Citigroup Inc. Sells 1,571,124 Shares of Coupa Software Incorporated (NASDAQ:COUP)

Citigroup Inc. decreased its position in shares of Coupa Software Incorporated (NASDAQ:COUPGet Rating) by 94.6% during the 1st quarter, Holdings Channel reports. The institutional investor owned 90,340 shares of the technology company’s stock after selling 1,571,124 shares during the quarter. Citigroup Inc.’s holdings in Coupa Software were worth $9,181,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently added to or reduced their stakes in the company. William Blair Investment Management LLC increased its position in shares of Coupa Software by 1,237.4% in the first quarter. William Blair Investment Management LLC now owns 1,595,093 shares of the technology company’s stock worth $162,109,000 after purchasing an additional 1,475,825 shares during the period. Capital World Investors bought a new position in shares of Coupa Software in the fourth quarter worth $156,922,000. Brown Advisory Inc. increased its position in shares of Coupa Software by 33.7% in the first quarter. Brown Advisory Inc. now owns 2,733,964 shares of the technology company’s stock worth $291,838,000 after purchasing an additional 689,568 shares during the period. Third Point LLC bought a new position in shares of Coupa Software in the fourth quarter worth $102,732,000. Finally, Renaissance Technologies LLC increased its position in shares of Coupa Software by 297.7% in the fourth quarter. Renaissance Technologies LLC now owns 769,900 shares of the technology company’s stock worth $121,683,000 after purchasing an additional 576,300 shares during the period.

Insider Buying and Selling

In related news, insider Mark Riggs sold 2,017 shares of Coupa Software stock in a transaction that occurred on Tuesday, June 21st. The stock was sold at an average price of $55.11, for a total value of $111,156.87. Following the transaction, the insider now directly owns 3,729 shares of the company’s stock, valued at $205,505.19. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other Coupa Software news, EVP Robert Glenn sold 2,174 shares of the business’s stock in a transaction that occurred on Tuesday, June 21st. The stock was sold at an average price of $55.11, for a total value of $119,809.14. Following the transaction, the executive vice president now directly owns 8,199 shares of the company’s stock, valued at $451,846.89. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Mark Riggs sold 2,017 shares of the business’s stock in a transaction that occurred on Tuesday, June 21st. The shares were sold at an average price of $55.11, for a total value of $111,156.87. Following the completion of the transaction, the insider now directly owns 3,729 shares in the company, valued at $205,505.19. The disclosure for this sale can be found here. Insiders have sold a total of 20,113 shares of company stock valued at $1,210,703 over the last ninety days. 2.20% of the stock is owned by company insiders.

Coupa Software Price Performance

Coupa Software stock opened at $56.98 on Tuesday. The stock’s 50 day moving average is $65.31 and its 200 day moving average is $81.10. The company has a debt-to-equity ratio of 6.42, a current ratio of 1.81 and a quick ratio of 1.81. The firm has a market cap of $4.30 billion, a P/E ratio of -11.77 and a beta of 1.50. Coupa Software Incorporated has a one year low of $50.54 and a one year high of $270.79.

Coupa Software (NASDAQ:COUPGet Rating) last posted its quarterly earnings data on Monday, June 6th. The technology company reported ($0.62) EPS for the quarter, missing analysts’ consensus estimates of ($0.57) by ($0.05). The company had revenue of $196.37 million during the quarter, compared to analyst estimates of $190.69 million. Coupa Software had a negative return on equity of 17.87% and a negative net margin of 47.72%. Coupa Software’s revenue was up 17.6% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.57) earnings per share. As a group, research analysts expect that Coupa Software Incorporated will post -2.67 EPS for the current year.

Analysts Set New Price Targets

A number of brokerages recently commented on COUP. Piper Sandler decreased their price target on Coupa Software from $85.00 to $65.00 and set a “neutral” rating on the stock in a research report on Monday, July 18th. Raymond James lifted their target price on Coupa Software from $75.00 to $90.00 in a research report on Tuesday, June 7th. Royal Bank of Canada cut Coupa Software from a “sector perform” rating to an “underperform” rating and decreased their target price for the company from $65.00 to $55.00 in a research report on Monday, August 22nd. Evercore ISI decreased their target price on Coupa Software from $140.00 to $115.00 and set an “outperform” rating on the stock in a research report on Tuesday, June 7th. Finally, KeyCorp decreased their target price on Coupa Software from $75.00 to $70.00 and set an “overweight” rating on the stock in a research report on Tuesday, August 30th. Three analysts have rated the stock with a sell rating, eight have assigned a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $94.68.

Coupa Software Company Profile

(Get Rating)

Coupa Software Incorporated provides cloud-based business spend management platform that connects its customers with suppliers worldwide. The company provides visibility into and control over how companies spend money, optimize supply chains, and manage liquidity, as well as enables businesses to achieve savings that drive profitability.

Read More

Want to see what other hedge funds are holding COUP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Coupa Software Incorporated (NASDAQ:COUPGet Rating).

Institutional Ownership by Quarter for Coupa Software (NASDAQ:COUP)

Receive News & Ratings for Coupa Software Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Coupa Software and related companies with MarketBeat.com's FREE daily email newsletter.