’s stock.

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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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