Coupang, Inc. (NYSE:CPNG) Sees Significant Decrease in Short Interest

Coupang, Inc. (NYSE:CPNG) was the recipient of a large decline in short interest in the month of September. As of September 30th, there was short interest totalling 14,300,000 shares, a decline of 11.4% from the September 15th total of 16,140,000 shares. Currently, 1.2% of the company’s shares are sold short. Based on an average daily volume of 6,850,000 shares, the short-interest ratio is currently 2.1 days.

Insider Transactions at Coupang

In other news, insider Pranam Kolari sold 10,432 shares of Coupang 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 completion of the transaction, the insider now directly owns 170,356 shares of the company’s stock, valued at approximately $3,390,084.40. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, Director Greenoaks Capital Partners Llc bought 150,000 shares of the company’s stock in a transaction that occurred on Friday, August 9th. The shares were bought at an average price of $22.64 per share, for a total transaction of $3,396,000.00. Following the transaction, the director now directly owns 49,874,924 shares of the company’s stock, valued at approximately $1,129,168,279.36. The trade was a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Pranam Kolari sold 10,432 shares of the firm’s stock in a transaction on Friday, August 2nd. The stock was sold at an average price of $19.90, for a total transaction of $207,596.80. Following the completion of the sale, the insider now owns 170,356 shares of the company’s stock, valued at $3,390,084.40. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have bought 601,300 shares of company stock worth $13,604,354 and have sold 411,388 shares worth $9,452,761. Corporate insiders own 13.60% of the company’s stock.

Hedge Funds Weigh In On Coupang

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Baillie Gifford & Co. lifted its holdings in Coupang by 1.6% during the second 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. Price T Rowe Associates Inc. MD raised its stake in shares of Coupang by 31.5% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 78,865,294 shares of the company’s stock worth $1,403,015,000 after purchasing an additional 18,894,909 shares during the period. Kontiki Capital Management HK Ltd. boosted its holdings in shares of Coupang by 1.9% in the 1st quarter. Kontiki Capital Management HK Ltd. now owns 8,693,468 shares of the company’s stock worth $154,657,000 after buying an additional 159,900 shares during the last quarter. Bamco Inc. NY grew its position in Coupang by 9.6% during the first quarter. Bamco Inc. NY now owns 7,942,062 shares of the company’s stock valued at $141,289,000 after buying an additional 693,898 shares during the period. Finally, Dorsal Capital Management LP raised its position in Coupang by 26.3% in the second quarter. Dorsal Capital Management LP now owns 6,000,000 shares of the company’s stock worth $125,700,000 after acquiring an additional 1,250,000 shares during the period. Hedge funds and other institutional investors own 83.72% of the company’s stock.

Coupang Stock Down 0.1 %

Shares of NYSE:CPNG traded down $0.02 during mid-day trading on Thursday, hitting $25.36. 1,342,144 shares of the company traded hands, compared to its average volume of 9,821,023. The company has a current ratio of 1.12, a quick ratio of 0.87 and a debt-to-equity ratio of 0.72. The stock has a 50-day moving average price of $23.71 and a two-hundred day moving average price of $22.21. Coupang has a 12-month low of $13.51 and a 12-month high of $26.28. The stock has a market cap of $45.34 billion, a P/E ratio of 36.25, a P/E/G ratio of 282.07 and a beta of 1.11.

Coupang (NYSE:CPNG) last posted its earnings results on Tuesday, August 6th. The company reported $0.07 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.01) by $0.08. Coupang had a net margin of 3.87% and a return on equity of 12.04%. The firm had revenue of $7.32 billion during the quarter, compared to analyst estimates of $7.39 billion. During the same quarter in the prior year, the business posted $0.08 EPS. The business’s revenue was up 25.4% compared to the same quarter last year. On average, equities research analysts forecast that Coupang will post 0.09 earnings per share for the current year.

Analysts Set New Price Targets

Several analysts have recently commented on the company. Sanford C. Bernstein upgraded Coupang from an “underperform” rating to an “outperform” rating and set a $30.00 target price for the company in a research note on Monday, October 7th. Morgan Stanley raised their price objective on Coupang from $26.00 to $27.00 and gave the company an “overweight” rating in a research note on Wednesday, June 26th. Finally, CLSA raised Coupang from a “hold” rating to an “outperform” rating and upped their target price for the stock from $18.00 to $31.00 in a research report on Wednesday, September 4th. One investment analyst has rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat, Coupang presently has an average rating of “Moderate Buy” and an average target price 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.