Short Interest in Coupang, Inc. (NYSE:CPNG) Increases By 29.2%

Coupang, Inc. (NYSE:CPNG) saw a significant growth in short interest during the month of February. As of February 28th, there was short interest totalling 17,040,000 shares, a growth of 29.2% from the February 13th total of 13,190,000 shares. Currently, 1.4% of the shares of the stock are short sold. Based on an average daily volume of 7,760,000 shares, the short-interest ratio is currently 2.2 days.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on CPNG. Deutsche Bank Aktiengesellschaft raised shares of Coupang from a “hold” rating to a “buy” rating and set a $28.50 price objective for the company in a research note on Wednesday, February 26th. Barclays set a $35.00 price objective on shares of Coupang and gave the stock an “overweight” rating in a research note on Thursday, February 27th. Citigroup lowered their price objective on shares of Coupang from $31.00 to $28.00 and set a “buy” rating for the company in a research note on Wednesday, January 8th. Finally, Mizuho upped their price objective on shares of Coupang from $25.00 to $27.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 26th. One equities research analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $29.17.

Coupang Stock Performance

Shares of NYSE:CPNG traded up $1.15 during trading on Monday, hitting $23.66. 7,457,595 shares of the stock traded hands, compared to its average volume of 8,390,004. The company has a quick ratio of 0.86, a current ratio of 1.13 and a debt-to-equity ratio of 0.28. The company has a market cap of $42.71 billion, a price-to-earnings ratio of 41.51, a P/E/G ratio of 52.20 and a beta of 1.10. The company has a fifty day moving average price of $23.28 and a two-hundred day moving average price of $23.90. Coupang has a 52-week low of $17.34 and a 52-week high of $26.91.

Insider Buying and Selling

In other Coupang news, VP Pranam Kolari sold 8,459 shares of the business’s stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $22.98, for a total transaction of $194,387.82. Following the transaction, the vice president now owns 136,806 shares in the company, valued at $3,143,801.88. The trade was a 5.82 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 13.60% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Coupang

A number of institutional investors have recently added to or reduced their stakes in the stock. Norges Bank acquired a new stake in Coupang during the 4th quarter worth $404,896,000. Price T Rowe Associates Inc. MD boosted its stake in Coupang by 29.2% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 75,686,648 shares of the company’s stock worth $1,663,594,000 after purchasing an additional 17,123,637 shares during the last quarter. FMR LLC boosted its stake in Coupang by 32.0% during the 3rd quarter. FMR LLC now owns 27,153,608 shares of the company’s stock worth $666,621,000 after purchasing an additional 6,584,910 shares during the last quarter. Durable Capital Partners LP boosted its stake in Coupang by 13.6% during the 4th quarter. Durable Capital Partners LP now owns 28,636,287 shares of the company’s stock worth $629,426,000 after purchasing an additional 3,420,133 shares during the last quarter. Finally, Jacobs Levy Equity Management Inc. raised its holdings in shares of Coupang by 106.5% during the 4th quarter. Jacobs Levy Equity Management Inc. now owns 5,778,763 shares of the company’s stock worth $127,017,000 after acquiring an additional 2,979,981 shares during the period. Institutional investors and hedge funds 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.