Investors can expect a company’s stock to rise or fall based on the buying and selling of stock by its insiders. Coupa Software Incorporated shares valued at $31,903 were sold by Riggs Mark on Sep 22. At $62.43 per share, Riggs Mark sold 511 shares. The insider’s holdings dropped to 3,418 shares worth approximately $0.21 million following the completion of this transaction.
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Also, Glenn Robert sold 956 shares, netting a total of over 59,817 in proceeds. Following the sale of shares at $62.57 each, the insider now holds 10,719 shares.
Before that, Glenn Robert had sold 2,174 shares from its account. In a trade valued at $143,928, the EVP Global Sales traded Coupa Software Incorporated shares for $66.20 each. Upon closing the transaction, the insider’s holdings decreased to 2,174 shares, worth approximately $0.73 million.
As published in their initiating research note from Citigroup on September 01, 2022, Coupa Software Incorporated [COUP] has been a Buy and the price target has been revised to $77. This represents a 19.25% premium over Thursday’s closing price. Analysts at RBC Capital Mkts downgraded the stock from ‘”a Sector perform”‘ to ‘”an Underperform”‘ outlook in a report released in late August. As of May 20, 2022, DA Davidson has initiated its “Neutral” rating for COUP. Earlier on May 12, 2022, Goldman downgraded its rating. Their new recommendation was “a Sell” for COUP stock which previously was a “a Neutral”.
Analyzing COUP’s Price Performance
On Thursday, Coupa Software Incorporated [NASDAQ: COUP] plunged -4.68% to $62.18. The stock’s lowest price that day was $61.85, but it reached a high of $65.3708 in the same session. During the last five days, there has been a drop of approximately -11.93%. Over the course of the year, Coupa Software Incorporated shares have dropped approximately -60.66%. Shares of the company reached a 52-week high of $166.21 on 01/04/22 and a 52-week low of $50.54 on 06/17/22. A 50-day SMA is recorded $66.67, while a 200-day SMA reached $94.84. Nevertheless, trading volume fell to 1.76 million shares from 1.73 million shares the previous day.
Support And Resistance Levels for Coupa Software Incorporated (COUP)
According to the 24-hour chart, there is a support level at 60.90, which, if violated, would cause prices to drop to 59.61. In the upper region, resistance lies at 64.42. The next price resistance is at 66.65. RSI (Relative Strength Index) is 42.79 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -1.80, which suggests the price will decrease in the coming days. Percent R is at 61.93%, indicating low price movement. Stochastics %K at holding indicates that the stock is to be held.
Is Coupa Software Incorporated subject to short interest?
Stocks of Coupa Software Incorporated saw a sharp steep in short interest on Jul 14, 2022 dropping by -0.66 million shares to 5.14 million. Data from Yahoo Finance shows that the short interest on Jun 14, 2022 was 5.8 million shares. A decline of -12.84% in short interest reflects a negative sentiment towards the stock. Despite the fact that short shares comprise just 2.94 of the overall float, the days-to-cover ratio (short ratio) decline to 2.94.
Which companies own the most shares of Coupa Software Incorporated (COUP)?
According to The Vanguard Group, Inc. filings, the company currently owns 6,830,067 shares, which is about 9.04% of the total COUP shares outstanding. The investor’s shares have appreciated by 171,998 from its previous 13-F filing of 6658069.0 shares. With the completion of the buy transaction, Meritage Group LP’s stake is now worth $253,664,488. T. Rowe Price Associates, Inc. reduced a -31.70% interest valued at $205.09 million while BlackRock Fund Advisors purchased a 38,928 stake. A total of 816,000 shares of Coupa Software Incorporated were bought by HMI Capital Management LP during the quarter, and 104,884 were bought by Brown Advisory LLC. In its current portfolio, Fidelity Management & Research Co holds 2,364,764 shares valued at $138.1 million.
In terms of Coupa Software Incorporated share price expectations, FactSet research, analysts set an average price target of $76.39 in the next 12 months, up nearly 14.98% from the previous closing price of $65.23. Analysts anticipate Coupa Software Incorporated stock to reach $100.00 by 2022, with the lowest price target being $55.00. In spite of this, 29 analysts ranked Coupa Software Incorporated stock as an Overweight at the end of 2022. On April 07, 2022, Evercore ISI assigned a price target of “an Outperform” to the stock and upgraded coverage with a $140.