IndexIQ Advisors LLC Lowers Stock Position in Coupa Software Incorporated (NASDAQ:COUP)

IndexIQ Advisors LLC reduced its stake in Coupa Software Incorporated (NASDAQ:COUP) by 0.8% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 12,461 shares of the technology company’s stock after selling 97 shares during the quarter. IndexIQ Advisors LLC’s holdings in Coupa Software were worth $2,731,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently made changes to their positions in the company. Jacobi Capital Management LLC purchased a new stake in Coupa Software in the second quarter valued at approximately $30,000. Harbor Investment Advisory LLC bought a new position in Coupa Software during the third quarter valued at approximately $37,000. Liberty Wealth Management LLC grew its position in Coupa Software by 26,110.5% during the second quarter. Liberty Wealth Management LLC now owns 9,960 shares of the technology company’s stock valued at $38,000 after acquiring an additional 9,922 shares during the last quarter. SRS Capital Advisors Inc. grew its position in Coupa Software by 49.6% during the third quarter. SRS Capital Advisors Inc. now owns 196 shares of the technology company’s stock valued at $43,000 after acquiring an additional 65 shares during the last quarter. Finally, Berman Capital Advisors LLC grew its position in Coupa Software by 195.7% during the third quarter. Berman Capital Advisors LLC now owns 204 shares of the technology company’s stock valued at $44,000 after acquiring an additional 135 shares during the last quarter.

In related news, insider Mark Riggs sold 1,296 shares of the firm’s stock in a transaction that occurred on Monday, December 27th. The shares were sold at an average price of $159.50, for a total value of $206,712.00. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Todd R. Ford sold 2,957 shares of the firm’s stock in a transaction that occurred on Tuesday, December 21st. The stock was sold at an average price of $156.14, for a total transaction of $461,705.98. The disclosure for this sale can be found here. In the last quarter, insiders have sold 118,695 shares of company stock worth $26,568,973. Corporate insiders own 2.60% of the company’s stock.

Shares of NASDAQ COUP opened at $138.44 on Friday. Coupa Software Incorporated has a fifty-two week low of $134.00 and a fifty-two week high of $377.04. The company has a 50 day simple moving average of $177.08 and a two-hundred day simple moving average of $216.01. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 1.02.

Coupa Software (NASDAQ:COUP) last announced its earnings results on Monday, December 6th. The technology company reported $0.31 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.02 by $0.29. Coupa Software had a negative net margin of 49.52% and a negative return on equity of 15.58%. The business had revenue of $185.82 million during the quarter, compared to the consensus estimate of $177.88 million. During the same quarter last year, the firm earned ($0.34) earnings per share. The business’s revenue for the quarter was up 39.7% on a year-over-year basis. Analysts predict that Coupa Software Incorporated will post -1.94 earnings per share for the current fiscal year.

A number of research analysts have commented on the stock. The Goldman Sachs Group assumed coverage on shares of Coupa Software in a research report on Monday, December 13th. They set a “buy” rating and a $251.00 price target on the stock. UBS Group reduced their price target on shares of Coupa Software from $310.00 to $280.00 and set a “buy” rating on the stock in a research report on Tuesday, November 30th. They noted that the move was a valuation call. Oppenheimer cut their target price on shares of Coupa Software from $275.00 to $225.00 and set an “outperform” rating on the stock in a report on Tuesday, December 7th. Needham & Company LLC cut their target price on shares of Coupa Software from $315.00 to $210.00 and set a “buy” rating on the stock in a report on Tuesday, December 7th. Finally, Morgan Stanley cut their target price on shares of Coupa Software from $337.00 to $330.00 and set an “overweight” rating on the stock in a report on Tuesday, December 7th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and fifteen have issued a buy rating to the company. Based on data from MarketBeat.com, Coupa Software has a consensus rating of “Buy” and a consensus target price of $226.05.

Coupa Software Profile

Coupa Software, Inc engages in the provision of business spend management (BSM) solutions. Its products include invoice, expense, pay, spend analysis, strategic sourcing, contract management contingent workforce, and supplier management. The company was founded by Noah Eisner and Dave Stephens in 2006 and is headquartered in San Mateo, CA.

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

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