Coupang, Inc. (NYSE:CPNG) Short Interest Down 8.7% in July

Coupang, Inc. (NYSE:CPNG) was the target of a large decrease in short interest during the month of July. As of July 15th, there was short interest totalling 23,510,000 shares, a decrease of 8.7% from the June 30th total of 25,760,000 shares. Based on an average trading volume of 8,370,000 shares, the days-to-cover ratio is presently 2.8 days. Approximately 2.0% of the shares of the stock are sold short.

Insiders Place Their Bets

In other Coupang news, Director Benjamin Sun sold 700,000 shares of the company’s stock in a transaction that occurred on Monday, June 17th. The stock was sold at an average price of $20.63, for a total transaction of $14,441,000.00. Following the transaction, the director now owns 2,169,421 shares in the company, valued at approximately $44,755,155.23. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, insider Pranam Kolari sold 6,490 shares of Coupang stock in a transaction dated Monday, May 20th. The shares were sold at an average price of $22.93, for a total transaction of $148,815.70. Following the completion of the transaction, the insider now directly owns 181,461 shares of the company’s stock, valued at approximately $4,160,900.73. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Benjamin Sun sold 700,000 shares of the company’s stock in a transaction dated Monday, June 17th. The stock was sold at an average price of $20.63, for a total transaction of $14,441,000.00. Following the completion of the sale, the director now owns 2,169,421 shares in the company, valued at approximately $44,755,155.23. The disclosure for this sale can be found here. Insiders have sold 751,490 shares of company stock worth $15,617,066 in the last ninety days. 13.60% of the stock is currently owned by insiders.

Institutional Trading of Coupang

Several large investors have recently added to or reduced their stakes in CPNG. Global Retirement Partners LLC boosted its stake in shares of Coupang by 135.8% during the 1st quarter. Global Retirement Partners LLC now owns 1,436 shares of the company’s stock worth $26,000 after acquiring an additional 827 shares during the last quarter. GAMMA Investing LLC grew its holdings in Coupang by 308.2% during the second quarter. GAMMA Investing LLC now owns 1,947 shares of the company’s stock valued at $41,000 after purchasing an additional 1,470 shares during the period. Register Financial Advisors LLC purchased a new stake in Coupang in the first quarter worth about $50,000. Opal Wealth Advisors LLC bought a new position in shares of Coupang in the second quarter worth about $74,000. Finally, V Square Quantitative Management LLC purchased a new position in shares of Coupang during the 2nd quarter valued at about $89,000. 83.72% of the stock is currently owned by institutional investors.

Coupang Stock Performance

Shares of NYSE CPNG traded down $0.13 during midday trading on Thursday, hitting $20.62. 6,123,253 shares of the stock traded hands, compared to its average volume of 10,882,200. The company has a debt-to-equity ratio of 0.67, a quick ratio of 0.89 and a current ratio of 1.15. Coupang has a one year low of $13.51 and a one year high of $23.77. The firm has a market capitalization of $36.87 billion, a P/E ratio of 29.64, a PEG ratio of 2,012.87 and a beta of 1.09. The firm has a 50-day moving average of $21.35 and a two-hundred day moving average of $19.53.

Coupang (NYSE:CPNG) last posted its earnings results on Tuesday, May 7th. The company reported $0.05 earnings per share for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.01). Coupang had a net margin of 4.96% and a return on equity of 13.59%. The firm had revenue of $7.11 billion during the quarter, compared to the consensus estimate of $6.95 billion. During the same period in the prior year, the company posted $0.05 EPS. The firm’s revenue was up 22.6% compared to the same quarter last year. On average, equities analysts forecast that Coupang will post 0.01 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on CPNG shares. Barclays boosted their target price on Coupang from $25.00 to $32.00 and gave the stock an “overweight” rating in a report on Thursday, May 9th. Citigroup lifted their target price on shares of Coupang from $26.00 to $28.00 and gave the stock a “buy” rating in a report on Wednesday, May 8th. Morgan Stanley raised their price target on shares of Coupang from $26.00 to $27.00 and gave the company an “overweight” rating in a research report on Wednesday, June 26th. Mizuho upped their price objective on Coupang from $20.00 to $23.00 and gave the company a “neutral” rating in a research report on Wednesday, May 8th. Finally, Bank of America assumed coverage on Coupang in a report on Friday, May 3rd. They issued a “buy” rating and a $30.00 target price for the company. One investment analyst has rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, Coupang presently has a consensus rating of “Moderate Buy” and a consensus price target of $26.71.

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.