Coupang, Inc. (NYSE:CPNG) Short Interest Update

Coupang, Inc. (NYSE:CPNG) was the recipient of a large decline in short interest in October. As of October 31st, there was short interest totalling 13,490,000 shares, a decline of 6.5% from the October 15th total of 14,430,000 shares. Currently, 1.1% of the company’s stock are sold short. Based on an average daily volume of 7,040,000 shares, the days-to-cover ratio is currently 1.9 days.

Insider Buying and Selling

In other news, Director Greenoaks Capital Partners Llc purchased 687,700 shares of the firm’s stock in a transaction that occurred on Monday, November 11th. The stock was bought at an average price of $24.08 per share, for a total transaction of $16,559,816.00. Following the completion of the purchase, the director now directly owns 52,726,423 shares of the company’s stock, valued at $1,269,652,265.84. The trade was a 1.32 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Bom Kim sold 15,000,000 shares of the business’s stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $22.97, for a total transaction of $344,550,000.00. Following the transaction, the chief executive officer now owns 2,000,000 shares of the company’s stock, valued at $45,940,000. This trade represents a 88.24 % decrease in their position. The disclosure for this sale can be found here. Insiders purchased 1,537,700 shares of company stock valued at $36,862,316 in the last three months. 13.60% of the stock is owned by corporate insiders.

Institutional Trading of Coupang

Institutional investors have recently added to or reduced their stakes in the stock. Acadian Asset Management LLC boosted its stake in shares of Coupang by 438.7% during the 1st quarter. Acadian Asset Management LLC now owns 5,581 shares of the company’s stock worth $99,000 after acquiring an additional 4,545 shares in the last quarter. Natixis acquired a new stake in Coupang in the first quarter valued at $3,894,000. Sax Wealth Advisors LLC increased its position in shares of Coupang by 6.4% in the first quarter. Sax Wealth Advisors LLC now owns 63,653 shares of the company’s stock valued at $1,132,000 after buying an additional 3,822 shares in the last quarter. Advisors Asset Management Inc. raised its stake in shares of Coupang by 16.4% during the 1st quarter. Advisors Asset Management Inc. now owns 8,236 shares of the company’s stock worth $147,000 after buying an additional 1,159 shares during the last quarter. Finally, Capital International Inc. CA boosted its position in shares of Coupang by 5.8% in the 1st quarter. Capital International Inc. CA now owns 1,401,119 shares of the company’s stock worth $24,926,000 after buying an additional 76,848 shares in the last quarter. Hedge funds and other institutional investors own 83.72% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on CPNG. Sanford C. Bernstein raised shares of Coupang from an “underperform” rating to an “outperform” rating and set a $30.00 price target for the company in a research report on Monday, October 7th. CLSA raised shares of Coupang from a “hold” rating to an “outperform” rating and lifted their target price for the company from $18.00 to $31.00 in a report on Wednesday, September 4th. One research analyst has rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $27.56.

Coupang Stock Down 0.5 %

Shares of NYSE:CPNG opened at $24.36 on Tuesday. Coupang has a fifty-two week low of $13.51 and a fifty-two week high of $26.91. The firm’s 50-day simple moving average is $24.94 and its 200-day simple moving average is $22.91. The company has a market cap of $43.82 billion, a price-to-earnings ratio of 42.74, a PEG ratio of 220.34 and a beta of 1.10. The company has a quick ratio of 0.86, a current ratio of 1.13 and a debt-to-equity ratio of 0.28.

Coupang (NYSE:CPNG) last released its earnings results on Tuesday, November 5th. The company reported $0.06 EPS for the quarter, beating analysts’ consensus estimates of $0.01 by $0.05. Coupang had a return on equity of 11.52% and a net margin of 3.57%. The company had revenue of $7.87 billion during the quarter, compared to the consensus estimate of $7.76 billion. During the same quarter last year, the company earned $0.05 earnings per share. Coupang’s quarterly revenue was up 27.2% compared to the same quarter last year. As a group, equities research analysts predict that Coupang will post 0.11 earnings per share for the current year.

About Coupang

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.