Short Interest in Coupang, Inc. (NYSE:CPNG) Grows By 58.8%

Coupang, Inc. (NYSE:CPNG) was the recipient of a large increase in short interest in the month of September. As of September 30th, there was short interest totaling 27,100,000 shares, an increase of 58.8% from the September 15th total of 17,070,000 shares. Currently, 2.1% of the shares of the company are short sold. Based on an average daily volume of 12,120,000 shares, the days-to-cover ratio is currently 2.2 days. Based on an average daily volume of 12,120,000 shares, the days-to-cover ratio is currently 2.2 days. Currently, 2.1% of the shares of the company are short sold.

Insider Activity

In other news, VP Pranam Kolari sold 11,653 shares of Coupang stock in a transaction dated Monday, August 4th. The shares were sold at an average price of $29.14, for a total value of $339,568.42. Following the sale, the vice president owned 158,676 shares of the company’s stock, valued at $4,623,818.64. The trade was a 6.84% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Harold Rogers sold 64,755 shares of the business’s stock in a transaction dated Thursday, September 11th. The stock was sold at an average price of $32.06, for a total transaction of $2,076,045.30. Following the transaction, the insider owned 449,569 shares in the company, valued at approximately $14,413,182.14. This trade represents a 12.59% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 988,983 shares of company stock worth $31,203,966 over the last ninety days. 12.78% of the stock is owned by corporate insiders.

Institutional Trading of Coupang

Institutional investors and hedge funds have recently made changes to their positions in the company. Davidson Kahn Capital Management LLC raised its stake in shares of Coupang by 31.6% in the 1st quarter. Davidson Kahn Capital Management LLC now owns 103,567 shares of the company’s stock valued at $2,271,000 after acquiring an additional 24,877 shares during the period. Altimeter Capital Management LP lifted its stake in shares of Coupang by 24.3% during the first quarter. Altimeter Capital Management LP now owns 7,441,445 shares of the company’s stock worth $163,191,000 after purchasing an additional 1,455,555 shares in the last quarter. Allspring Global Investments Holdings LLC raised its holdings in shares of Coupang by 40.1% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 305,512 shares of the company’s stock valued at $6,776,000 after buying an additional 87,412 shares during the period. Vontobel Holding Ltd. acquired a new position in Coupang during the 1st quarter worth approximately $241,000. Finally, Bain Capital Public Equity Management II LLC lifted its position in Coupang by 39.4% during the 1st quarter. Bain Capital Public Equity Management II LLC now owns 1,467,232 shares of the company’s stock worth $32,176,000 after acquiring an additional 414,901 shares in the last quarter. 83.72% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on the company. Nomura Securities upgraded Coupang to a “strong-buy” rating in a research report on Wednesday, August 6th. Weiss Ratings reiterated a “hold (c)” rating on shares of Coupang in a research report on Wednesday, October 8th. Nomura upgraded shares of Coupang from a “neutral” rating to a “buy” rating and set a $35.00 price target for the company in a report on Wednesday, August 6th. Zacks Research downgraded shares of Coupang from a “hold” rating to a “strong sell” rating in a report on Monday, October 6th. Finally, Arete Research began coverage on Coupang in a research note on Thursday, September 18th. They set a “buy” rating and a $40.00 price target on the stock. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $33.50.

Coupang Stock Down 0.0%

CPNG opened at $31.12 on Friday. The business’s fifty day simple moving average is $31.04 and its 200 day simple moving average is $28.53. Coupang has a 52 week low of $19.02 and a 52 week high of $34.08. The firm has a market cap of $56.72 billion, a P/E ratio of 155.58 and a beta of 1.18. The company has a quick ratio of 0.84, a current ratio of 1.09 and a debt-to-equity ratio of 0.18.

Coupang (NYSE:CPNG) last released its quarterly earnings results on Tuesday, August 5th. The company reported $0.02 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.07 by ($0.05). The firm had revenue of $8.52 billion for the quarter, compared to analyst estimates of $8.34 billion. Coupang had a return on equity of 7.47% and a net margin of 1.13%.Coupang’s revenue for the quarter was up 16.4% on a year-over-year basis. During the same period in the prior year, the business earned $0.07 earnings per share. As a group, equities research analysts anticipate that Coupang will post 0.17 EPS for the current fiscal year.

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.