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

Coupang, Inc. (NYSE:CPNG) saw a significant drop in short interest in 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 trading volume of 6,850,000 shares, the days-to-cover ratio is currently 2.1 days. Currently, 1.2% of the company’s stock are sold short.

Insider Buying and Selling at Coupang

In other news, insider Pranam Kolari sold 10,432 shares of the business’s stock in a transaction on Friday, August 2nd. The shares were sold at an average price of $19.90, for a total transaction of $207,596.80. Following the transaction, the insider now directly owns 170,356 shares of the company’s stock, valued at approximately $3,390,084.40. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, insider Pranam Kolari sold 10,432 shares of the business’s stock in a transaction dated Friday, August 2nd. The stock was sold at an average price of $19.90, for a total value of $207,596.80. Following the transaction, the insider now owns 170,356 shares in the company, valued at approximately $3,390,084.40. The trade was a 0.00 % decrease 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, Director Greenoaks Capital Partners Llc purchased 150,000 shares of Coupang stock in a transaction that occurred on Friday, August 9th. The stock was acquired at an average cost of $22.64 per share, with a total value of $3,396,000.00. Following the acquisition, the director now directly owns 49,874,924 shares of the company’s stock, valued at $1,129,168,279.36. The trade was a 0.00 % increase in their position. The disclosure for this purchase can be found here. Over the last 90 days, insiders bought 601,300 shares of company stock valued at $13,604,354 and sold 411,388 shares valued at $9,452,761. 13.60% of the stock is owned by corporate insiders.

Institutional Trading of Coupang

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Creative Planning raised its holdings in shares of Coupang by 27.6% during the third quarter. Creative Planning now owns 14,407 shares of the company’s stock valued at $354,000 after acquiring an additional 3,117 shares during the period. Exchange Traded Concepts LLC raised its stake in Coupang by 2.8% during the 3rd quarter. Exchange Traded Concepts LLC now owns 162,396 shares of the company’s stock valued at $3,987,000 after purchasing an additional 4,470 shares during the period. Jessup Wealth Management Inc purchased a new stake in shares of Coupang in the third quarter valued at $541,000. Wedmont Private Capital acquired a new stake in shares of Coupang in the third quarter worth $1,818,000. Finally, CWM LLC grew its holdings in shares of Coupang by 31.8% during the third quarter. CWM LLC now owns 177,743 shares of the company’s stock valued at $4,364,000 after buying an additional 42,899 shares in the last quarter. Institutional investors and hedge funds own 83.72% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on CPNG shares. CLSA raised shares of Coupang from a “hold” rating to an “outperform” rating and increased their price target for the stock 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 report on Monday, October 7th. Finally, Morgan Stanley boosted their price target on Coupang from $26.00 to $27.00 and gave the company an “overweight” rating in a report on Wednesday, June 26th. One analyst has rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Coupang currently has an average rating of “Moderate Buy” and an average target price of $27.56.

Coupang Stock Down 0.2 %

Shares of CPNG stock opened at $25.65 on Tuesday. Coupang has a 1 year low of $13.51 and a 1 year high of $26.28. The company has a debt-to-equity ratio of 0.72, a quick ratio of 0.87 and a current ratio of 1.12. The business’s fifty day moving average is $23.54 and its 200-day moving average is $22.14. The stock has a market cap of $45.86 billion, a PE ratio of 36.64, a price-to-earnings-growth ratio of 282.07 and a beta of 1.11.

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