Coupang, Inc. (NYSE:CPNG) Short Interest Down 6.5% in October

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

Analyst Ratings Changes

A number of research analysts have commented on the stock. Sanford C. Bernstein upgraded shares of 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. CLSA upgraded shares of Coupang from a “hold” rating to an “outperform” rating and boosted 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. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $27.56.

Coupang Stock Down 0.7 %

Shares of NYSE:CPNG opened at $24.19 on Wednesday. The firm has a market cap of $43.51 billion, a PE ratio of 42.44, a price-to-earnings-growth ratio of 220.34 and a beta of 1.10. The company has a fifty day simple moving average of $24.97 and a 200 day simple moving average of $22.92. The company has a current ratio of 1.13, a quick ratio of 0.86 and a debt-to-equity ratio of 0.28. Coupang has a 12-month low of $13.51 and a 12-month high of $26.91.

Coupang (NYSE:CPNG) last issued its earnings results on Tuesday, November 5th. The company reported $0.06 earnings per share (EPS) 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 business had revenue of $7.87 billion for the quarter, compared to analyst estimates of $7.76 billion. During the same quarter in the prior year, the business posted $0.05 EPS. The company’s revenue for the quarter was up 27.2% on a year-over-year basis. On average, equities research analysts anticipate that Coupang will post 0.11 EPS for the current fiscal year.

Insider Transactions at Coupang

In related news, Director Greenoaks Capital Partners Llc acquired 687,700 shares of Coupang stock in a transaction dated Monday, November 11th. The stock was acquired at an average price of $24.08 per share, for a total transaction of $16,559,816.00. Following the transaction, the director now owns 52,726,423 shares of the company’s stock, valued at $1,269,652,265.84. This represents a 1.32 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Bom Kim sold 15,000,000 shares of the company’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 completion of 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 position. The disclosure for this sale can be found here. Corporate insiders own 13.60% of the company’s stock.

Institutional Trading of Coupang

Several institutional investors have recently added to or reduced their stakes in CPNG. Acadian Asset Management LLC lifted its holdings in shares of Coupang by 438.7% in the 1st quarter. Acadian Asset Management LLC now owns 5,581 shares of the company’s stock worth $99,000 after purchasing an additional 4,545 shares during the last quarter. Natixis bought a new stake in Coupang during the first quarter worth approximately $3,894,000. Sax Wealth Advisors LLC lifted its position in Coupang by 6.4% in the first quarter. Sax Wealth Advisors LLC now owns 63,653 shares of the company’s stock worth $1,132,000 after purchasing an additional 3,822 shares during the period. Advisors Asset Management Inc. boosted its stake in Coupang by 16.4% during the 1st quarter. Advisors Asset Management Inc. now owns 8,236 shares of the company’s stock valued at $147,000 after purchasing an additional 1,159 shares in the last quarter. Finally, Capital International Inc. CA increased its position in shares of Coupang by 5.8% during the 1st quarter. Capital International Inc. CA now owns 1,401,119 shares of the company’s stock valued at $24,926,000 after purchasing an additional 76,848 shares during the period. Institutional investors own 83.72% of the company’s stock.

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.