Coupa Software Incorporated (NASDAQ:COUP) Shares Sold by AlphaCrest Capital Management LLC

Posted by Defense World Staff on Mar 9th, 2023

AlphaCrest Capital Management LLC lessened its stake in shares of Coupa Software Incorporated (NASDAQ:COUP – Get Rating) by 46.0% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 9,957 shares of the technology company’s stock after selling 8,467 shares during the period. AlphaCrest Capital Management LLC’s holdings in Coupa Software were worth $585,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently modified their holdings of the stock. Sentry Investment Management LLC purchased a new stake in Coupa Software during the 3rd quarter worth approximately $43,000. Advisors Asset Management Inc. increased its position in shares of Coupa Software by 56.9% during the first quarter. Advisors Asset Management Inc. now owns 965 shares of the technology company’s stock worth $98,000 after purchasing an additional 350 shares in the last quarter. Wipfli Financial Advisors LLC acquired a new position in Coupa Software in the 3rd quarter valued at $59,000. Healthcare of Ontario Pension Plan Trust Fund purchased a new position in Coupa Software in the 1st quarter valued at $139,000. Finally, NuWave Investment Management LLC acquired a new stake in Coupa Software during the 3rd quarter worth $81,000. Institutional investors and hedge funds own 99.09% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the stock. Morgan Stanley decreased their price target on shares of Coupa Software from $94.00 to $75.00 and set an “overweight” rating on the stock in a research note on Tuesday, November 22nd. Piper Sandler restated an “underweight” rating on shares of Coupa Software in a report on Tuesday, December 13th. Needham & Company LLC cut Coupa Software from a “buy” rating to a “hold” rating in a report on Tuesday, December 13th. Wells Fargo & Company lifted their price objective on Coupa Software from $65.00 to $81.00 in a research report on Tuesday, December 13th. Finally, UBS Group dropped their target price on Coupa Software from $78.00 to $71.00 and set a “neutral” rating for the company in a report on Wednesday, November 30th. Three analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $79.42.

Insider Buying and Selling at Coupa Software

In other news, CEO Robert Bernshteyn sold 8,074 shares of the company’s stock in a transaction on Wednesday, December 21st. The stock was sold at an average price of $78.59, for a total transaction of $634,535.66. Following the sale, the chief executive officer now owns 258,929 shares of the company’s stock, valued at $20,349,230.11. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, CEO Robert Bernshteyn sold 8,074 shares of the business’s stock in a transaction on Wednesday, December 21st. The stock was sold at an average price of $78.59, for a total transaction of $634,535.66. Following the completion of the transaction, the chief executive officer now directly owns 258,929 shares of the company’s stock, valued at approximately $20,349,230.11. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Maurizio Baratta sold 1,142 shares of the stock in a transaction dated Wednesday, December 21st. The shares were sold at an average price of $78.59, for a total value of $89,749.78. Following the completion of the sale, the chief accounting officer now directly owns 7,031 shares in the company, valued at approximately $552,566.29. The disclosure for this sale can be found here. Insiders sold 17,486 shares of company stock valued at $1,374,678 in the last 90 days. Company insiders own 2.20% of the company’s stock.

Coupa Software Stock Performance

COUP opened at $80.97 on Thursday. Coupa Software Incorporated has a 52 week low of $40.29 and a 52 week high of $130.97. The company has a quick ratio of 1.78, a current ratio of 1.78 and a debt-to-equity ratio of 7.62. The business has a fifty day simple moving average of $79.87 and a 200-day simple moving average of $67.36. The firm has a market cap of $6.12 billion, a P/E ratio of -18.11 and a beta of 1.16.

Coupa Software (NASDAQ:COUP – Get Rating) last issued its quarterly earnings results on Monday, December 12th. The technology company reported ($0.69) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.62) by ($0.07). Coupa Software had a negative return on equity of 45.54% and a negative net margin of 41.24%. The business had revenue of $217.30 million for the quarter, compared to analysts’ expectations of $213.31 million. During the same quarter last year, the company earned ($0.36) earnings per share. The firm’s revenue for the quarter was up 17.0% on a year-over-year basis. On average, equities analysts expect that Coupa Software Incorporated will post -1.81 earnings per share for the current year.

Coupa Software Company Profile

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Quotient Technology, Inc engages in the operation of a digital marketing platform that connects brands and retailers with consumers through web, mobile, and social channels. It offers digital printable coupons, digital paperless coupons, coupon codes and other promotions. The company was founded by Steven R.