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

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

Analyst Upgrades and Downgrades

CPNG has been the subject of a number of research reports. CLSA raised shares of Coupang from a “hold” rating to an “outperform” rating and increased their price target for the company from $18.00 to $31.00 in a report on Wednesday, September 4th. Morgan Stanley lifted their target price on Coupang from $26.00 to $27.00 and gave the stock an “overweight” rating in a research report on Wednesday, June 26th. Finally, Sanford C. Bernstein raised Coupang from an “underperform” rating to an “outperform” rating and set a $30.00 price target for the company in a report on Monday, October 7th. One investment analyst has rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $27.56.

Insiders Place Their Bets

In related news, insider Pranam Kolari sold 10,432 shares of the firm’s stock in a transaction on Friday, August 2nd. The shares were sold at an average price of $19.90, for a total value of $207,596.80. Following the transaction, the insider now directly owns 170,356 shares in the company, valued at approximately $3,390,084.40. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. In related news, insider Pranam Kolari sold 10,432 shares of the business’s stock in a transaction dated 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 transaction, the insider now owns 170,356 shares of the company’s stock, valued at approximately $3,390,084.40. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Greenoaks Capital Partners Llc bought 100,000 shares of the stock in a transaction on Wednesday, August 21st. The stock was acquired at an average cost of $22.95 per share, for a total transaction of $2,295,000.00. Following the acquisition, the director now directly owns 50,476,224 shares in the company, valued at approximately $1,158,429,340.80. The trade was a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last 90 days, insiders purchased 601,300 shares of company stock valued at $13,604,354 and sold 411,388 shares valued at $9,452,761. Company insiders own 13.60% of the company’s stock.

Institutional Investors Weigh In On Coupang

A number of hedge funds have recently made changes to their positions in CPNG. Bleakley Financial Group LLC raised its position in Coupang by 17.9% in the 1st quarter. Bleakley Financial Group LLC now owns 17,880 shares of the company’s stock valued at $318,000 after purchasing an additional 2,710 shares during the last quarter. Handelsbanken Fonder AB raised its holdings in shares of Coupang by 2.9% in the third quarter. Handelsbanken Fonder AB now owns 884,144 shares of the company’s stock valued at $21,706,000 after buying an additional 24,553 shares during the last quarter. Mitsubishi UFJ Trust & Banking Corp lifted its position 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 worth $39,801,000 after buying an additional 110,700 shares in the last quarter. Assenagon Asset Management S.A. grew its holdings in Coupang by 55.5% during the 2nd quarter. Assenagon Asset Management S.A. now owns 4,524,994 shares of the company’s stock worth $94,799,000 after acquiring an additional 1,615,448 shares during the last quarter. Finally, GSA Capital Partners LLP increased its position in Coupang by 767.9% in the 1st quarter. GSA Capital Partners LLP now owns 108,990 shares of the company’s stock valued at $1,939,000 after acquiring an additional 96,432 shares in the last quarter. Institutional investors and hedge funds own 83.72% of the company’s stock.

Coupang Price Performance

Shares of CPNG stock traded up $0.04 during trading hours on Thursday, hitting $25.42. The company had a trading volume of 1,873,597 shares, compared to its average volume of 9,823,667. Coupang has a 12 month low of $13.51 and a 12 month high of $26.28. The company has a debt-to-equity ratio of 0.72, a quick ratio of 0.87 and a current ratio of 1.12. The firm’s fifty day moving average is $23.71 and its 200 day moving average is $22.21. The firm has a market capitalization of $45.45 billion, a price-to-earnings ratio of 36.25, a PEG ratio of 282.07 and a beta of 1.11.

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