Coupa Software Inc (COUP) Director Veenendaal Frank Van Sells 1,000 Shares of Stock

Coupa Software Inc (NASDAQ:COUP) Director Veenendaal Frank Van sold 1,000 shares of the firm’s stock in a transaction dated Friday, September 14th. The shares were sold at an average price of $80.30, for a total value of $80,300.00. Following the completion of the sale, the director now owns 123,635 shares of the company’s stock, valued at $9,927,890.50. The sale was disclosed in a document filed with the SEC, which is available through the SEC website.

COUP stock traded down $1.63 during mid-day trading on Friday, reaching $79.10. 738,422 shares of the company traded hands, compared to its average volume of 898,372. The company has a market capitalization of $4.58 billion, a P/E ratio of -104.08 and a beta of 1.09. Coupa Software Inc has a fifty-two week low of $30.15 and a fifty-two week high of $84.53.

A number of hedge funds have recently added to or reduced their stakes in COUP. Oppenheimer & Co. Inc. acquired a new position in Coupa Software during the 1st quarter valued at about $282,000. Schwab Charles Investment Management Inc. lifted its position in shares of Coupa Software by 7.0% during the 1st quarter. Schwab Charles Investment Management Inc. now owns 148,000 shares of the technology company’s stock worth $6,752,000 after buying an additional 9,653 shares in the last quarter. ETRADE Capital Management LLC bought a new position in shares of Coupa Software during the 1st quarter worth approximately $370,000. King Luther Capital Management Corp lifted its position in shares of Coupa Software by 30.0% during the 1st quarter. King Luther Capital Management Corp now owns 96,800 shares of the technology company’s stock worth $4,416,000 after buying an additional 22,350 shares in the last quarter. Finally, Northern Trust Corp lifted its position in shares of Coupa Software by 3.1% during the 1st quarter. Northern Trust Corp now owns 346,650 shares of the technology company’s stock worth $15,814,000 after buying an additional 10,371 shares in the last quarter. Institutional investors and hedge funds own 99.60% of the company’s stock.

COUP has been the subject of several research reports. Zacks Investment Research downgraded Coupa Software from a “buy” rating to a “hold” rating in a research note on Friday, June 8th. Morgan Stanley raised their target price on Coupa Software from $57.00 to $62.00 and gave the company an “equal weight” rating in a research note on Tuesday, September 4th. Oppenheimer raised their target price on Coupa Software from $55.00 to $62.00 and gave the company an “outperform” rating in a research note on Thursday, May 31st. Needham & Company LLC raised their target price on Coupa Software from $55.00 to $63.00 and gave the company a “buy” rating in a research note on Tuesday, June 5th. Finally, SunTrust Banks lifted their price target on Coupa Software to $65.00 and gave the company a “buy” rating in a research note on Tuesday, June 5th. Seven analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. Coupa Software presently has a consensus rating of “Buy” and a consensus target price of $63.69.

About Coupa Software

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.

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