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

Coupang, Inc. (NYSE:CPNG) was the target of unusually large options trading on Wednesday. Investors purchased 22,485 call options on the stock. This represents an increase of 64% compared to the average daily volume of 13,746 call options.

Coupang Stock Performance

Shares of CPNG stock traded down $3.81 during midday trading on Wednesday, hitting $23.08. 9,019,759 shares of the company were exchanged, compared to its average volume of 9,611,492. Coupang has a 52 week low of $13.51 and a 52 week high of $26.91. The firm has a market capitalization of $41.40 billion, a P/E ratio of 39.97 and a beta of 1.10. The firm’s 50 day moving average price is $24.45 and its two-hundred day moving average price is $22.75. The company has a debt-to-equity ratio of 0.72, a quick ratio of 0.87 and a current ratio of 1.12.

Coupang (NYSE:CPNG) last issued its quarterly earnings data 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 return on equity of 12.04% and a net margin of 3.87%. The firm had revenue of $7.87 billion for the quarter, compared to analyst estimates of $7.76 billion. During the same period in the prior 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 research analysts anticipate that Coupang will post -0.03 earnings per share for the current year.

Insider Activity at Coupang

In other news, Director Greenoaks Capital Partners Llc acquired 251,300 shares of the company’s stock in a transaction that occurred on Tuesday, August 13th. The shares were purchased at an average price of $22.58 per share, for a total transaction of $5,674,354.00. Following the completion of the acquisition, the director now owns 50,126,224 shares of the company’s stock, valued at approximately $1,131,850,137.92. This represents a 0.00 % increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, Director Greenoaks Capital Partners Llc bought 251,300 shares of the firm’s stock in a transaction on Tuesday, August 13th. The stock was purchased at an average price of $22.58 per share, with a total value of $5,674,354.00. Following the completion of the transaction, the director now directly owns 50,126,224 shares of the company’s stock, valued at $1,131,850,137.92. This trade represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Benjamin Sun sold 200,000 shares of the company’s stock in a transaction on Monday, August 19th. The stock was sold at an average price of $23.36, for a total transaction of $4,672,000.00. Following the sale, the director now directly owns 1,969,421 shares of the company’s stock, valued at approximately $46,005,674.56. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders bought 601,300 shares of company stock valued at $13,604,354 and sold 400,956 shares valued at $9,245,164. Insiders own 13.60% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Baillie Gifford & Co. lifted its holdings in shares of Coupang by 1.6% during the second quarter. Baillie Gifford & Co. now owns 171,350,025 shares of the company’s stock worth $3,589,783,000 after purchasing an additional 2,749,027 shares during the period. Price T Rowe Associates Inc. MD boosted its stake in shares of Coupang by 31.5% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 78,865,294 shares of the company’s stock valued at $1,403,015,000 after purchasing an additional 18,894,909 shares during the last quarter. Kontiki Capital Management HK Ltd. increased its position in shares of Coupang by 1.9% during the first quarter. Kontiki Capital Management HK Ltd. now owns 8,693,468 shares of the company’s stock worth $154,657,000 after buying an additional 159,900 shares during the period. Bamco Inc. NY raised its stake in Coupang by 9.6% during the first quarter. Bamco Inc. NY now owns 7,942,062 shares of the company’s stock worth $141,289,000 after buying an additional 693,898 shares during the last quarter. Finally, Dorsal Capital Management LP lifted its holdings in Coupang by 26.3% in the second quarter. Dorsal Capital Management LP now owns 6,000,000 shares of the company’s stock valued at $125,700,000 after buying an additional 1,250,000 shares during the period. Institutional investors and hedge funds own 83.72% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have commented on the company. Sanford C. Bernstein raised 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. CLSA raised shares of Coupang from a “hold” rating to an “outperform” rating and boosted their price target for the company from $18.00 to $31.00 in a report on Wednesday, September 4th. One research analyst has rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $27.56.

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.