Traders Buy Large Volume of Call Options on Coupang (NYSE:CPNG)

Coupang, Inc. (NYSE:CPNG) was the target of unusually large options trading on Wednesday. Traders bought 20,200 call options on the company. This represents an increase of approximately 60% compared to the typical daily volume of 12,591 call options.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on CPNG. Barclays raised their price objective on shares of Coupang from $32.00 to $34.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 12th. Mizuho upped their price objective on Coupang from $25.00 to $27.00 and gave the company a “neutral” rating in a research note on Wednesday. Deutsche Bank Aktiengesellschaft raised shares of Coupang from a “hold” rating to a “buy” rating and set a $28.50 price objective on the stock in a report on Wednesday. Finally, Citigroup dropped their price target on Coupang from $31.00 to $28.00 and set a “buy” rating on the stock in a report on Wednesday, January 8th. One equities research analyst has rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $29.06.

Insider Transactions at Coupang

In related news, VP Pranam Kolari sold 8,459 shares of the firm’s stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $22.98, for a total value of $194,387.82. Following the completion of the sale, the vice president now owns 136,806 shares in the company, valued at $3,143,801.88. This trade represents a 5.82 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 13.60% of the company’s stock.

Institutional Trading of Coupang

Several large investors have recently made changes to their positions in CPNG. Brooklyn Investment Group acquired a new stake in Coupang during the 3rd quarter worth $28,000. Wingate Wealth Advisors Inc. acquired a new position in Coupang during the fourth quarter worth about $26,000. Van ECK Associates Corp raised its holdings in Coupang by 63.1% in the 3rd quarter. Van ECK Associates Corp now owns 1,251 shares of the company’s stock valued at $32,000 after buying an additional 484 shares during the last quarter. Berbice Capital Management LLC bought a new position in Coupang during the 4th quarter worth $31,000. Finally, Itau Unibanco Holding S.A. increased its stake in shares of Coupang by 520.6% in the 4th quarter. Itau Unibanco Holding S.A. now owns 1,955 shares of the company’s stock valued at $43,000 after acquiring an additional 1,640 shares in the last quarter. Institutional investors own 83.72% of the company’s stock.

Coupang Price Performance

Shares of CPNG stock traded up $1.17 during mid-day trading on Wednesday, reaching $25.34. The company’s stock had a trading volume of 7,243,730 shares, compared to its average volume of 7,983,643. The company has a market cap of $45.58 billion, a P/E ratio of 44.39, a PEG ratio of 52.20 and a beta of 1.11. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.86 and a current ratio of 1.13. The firm’s 50-day moving average is $23.13 and its two-hundred day moving average is $23.86. Coupang has a 1-year low of $16.45 and a 1-year high of $26.91.

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.