Short Interest in Coupang, Inc. (NYSE:CPNG) Declines By 12.4%

Coupang, Inc. (NYSE:CPNG) was the target of a significant decline in short interest in the month of 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. Approximately 1.3% of the shares of the company are short sold. Based on an average daily trading volume, of 7,790,000 shares, the short-interest ratio is currently 1.9 days.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on CPNG shares. 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 research note on Monday, October 7th. CLSA raised Coupang from a “hold” rating to an “outperform” rating and raised their target price 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 stock. Based on data from MarketBeat.com, Coupang presently has an average rating of “Moderate Buy” and an average price target of $27.56.

Insider Transactions at Coupang

In related news, CEO Bom Kim sold 15,000,000 shares of the company’s stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $22.97, for a total value of $344,550,000.00. Following the completion of the sale, the chief executive officer now owns 2,000,000 shares of the company’s stock, valued at $45,940,000. This represents a 88.24 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Greenoaks Capital Partners Llc bought 687,700 shares of the stock in a transaction on Monday, November 11th. The shares were bought at an average cost of $24.08 per share, for a total transaction of $16,559,816.00. Following the purchase, the director now owns 52,726,423 shares in the company, valued at $1,269,652,265.84. This trade represents a 1.32 % increase in their position. The disclosure for this purchase can be found here. Insiders own 13.60% of the company’s stock.

Institutional Investors Weigh In On Coupang

Large investors have recently made changes to their positions in the company. Baillie Gifford & Co. grew its position in Coupang by 1.6% during the 2nd quarter. Baillie Gifford & Co. now owns 171,350,025 shares of the company’s stock worth $3,589,783,000 after purchasing an additional 2,749,027 shares in the last quarter. FMR LLC boosted its position in shares of Coupang by 32.0% in the third quarter. FMR LLC now owns 27,153,608 shares of the company’s stock worth $666,621,000 after buying an additional 6,584,910 shares during the period. State Street Corp grew its holdings in shares of Coupang by 1.9% during the third quarter. State Street Corp now owns 14,125,599 shares of the company’s stock valued at $346,783,000 after buying an additional 259,400 shares in the last quarter. Wellington Management Group LLP raised its position in Coupang by 43.2% during the third quarter. Wellington Management Group LLP now owns 8,630,058 shares of the company’s stock valued at $211,868,000 after buying an additional 2,603,046 shares during the period. Finally, Dorsal Capital Management LP lifted its stake in Coupang by 26.3% in the 2nd 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 in the last quarter. Institutional investors and hedge funds own 83.72% of the company’s stock.

Coupang Price Performance

Shares of NYSE CPNG traded down $0.08 during mid-day trading on Tuesday, reaching $23.52. The company had a trading volume of 13,717,639 shares, compared to its average volume of 9,658,625. Coupang has a 1-year low of $13.51 and a 1-year high of $26.91. The stock has a market cap of $42.31 billion, a PE ratio of 40.93, a P/E/G ratio of 215.03 and a beta of 1.07. The company has a current ratio of 1.13, a quick ratio of 0.86 and a debt-to-equity ratio of 0.28. The company has a 50-day moving average price of $24.93 and a two-hundred 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 earnings per share (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 for the quarter, compared to the consensus estimate of $7.76 billion. During the same quarter in the previous year, the company earned $0.05 EPS. The business’s revenue for the quarter was up 27.2% compared to the same quarter last year. On average, equities analysts anticipate that Coupang will post 0.11 earnings per share 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.