Stock Traders Buy High Volume of Coupang Call Options (NYSE:CPNG)

Coupang, Inc. (NYSE:CPNG) was the target of some unusual options trading on Tuesday. Stock investors bought 31,373 call options on the company. This is an increase of approximately 56% compared to the average volume of 20,146 call options.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the stock. Bank of America initiated coverage on shares of Coupang in a report on Friday, May 3rd. They set a “buy” rating and a $30.00 price objective for the company. Deutsche Bank Aktiengesellschaft raised Coupang from a “hold” rating to a “buy” rating and lifted their price objective for the company from $18.50 to $21.00 in a report on Thursday, February 29th. Barclays increased their target price on Coupang from $24.00 to $25.00 and gave the stock an “overweight” rating in a report on Thursday, February 29th. Mizuho boosted their price target on Coupang from $20.00 to $23.00 and gave the company a “neutral” rating in a research note on Wednesday. Finally, TheStreet upgraded Coupang from a “d+” rating to a “c-” rating in a research note on Tuesday, March 5th. Two equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Coupang has an average rating of “Moderate Buy” and a consensus target price of $24.25.

Insider Activity

In related news, Director Neil Mehta sold 1,600,000 shares of the business’s stock in a transaction that occurred on Thursday, March 14th. The stock was sold at an average price of $18.68, for a total value of $29,888,000.00. Following the completion of the sale, the director now directly owns 48,006,135 shares in the company, valued at approximately $896,754,601.80. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other Coupang news, insider Pranam Kolari sold 2,048 shares of the firm’s stock in a transaction that occurred on Thursday, May 2nd. The stock was sold at an average price of $22.34, for a total value of $45,752.32. Following the completion of the sale, the insider now owns 187,951 shares in the company, valued at approximately $4,198,825.34. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Neil Mehta sold 1,600,000 shares of the business’s stock in a transaction that occurred on Thursday, March 14th. The shares were sold at an average price of $18.68, for a total value of $29,888,000.00. Following the sale, the director now owns 48,006,135 shares in the company, valued at $896,754,601.80. The disclosure for this sale can be found here. In the last quarter, insiders have sold 33,355,282 shares of company stock valued at $633,457,030. Insiders own 14.90% of the company’s stock.

Hedge Funds Weigh In On Coupang

Institutional investors have recently modified their holdings of the stock. WCM Investment Management LLC boosted its holdings in Coupang by 2,250.9% in the first quarter. WCM Investment Management LLC now owns 44,926,485 shares of the company’s stock valued at $799,242,000 after acquiring an additional 43,015,433 shares during the last quarter. Baillie Gifford & Co. lifted its position in Coupang by 21.6% during the 4th quarter. Baillie Gifford & Co. now owns 145,524,128 shares of the company’s stock valued at $2,356,036,000 after purchasing an additional 25,843,034 shares during the period. Norges Bank bought a new position in shares of Coupang in the 4th quarter valued at about $250,714,000. Pacer Advisors Inc. grew its position in shares of Coupang by 104,032.2% during the 4th quarter. Pacer Advisors Inc. now owns 10,944,299 shares of the company’s stock worth $177,188,000 after buying an additional 10,933,789 shares during the period. Finally, Assenagon Asset Management S.A. raised its stake in shares of Coupang by 217.1% during the first quarter. Assenagon Asset Management S.A. now owns 2,909,546 shares of the company’s stock worth $51,761,000 after buying an additional 1,992,092 shares during the last quarter. 83.72% of the stock is owned by institutional investors.

Coupang Trading Down 9.2 %

CPNG stock opened at $21.47 on Thursday. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.14 and a quick ratio of 0.90. The stock has a market capitalization of $38.50 billion, a price-to-earnings ratio of 28.71, a P/E/G ratio of 19.21 and a beta of 1.13. The business has a fifty day moving average price of $19.91 and a 200 day moving average price of $17.24. Coupang has a fifty-two week low of $13.51 and a fifty-two week high of $23.77.

Coupang (NYSE:CPNG) last released its quarterly earnings results on Tuesday, May 7th. The company reported $0.05 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.01). The business had revenue of $7.11 billion during the quarter, compared to the consensus estimate of $6.95 billion. Coupang had a net margin of 5.57% and a return on equity of 15.04%. The business’s quarterly revenue was up 22.6% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.05 earnings per share. Analysts expect that Coupang will post 0.35 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.