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

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

Insider Activity

In related news, Director Greenoaks Capital Partners Llc bought 100,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 21st. The stock was bought at an average cost of $22.95 per share, with a total value of $2,295,000.00. Following the completion of the purchase, the director now owns 50,476,224 shares of the company’s stock, valued at approximately $1,158,429,340.80. The trade was a 0.20 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Bom Kim sold 15,000,000 shares of the firm’s stock in a transaction on Monday, November 11th. The shares were 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 directly owns 2,000,000 shares of the company’s stock, valued at $45,940,000. The trade was a 88.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have bought 1,537,700 shares of company stock worth $36,862,316 in the last three months. Company insiders own 13.60% of the company’s stock.

Institutional Investors Weigh In On Coupang

Several large investors have recently modified their holdings of the business. Van ECK Associates Corp raised its holdings in shares of 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 purchasing an additional 484 shares in the last quarter. Baader Bank Aktiengesellschaft boosted its holdings in shares of Coupang by 5.7% in the 2nd quarter. Baader Bank Aktiengesellschaft now owns 10,567 shares of the company’s stock valued at $219,000 after acquiring an additional 567 shares during the last quarter. Covestor Ltd boosted its holdings in shares of Coupang by 10.4% in the 3rd quarter. Covestor Ltd now owns 6,479 shares of the company’s stock valued at $159,000 after acquiring an additional 612 shares during the last quarter. Resonant Capital Advisors LLC boosted its holdings in shares of Coupang by 6.0% in the 2nd quarter. Resonant Capital Advisors LLC now owns 11,197 shares of the company’s stock valued at $235,000 after acquiring an additional 635 shares during the last quarter. Finally, Janus Henderson Group PLC boosted its holdings in shares of Coupang by 2.2% in the 3rd quarter. Janus Henderson Group PLC now owns 34,598 shares of the company’s stock valued at $850,000 after acquiring an additional 747 shares during the last quarter. Institutional investors own 83.72% of the company’s stock.

Coupang Trading Down 1.1 %

CPNG traded down $0.26 on Monday, reaching $24.22. 2,808,299 shares of the company traded hands, compared to its average volume of 9,754,606. Coupang has a one year low of $13.51 and a one year high of $26.91. The firm has a fifty day simple moving average of $24.90 and a two-hundred day simple moving average of $22.90. The company has a market cap of $43.57 billion, a P/E ratio of 42.95, a price-to-earnings-growth 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 announced its quarterly earnings data on Tuesday, November 5th. The company reported $0.06 earnings per share for the quarter, beating analysts’ consensus estimates of $0.01 by $0.05. Coupang had a net margin of 3.57% and a return on equity of 11.52%. The company had revenue of $7.87 billion during the quarter, compared to analyst estimates of $7.76 billion. During the same quarter last year, the business posted $0.05 EPS. The firm’s revenue for the quarter was up 27.2% on a year-over-year basis. As a group, equities research analysts expect that Coupang will post 0.11 earnings per share for the current year.

Wall Street Analysts Forecast Growth

CPNG has been the subject of several research analyst reports. CLSA raised shares of Coupang from a “hold” rating to an “outperform” rating and raised their target price for the company from $18.00 to $31.00 in a research note on Wednesday, September 4th. Sanford C. Bernstein raised shares of Coupang from an “underperform” rating to an “outperform” rating and set a $30.00 price objective for the company in a research note on Monday, October 7th. One investment analyst has rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat, Coupang currently has a consensus rating of “Moderate Buy” and a consensus price target of $27.56.

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.