Short Interest in Coupang, Inc. (NYSE:CPNG) Decreases 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. Currently, 1.3% of the shares of the company are short sold. Based on an average daily volume of 7,790,000 shares, the short-interest ratio is currently 1.9 days.

Insider Transactions at Coupang

In related news, CEO Bom Kim sold 15,000,000 shares of the stock in a transaction that occurred on 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 sale, the chief executive officer now directly owns 2,000,000 shares in the company, valued at $45,940,000. This trade represents a 88.24 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Greenoaks Capital Partners Llc acquired 687,700 shares of the company’s stock in a transaction that occurred on Monday, November 11th. The shares were bought at an average price of $24.08 per share, for a total transaction of $16,559,816.00. Following the completion of the acquisition, the director now owns 52,726,423 shares of the company’s stock, valued at $1,269,652,265.84. This trade represents a 1.32 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 13.60% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Coupang

Several institutional investors and hedge funds have recently modified their holdings of CPNG. Lord Abbett & CO. LLC grew its stake in shares of Coupang by 269.3% in the 3rd quarter. Lord Abbett & CO. LLC now owns 1,292,886 shares of the company’s stock valued at $31,740,000 after buying an additional 942,839 shares during the period. Tidal Investments LLC acquired a new stake in Coupang in the third quarter valued at approximately $5,646,000. Wilmington Savings Fund Society FSB purchased a new position in Coupang in the third quarter valued at $1,094,000. Advisory Resource Group raised its position in shares of Coupang by 1.9% during 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. raised its stake in Coupang by 10.1% during the 3rd quarter. Coldstream Capital Management Inc. now owns 15,517 shares of the company’s stock worth $382,000 after acquiring an additional 1,427 shares in the last quarter. Institutional investors and hedge funds own 83.72% of the company’s stock.

Coupang Trading Down 1.8 %

Shares of CPNG stock traded down $0.43 during trading hours on Friday, reaching $23.89. 6,092,863 shares of the stock were exchanged, compared to its average volume of 9,658,216. The company’s 50-day moving average price is $24.97 and its 200-day moving average price is $23.15. Coupang has a 12-month low of $13.51 and a 12-month high of $26.91. 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 firm has a market capitalization of $42.97 billion, a price-to-earnings ratio of 41.91, a price-to-earnings-growth ratio of 215.03 and a beta of 1.07.

Coupang (NYSE:CPNG) last posted its earnings results on Tuesday, November 5th. The company reported $0.06 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 the consensus estimate of $7.76 billion. During the same quarter last year, the firm posted $0.05 EPS. The company’s revenue for the quarter was up 27.2% on a year-over-year basis. As a group, equities analysts anticipate that Coupang will post 0.11 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the stock. CLSA raised shares of Coupang from a “hold” rating to an “outperform” rating and upped their price target for the stock from $18.00 to $31.00 in a report on Wednesday, September 4th. Sanford C. Bernstein upgraded 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 equities research analyst has rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat, Coupang presently has a consensus rating of “Moderate Buy” and a consensus price target of $27.56.

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.