Coupa Software Inc (COUP) CFO Sells $65,704.40 in Stock
Coupa Software Inc (NASDAQ:COUP) CFO Todd R. Ford sold 1,385 shares of the business’s stock in a transaction that occurred on Wednesday, March 21st. The shares were sold at an average price of $47.44, for a total value of $65,704.40. Following the completion of the sale, the chief financial officer now owns 10,757 shares of the company’s stock, valued at approximately $510,312.08. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.
Todd R. Ford also recently made the following trade(s):
- On Friday, March 16th, Todd R. Ford sold 12,000 shares of Coupa Software stock. The shares were sold at an average price of $46.46, for a total value of $557,520.00.
- On Monday, March 19th, Todd R. Ford sold 112,500 shares of Coupa Software stock. The shares were sold at an average price of $46.21, for a total value of $5,198,625.00.
Coupa Software stock traded down $1.00 during trading hours on Thursday, hitting $46.26. The stock had a trading volume of 593,923 shares, compared to its average volume of 805,195. Coupa Software Inc has a 1-year low of $23.20 and a 1-year high of $50.69. The firm has a market capitalization of $2,668.10, a price-to-earnings ratio of -55.73 and a beta of 1.29.
A number of hedge funds have recently made changes to their positions in COUP. Sylebra HK Co Ltd grew its holdings in Coupa Software by 82.9% during the fourth quarter. Sylebra HK Co Ltd now owns 3,962,308 shares of the technology company’s stock worth $123,703,000 after acquiring an additional 1,795,516 shares during the period. Soma Equity Partners LP grew its holdings in Coupa Software by 60.0% during the third quarter. Soma Equity Partners LP now owns 1,120,000 shares of the technology company’s stock worth $34,888,000 after acquiring an additional 420,000 shares during the period. Victory Capital Management Inc. grew its holdings in Coupa Software by 52.3% during the fourth quarter. Victory Capital Management Inc. now owns 1,194,430 shares of the technology company’s stock worth $37,290,000 after acquiring an additional 410,240 shares during the period. State Street Corp grew its holdings in Coupa Software by 299.8% during the second quarter. State Street Corp now owns 520,042 shares of the technology company’s stock worth $15,070,000 after acquiring an additional 389,965 shares during the period. Finally, AlpInvest Partners B.V. acquired a new position in Coupa Software during the third quarter worth $10,236,000. 88.39% of the stock is currently owned by hedge funds and other institutional investors.
A number of brokerages have weighed in on COUP. Royal Bank of Canada boosted their price objective on Coupa Software to $53.00 and gave the company an “outperform” rating in a research note on Tuesday, March 13th. They noted that the move was a valuation call. Loop Capital boosted their target price on Coupa Software to $48.00 and gave the company a “hold” rating in a report on Wednesday, March 14th. Needham & Company LLC set a $55.00 target price on Coupa Software and gave the company a “buy” rating in a report on Tuesday, March 13th. SunTrust Banks boosted their target price on Coupa Software to $56.00 and gave the company a “buy” rating in a report on Tuesday, March 13th. Finally, Morgan Stanley reissued an “equal weight” rating and issued a $49.00 target price (up previously from $42.00) on shares of Coupa Software in a report on Tuesday, March 13th. Five equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. The stock presently has an average rating of “Buy” and an average target price of $46.13.
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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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