Short Interest in Coupang, Inc. (NYSE:CPNG) Decreases By 6.5%

Coupang, Inc. (NYSE:CPNG) was the target of a significant drop in short interest during 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 trading volume of 7,040,000 shares, the short-interest ratio is presently 1.9 days.

Insider Activity at Coupang

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

Hedge Funds Weigh In On Coupang

Large investors have recently added to or reduced their stakes in the company. Price T Rowe Associates Inc. MD boosted its stake in Coupang by 31.5% in the first quarter. Price T Rowe Associates Inc. MD now owns 78,865,294 shares of the company’s stock valued at $1,403,015,000 after acquiring an additional 18,894,909 shares during the period. FMR LLC grew its stake in Coupang by 32.0% during 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 during the last quarter. Coronation Fund Managers Ltd. grew its position in shares of Coupang by 139.1% during the third quarter. Coronation Fund Managers Ltd. now owns 4,817,030 shares of the company’s stock worth $118,258,000 after acquiring an additional 2,802,325 shares during the last quarter. Baillie Gifford & Co. increased its holdings in shares of Coupang by 1.6% in the 2nd quarter. Baillie Gifford & Co. now owns 171,350,025 shares of the company’s stock worth $3,589,783,000 after acquiring an additional 2,749,027 shares during the period. Finally, Wellington Management Group LLP boosted its stake in Coupang by 43.2% during the 3rd quarter. Wellington Management Group LLP now owns 8,630,058 shares of the company’s stock valued at $211,868,000 after purchasing an additional 2,603,046 shares during the period. 83.72% of the stock is currently owned by institutional investors.

Coupang Trading Down 0.5 %

NYSE:CPNG opened at $24.36 on Tuesday. Coupang has a 12 month low of $13.51 and a 12 month high of $26.91. The business’s 50-day moving average is $24.94 and its two-hundred day moving average is $22.91. 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 firm has a market capitalization of $43.82 billion, a PE ratio of 42.74, a price-to-earnings-growth ratio of 220.34 and a beta of 1.10.

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

Analyst Ratings Changes

CPNG has been the topic of a number of recent analyst reports. 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 note on Wednesday, September 4th. Sanford C. Bernstein upgraded Coupang from an “underperform” rating to an “outperform” rating and set a $30.00 price objective for the company in a report on Monday, October 7th. One analyst has rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $27.56.

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.