Coupang Sees Unusually High Options Volume (NYSE:CPNG)

Coupang, Inc. (NYSE:CPNG) was the recipient of unusually large options trading on Wednesday. Traders purchased 22,485 call options on the company. This represents an increase of 64% compared to the average volume of 13,746 call options.

Coupang Stock Performance

CPNG traded down $3.81 during mid-day trading on Wednesday, reaching $23.08. 9,019,759 shares of the company traded hands, compared to its average volume of 9,611,492. The stock has a market capitalization of $41.40 billion, a P/E ratio of 39.97 and a beta of 1.10. Coupang has a 52-week low of $13.51 and a 52-week high of $26.91. The company has a quick ratio of 0.87, a current ratio of 1.12 and a debt-to-equity ratio of 0.72. The company’s fifty day moving average price is $24.45 and its 200-day moving average price is $22.75.

Coupang (NYSE:CPNG) last announced its earnings results on Tuesday, November 5th. The company reported $0.06 EPS for the quarter, beating analysts’ consensus estimates of $0.01 by $0.05. Coupang had a net margin of 3.87% and a return on equity of 12.04%. The business had revenue of $7.87 billion during the quarter, compared to analysts’ expectations of $7.76 billion. During the same period in the prior year, the company earned $0.05 earnings per share. The firm’s revenue was up 27.2% on a year-over-year basis. On average, sell-side analysts expect that Coupang will post -0.03 EPS for the current year.

Insiders Place Their Bets

In related news, Director Greenoaks Capital Partners Llc acquired 100,000 shares of the business’s stock in a transaction dated Wednesday, August 21st. The shares were bought at an average price of $22.95 per share, with a total value of $2,295,000.00. Following the transaction, the director now directly owns 50,476,224 shares of the company’s stock, valued at $1,158,429,340.80. This trade represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, Director Greenoaks Capital Partners Llc acquired 100,000 shares of the firm’s stock in a transaction on Wednesday, August 21st. The stock was purchased at an average cost of $22.95 per share, with a total value of $2,295,000.00. Following the acquisition, the director now owns 50,476,224 shares of the company’s stock, valued at approximately $1,158,429,340.80. This trade represents a 0.00 % increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CFO Gaurav Anand sold 200,000 shares of the firm’s stock in a transaction on Tuesday, August 13th. The shares were sold at an average price of $22.75, for a total value of $4,550,000.00. Following the transaction, the chief financial officer now owns 1,937,500 shares in the company, valued at approximately $44,078,125. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have acquired 601,300 shares of company stock worth $13,604,354 and have sold 400,956 shares worth $9,245,164. Company insiders own 13.60% of the company’s stock.

Institutional Trading of Coupang

Several hedge funds have recently bought and sold shares of the stock. Bleakley Financial Group LLC boosted its position in shares of Coupang by 17.9% during the 1st quarter. Bleakley Financial Group LLC now owns 17,880 shares of the company’s stock valued at $318,000 after acquiring an additional 2,710 shares during the last quarter. Handelsbanken Fonder AB raised its position in Coupang by 2.9% in the 3rd quarter. Handelsbanken Fonder AB now owns 884,144 shares of the company’s stock worth $21,706,000 after purchasing an additional 24,553 shares during the period. Mitsubishi UFJ Trust & Banking Corp boosted its holdings in Coupang by 5.2% during the 1st quarter. Mitsubishi UFJ Trust & Banking Corp now owns 2,237,250 shares of the company’s stock valued at $39,801,000 after acquiring an additional 110,700 shares during the period. abrdn plc increased its stake in Coupang by 40.2% in the 3rd quarter. abrdn plc now owns 202,359 shares of the company’s stock worth $4,968,000 after buying an additional 58,060 shares during the period. Finally, Coronation Fund Managers Ltd. grew its stake in Coupang by 139.1% in the third quarter. Coronation Fund Managers Ltd. now owns 4,817,030 shares of the company’s stock worth $118,258,000 after purchasing an additional 2,802,325 shares in the last quarter. Institutional investors own 83.72% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on CPNG. Sanford C. Bernstein upgraded Coupang from an “underperform” rating to an “outperform” rating and set a $30.00 target price on the stock in a research note on Monday, October 7th. CLSA raised Coupang from a “hold” rating to an “outperform” rating and lifted their price objective for the company from $18.00 to $31.00 in a research note on Wednesday, September 4th. One research analyst has rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat.com, Coupang currently 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.