Coupang, Inc. (NYSE:CPNG) Sees Large Decrease in Short Interest

Coupang, Inc. (NYSE:CPNG) saw a significant drop in short interest in the month of September. As of September 30th, there was short interest totalling 14,300,000 shares, a drop of 11.4% from the September 15th total of 16,140,000 shares. Based on an average daily volume of 6,850,000 shares, the days-to-cover ratio is presently 2.1 days. Currently, 1.2% of the company’s stock are sold short.

Insider Buying and Selling at Coupang

In other Coupang news, insider Pranam Kolari sold 10,432 shares of the company’s stock in a transaction that occurred on Friday, August 2nd. The stock was sold at an average price of $19.90, for a total value of $207,596.80. Following the completion of the transaction, the insider now owns 170,356 shares in the company, valued at $3,390,084.40. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, insider Pranam Kolari sold 10,432 shares of the firm’s stock in a transaction dated Friday, August 2nd. The stock was sold at an average price of $19.90, for a total transaction of $207,596.80. Following the completion of the sale, the insider now directly owns 170,356 shares in the company, valued at $3,390,084.40. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Greenoaks Capital Partners Llc purchased 100,000 shares of the business’s stock in a transaction that occurred on Thursday, August 15th. The stock was acquired at an average price of $22.39 per share, for a total transaction of $2,239,000.00. Following the purchase, the director now owns 50,376,224 shares of the company’s stock, valued at approximately $1,127,923,655.36. This represents a 0.00 % increase in their position. The disclosure for this purchase can be found here. Over the last three months, insiders have purchased 601,300 shares of company stock valued at $13,604,354 and have sold 411,388 shares valued at $9,452,761. 13.60% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Coupang

Hedge funds and other institutional investors have recently modified their holdings of the stock. Baader Bank Aktiengesellschaft raised its stake in Coupang by 5.7% during the 2nd quarter. Baader Bank Aktiengesellschaft now owns 10,567 shares of the company’s stock valued at $219,000 after purchasing an additional 567 shares during the period. Resonant Capital Advisors LLC raised its position in Coupang by 6.0% during the second quarter. Resonant Capital Advisors LLC now owns 11,197 shares of the company’s stock valued at $235,000 after buying an additional 635 shares during the period. National Bank of Canada FI lifted its stake in Coupang by 15.4% in the 2nd quarter. National Bank of Canada FI now owns 6,687 shares of the company’s stock worth $141,000 after acquiring an additional 890 shares in the last quarter. Asset Dedication LLC boosted its position in Coupang by 438.1% during the 3rd quarter. Asset Dedication LLC now owns 1,216 shares of the company’s stock worth $30,000 after acquiring an additional 990 shares during the period. Finally, TCW Group Inc. grew its stake in Coupang by 6.4% during the 2nd quarter. TCW Group Inc. now owns 16,781 shares of the company’s stock valued at $352,000 after acquiring an additional 1,007 shares in the last quarter. Institutional investors and hedge funds own 83.72% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently commented on CPNG. CLSA upgraded Coupang from a “hold” rating to an “outperform” rating and lifted their target price for the stock from $18.00 to $31.00 in a research report on Wednesday, September 4th. Morgan Stanley boosted their target price on shares of Coupang from $26.00 to $27.00 and gave the company an “overweight” rating in a research note on Wednesday, June 26th. Finally, Sanford C. Bernstein upgraded shares of Coupang from an “underperform” rating to an “outperform” rating and set a $30.00 price target on the stock in a research report on Monday, October 7th. One analyst has rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $27.56.

Coupang Price Performance

CPNG traded up $0.04 during trading on Thursday, reaching $25.42. The stock had a trading volume of 1,873,597 shares, compared to its average volume of 9,823,667. Coupang has a 1-year low of $13.51 and a 1-year high of $26.28. The firm has a market capitalization of $45.45 billion, a price-to-earnings ratio of 36.25, a price-to-earnings-growth ratio of 282.07 and a beta of 1.11. The stock has a 50 day moving average of $23.71 and a two-hundred day moving average of $22.21. The company has a quick ratio of 0.87, a current ratio of 1.12 and a debt-to-equity ratio of 0.72.

Coupang (NYSE:CPNG) last issued its quarterly earnings results on Tuesday, August 6th. The company reported $0.07 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.01) by $0.08. The company had revenue of $7.32 billion during the quarter, compared to the consensus estimate of $7.39 billion. Coupang had a net margin of 3.87% and a return on equity of 12.04%. Coupang’s revenue was up 25.4% on a year-over-year basis. During the same period in the prior year, the company earned $0.08 EPS. As a group, equities analysts anticipate that Coupang will post 0.09 EPS for the current fiscal year.

Coupang Company Profile

Coupang, Inc, together with its subsidiaries owns and operates retail business through its mobile applications and Internet websites primarily in South Korea. The company operates through Product Commerce and Developing Offerings segments. It sells various products and services in the categories of home goods and décor products, apparel, beauty products, fresh food and groceries, sporting goods, electronics, and everyday consumables, as well as travel, and restaurant order and delivery services.