Investors Purchase High Volume of Coupa Software Call Options (COUP)
Coupa Software Inc (NASDAQ:COUP) was the recipient of unusually large options trading activity on Wednesday. Stock investors bought 2,992 call options on the stock. This is an increase of approximately 1,121% compared to the average daily volume of 245 call options.
In related news, CEO Robert Bernshteyn sold 63,225 shares of the company’s stock in a transaction that occurred on Monday, November 19th. The shares were sold at an average price of $56.06, for a total transaction of $3,544,393.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Ravi Thakur sold 10,000 shares of the company’s stock in a transaction that occurred on Tuesday, September 4th. The stock was sold at an average price of $71.32, for a total transaction of $713,200.00. Following the transaction, the senior vice president now directly owns 15,350 shares of the company’s stock, valued at approximately $1,094,762. The disclosure for this sale can be found here. Insiders have sold 293,604 shares of company stock valued at $19,708,143 in the last ninety days. 6.50% of the stock is currently owned by company insiders.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. UBS Group AG boosted its stake in shares of Coupa Software by 129.1% in the first quarter. UBS Group AG now owns 13,817 shares of the technology company’s stock valued at $630,000 after purchasing an additional 7,785 shares during the period. Xact Kapitalforvaltning AB purchased a new position in shares of Coupa Software in the second quarter valued at $461,000. Amalgamated Bank purchased a new position in shares of Coupa Software in the second quarter valued at $506,000. State of New Jersey Common Pension Fund D boosted its stake in shares of Coupa Software by 163.2% in the second quarter. State of New Jersey Common Pension Fund D now owns 32,900 shares of the technology company’s stock valued at $2,048,000 after purchasing an additional 20,400 shares during the period. Finally, Raymond James Financial Services Advisors Inc. boosted its stake in shares of Coupa Software by 33.1% in the second quarter. Raymond James Financial Services Advisors Inc. now owns 12,636 shares of the technology company’s stock valued at $786,000 after purchasing an additional 3,139 shares during the period. Institutional investors own 97.10% of the company’s stock.
Coupa Software (NASDAQ:COUP) last released its quarterly earnings data on Tuesday, September 4th. The technology company reported ($0.17) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.30) by $0.13. Coupa Software had a negative net margin of 22.52% and a negative return on equity of 16.73%. The company had revenue of $61.65 million during the quarter, compared to the consensus estimate of $56.61 million. On average, research analysts expect that Coupa Software will post -0.98 earnings per share for the current fiscal year.
Several equities analysts recently commented on the stock. Zacks Investment Research lowered shares of Coupa Software from a “buy” rating to a “hold” rating in a research report on Tuesday, November 6th. Royal Bank of Canada upped their price target on shares of Coupa Software to $83.00 and gave the stock an “outperform” rating in a research report on Wednesday, September 5th. Loop Capital upped their price target on shares of Coupa Software to $72.00 and gave the stock a “hold” rating in a research report on Wednesday, September 5th. Raymond James upped their price target on shares of Coupa Software from $60.00 to $86.00 and gave the stock an “outperform” rating in a research report on Wednesday, September 5th. Finally, Needham & Company LLC upped their price target on shares of Coupa Software from $63.00 to $83.00 and gave the stock a “buy” rating in a research report on Wednesday, September 5th. Eight equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus price target of $63.69.
ILLEGAL ACTIVITY NOTICE: This story was originally posted by Daily Political and is owned by of Daily Political. If you are viewing this story on another domain, it was copied illegally and republished in violation of U.S. & international copyright & trademark legislation. The original version of this story can be viewed at https://www.dailypolitical.com/2018/11/22/investors-purchase-high-volume-of-coupa-software-call-options-coup.html.
Coupa Software Company Profile
Coupa Software Incorporated provides cloud-based spend management platform. The company's platform connects organization with suppliers globally; and provides visibility into and control over how companies spend money, as well as enables businesses to achieve savings that drive profitability. Its platform consists of procurement, invoicing, and expense management modules that form its transactional engine and capture a company's spend; and offers supporting modules, including sourcing, spend analysis, contract management, supplier management, and inventory management.
Featured Story: What is a Futures Contract?
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.