Short Interest in Coupang, Inc. (NYSE:CPNG) Expands By 7.3%

Coupang, Inc. (NYSE:CPNG) was the recipient of a large growth in short interest during the month of December. As of December 31st, there was short interest totalling 14,760,000 shares, a growth of 7.3% from the December 15th total of 13,750,000 shares. Currently, 1.2% of the company’s stock are sold short. Based on an average trading volume of 7,620,000 shares, the days-to-cover ratio is presently 1.9 days.

Insider Buying and Selling at Coupang

In related news, Director Greenoaks Capital Partners Llc purchased 687,700 shares of the business’s stock in a transaction that occurred on Monday, November 11th. The shares were acquired at an average price of $24.08 per share, with a total value of $16,559,816.00. Following the acquisition, the director now owns 52,726,423 shares in the company, valued at approximately $1,269,652,265.84. This trade represents a 1.32 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Bom Kim sold 15,000,000 shares of the company’s stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $22.97, for a total transaction of $344,550,000.00. Following the transaction, the chief executive officer now owns 2,000,000 shares of the company’s stock, valued at $45,940,000. This represents a 88.24 % decrease in their position. The disclosure for this sale can be found here. 13.60% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Coupang

A number of institutional investors have recently added to or reduced their stakes in the stock. Assenagon Asset Management S.A. lifted its position in shares of Coupang by 85.4% during the 4th quarter. Assenagon Asset Management S.A. now owns 1,100,183 shares of the company’s stock worth $24,182,000 after buying an additional 506,622 shares during the period. Handelsbanken Fonder AB increased its holdings in Coupang by 2.9% during the 3rd quarter. Handelsbanken Fonder AB now owns 884,144 shares of the company’s stock valued at $21,706,000 after purchasing an additional 24,553 shares in the last quarter. Charles Schwab Investment Management Inc. raised its position in Coupang by 22.3% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 759,286 shares of the company’s stock valued at $18,640,000 after purchasing an additional 138,416 shares during the last quarter. abrdn plc boosted its stake in Coupang by 40.2% in the third quarter. abrdn plc now owns 202,359 shares of the company’s stock worth $4,968,000 after purchasing an additional 58,060 shares in the last quarter. Finally, Plotkin Financial Advisors LLC bought a new stake in shares of Coupang during the third quarter worth $491,000. 83.72% of the stock is owned by institutional investors and hedge funds.

Coupang Stock Performance

Coupang stock traded down $0.24 during trading hours on Monday, hitting $22.09. The stock had a trading volume of 5,495,026 shares, compared to its average volume of 5,054,672. Coupang has a fifty-two week low of $13.51 and a fifty-two week high of $26.91. The company has a market cap of $39.73 billion, a PE ratio of 38.75, a price-to-earnings-growth ratio of 34.64 and a beta of 1.10. The company has a 50-day moving average of $23.46 and a two-hundred day moving average of $23.31. The company has a quick ratio of 0.86, a current ratio of 1.13 and a debt-to-equity ratio of 0.28.

Coupang (NYSE:CPNG) last announced its quarterly earnings data on Tuesday, November 5th. The company reported $0.06 earnings per share (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 company had revenue of $7.87 billion during the quarter, compared to analysts’ expectations of $7.76 billion. During the same quarter in the prior year, the company posted $0.05 EPS. The business’s revenue was up 27.2% on a year-over-year basis. On average, equities research analysts anticipate that Coupang will post 0.11 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

CPNG has been the topic of several research analyst reports. Sanford C. Bernstein raised shares of Coupang from an “underperform” rating to an “outperform” rating and set a $30.00 target price on the stock in a research note on Monday, October 7th. Citigroup dropped their target price on shares of Coupang from $31.00 to $28.00 and set a “buy” rating on the stock in a research report on Wednesday, January 8th. One analyst has rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price 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.