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

Coupang, Inc. (NYSE:CPNG) saw a significant decline in short interest in November. As of November 30th, there was short interest totalling 14,950,000 shares, a decline of 12.4% from the November 15th total of 17,070,000 shares. Currently, 1.3% of the shares of the stock are sold short. Based on an average daily volume of 7,790,000 shares, the days-to-cover ratio is currently 1.9 days.

Insiders Place Their Bets

In other Coupang news, Director Greenoaks Capital Partners Llc purchased 687,700 shares of the stock in a transaction on Monday, November 11th. The stock was bought at an average cost of $24.08 per share, for a total transaction of $16,559,816.00. Following the completion of the acquisition, the director now directly owns 52,726,423 shares of the company’s stock, valued at $1,269,652,265.84. The trade was a 1.32 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Bom Kim sold 15,000,000 shares of the stock in a transaction dated 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 transaction, the chief executive officer now owns 2,000,000 shares of the company’s stock, valued at approximately $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 own 13.60% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in CPNG. Lord Abbett & CO. LLC boosted its stake in Coupang by 269.3% in the third quarter. Lord Abbett & CO. LLC now owns 1,292,886 shares of the company’s stock valued at $31,740,000 after acquiring an additional 942,839 shares in the last quarter. Tidal Investments LLC acquired a new position in Coupang during the third quarter valued at $5,646,000. Wilmington Savings Fund Society FSB acquired a new position in Coupang in the 3rd quarter worth about $1,094,000. Advisory Resource Group increased its holdings in Coupang by 1.9% in the 3rd quarter. Advisory Resource Group now owns 44,096 shares of the company’s stock worth $1,083,000 after acquiring an additional 823 shares in the last quarter. Finally, Coldstream Capital Management Inc. increased its stake in shares of Coupang by 10.1% during the third quarter. Coldstream Capital Management Inc. now owns 15,517 shares of the company’s stock worth $382,000 after purchasing an additional 1,427 shares in the last quarter. Institutional investors own 83.72% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the company. CLSA upgraded Coupang from a “hold” rating to an “outperform” rating and lifted their price target for the company from $18.00 to $31.00 in a research note on Wednesday, September 4th. Sanford C. Bernstein raised Coupang from an “underperform” rating to an “outperform” rating and set a $30.00 price objective on the stock in a research note on Monday, October 7th. One analyst has rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat.com, Coupang has an average rating of “Moderate Buy” and a consensus target price of $27.56.

Coupang Stock Down 0.3 %

Shares of CPNG traded down $0.08 during mid-day trading on Tuesday, reaching $23.52. The company had a trading volume of 13,427,004 shares, compared to its average volume of 9,657,425. The company has a market capitalization of $42.31 billion, a price-to-earnings ratio of 40.93, a price-to-earnings-growth ratio of 215.03 and a beta of 1.07. Coupang has a 52 week low of $13.51 and a 52 week high of $26.91. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.86 and a current ratio of 1.13. The firm has a 50-day moving average price of $24.93 and a 200 day moving average price of $23.15.

Coupang (NYSE:CPNG) last posted its quarterly earnings data 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 during the quarter, compared to analyst estimates of $7.76 billion. During the same period in the prior year, the business posted $0.05 EPS. Coupang’s revenue was up 27.2% on a year-over-year basis. On average, sell-side analysts forecast that Coupang will post 0.11 EPS for the current year.

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.