Short Interest in Coupang, Inc. (NYSE:CPNG) Drops By 12.4%

Coupang, Inc. (NYSE:CPNG) was the target of a significant decline in short interest in November. As of November 30th, there was short interest totalling 14,950,000 shares, a decline of 12.4% from the November 15th total of 17,070,000 shares. Based on an average daily trading volume, of 7,790,000 shares, the days-to-cover ratio is presently 1.9 days. Currently, 1.3% of the company’s shares are short sold.

Insider Transactions at Coupang

In other Coupang news, Director Greenoaks Capital Partners Llc acquired 687,700 shares of the stock in a transaction on Monday, November 11th. The stock was purchased at an average price of $24.08 per share, for a total transaction of $16,559,816.00. Following the purchase, the director now directly owns 52,726,423 shares in the company, valued at $1,269,652,265.84. This trade represents a 1.32 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Bom Kim sold 15,000,000 shares of Coupang stock in a transaction 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 completion of the sale, the chief executive officer now owns 2,000,000 shares of the company’s stock, valued at approximately $45,940,000. This trade represents a 88.24 % decrease in their position. The disclosure for this sale can be found here. Insiders own 13.60% of the company’s stock.

Institutional Investors Weigh In On Coupang

Several hedge funds and other institutional investors have recently made changes to their positions in CPNG. FMR LLC raised its holdings in shares of Coupang by 32.0% in the 3rd quarter. FMR LLC now owns 27,153,608 shares of the company’s stock worth $666,621,000 after buying an additional 6,584,910 shares in the last quarter. Coronation Fund Managers Ltd. increased its holdings in shares of Coupang by 139.1% in the third quarter. Coronation Fund Managers Ltd. now owns 4,817,030 shares of the company’s stock valued at $118,258,000 after purchasing an additional 2,802,325 shares in the last quarter. Baillie Gifford & Co. lifted its holdings in Coupang by 1.6% during the 2nd quarter. Baillie Gifford & Co. now owns 171,350,025 shares of the company’s stock worth $3,589,783,000 after buying an additional 2,749,027 shares in the last quarter. Wellington Management Group LLP lifted its stake in shares of Coupang by 43.2% during the third quarter. Wellington Management Group LLP now owns 8,630,058 shares of the company’s stock valued at $211,868,000 after acquiring an additional 2,603,046 shares during the period. Finally, Jacobs Levy Equity Management Inc. increased its position in Coupang by 762.2% in the third quarter. Jacobs Levy Equity Management Inc. now owns 2,798,782 shares of the company’s stock worth $68,710,000 after purchasing an additional 2,474,175 shares during the period. 83.72% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on CPNG. CLSA raised Coupang from a “hold” rating to an “outperform” rating and upped their price target for the company from $18.00 to $31.00 in a research report on Wednesday, September 4th. Sanford C. Bernstein raised Coupang from an “underperform” rating to an “outperform” rating and set a $30.00 target price on the stock in a research note on Monday, October 7th. 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 target price of $27.56.

Coupang Stock Down 1.8 %

CPNG traded down $0.43 on Friday, reaching $23.89. 6,092,863 shares of the company traded hands, compared to its average volume of 9,658,216. Coupang has a 52-week low of $13.51 and a 52-week high of $26.91. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.13 and a quick ratio of 0.86. The company has a market cap of $42.97 billion, a price-to-earnings ratio of 41.91, a PEG ratio of 215.03 and a beta of 1.07. The stock’s 50 day moving average price is $24.97 and its 200-day moving average price is $23.15.

Coupang (NYSE:CPNG) last issued its earnings results on Tuesday, November 5th. The company reported $0.06 earnings per share for the quarter, topping the consensus estimate of $0.01 by $0.05. The company had revenue of $7.87 billion for the quarter, compared to analyst estimates of $7.76 billion. Coupang had a return on equity of 11.52% and a net margin of 3.57%. The business’s revenue was up 27.2% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.05 EPS. On average, sell-side analysts expect that Coupang will post 0.11 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.