Coupang Sees Unusually Large Options Volume (NYSE:CPNG)

Coupang, Inc. (NYSE:CPNG) saw some unusual options trading on Thursday. Traders purchased 57,353 put options on the stock. This is an increase of approximately 95% compared to the average volume of 29,393 put options.

Coupang Trading Up 2.7%

NYSE CPNG opened at $15.06 on Friday. The company has a current ratio of 0.87, a quick ratio of 0.68 and a debt-to-equity ratio of 0.21. Coupang has a 1-year low of $14.45 and a 1-year high of $34.08. The firm’s fifty day simple moving average is $16.38 and its 200-day simple moving average is $17.62. The company has a market capitalization of $27.08 billion, a PE ratio of -35.03 and a beta of 1.15.

Coupang (NYSE:CPNG) last posted its earnings results on Tuesday, August 4th. The company reported ($0.09) earnings per share for the quarter, beating the consensus estimate of ($0.27) by $0.18. Coupang had a negative return on equity of 8.77% and a negative net margin of 2.16%.The company had revenue of $8.86 billion for the quarter, compared to analyst estimates of $8.92 billion. During the same period last year, the company earned $0.02 earnings per share. The business’s revenue was up 3.9% compared to the same quarter last year. As a group, sell-side analysts anticipate that Coupang will post -0.46 earnings per share for the current fiscal year.

Insider Buying and Selling at Coupang

In other news, insider Harold Rogers sold 192,110 shares of the stock in a transaction on Monday, August 10th. The stock was sold at an average price of $16.18, for a total transaction of $3,108,339.80. Following the completion of the sale, the insider owned 740,931 shares in the company, valued at approximately $11,988,263.58. This represents a 20.59% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Jonathan D. Lee sold 5,519 shares of the firm’s stock in a transaction on Monday, August 10th. The stock was sold at an average price of $16.10, for a total value of $88,855.90. Following the sale, the chief accounting officer directly owned 181,915 shares of the company’s stock, valued at approximately $2,928,831.50. This represents a 2.94% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 12.83% of the stock is currently owned by corporate insiders.

Institutional Trading of Coupang

A number of institutional investors and hedge funds have recently modified their holdings of CPNG. EverSource Wealth Advisors LLC raised its holdings in Coupang by 72.6% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 3,316 shares of the company’s stock worth $99,000 after acquiring an additional 1,395 shares during the period. Baird Financial Group Inc. boosted its holdings in Coupang by 52.8% during the second quarter. Baird Financial Group Inc. now owns 23,471 shares of the company’s stock valued at $703,000 after acquiring an additional 8,107 shares during the period. Cerity Partners LLC grew its position in shares of Coupang by 48.1% in the second quarter. Cerity Partners LLC now owns 45,252 shares of the company’s stock valued at $1,356,000 after purchasing an additional 14,703 shares during the last quarter. State Street Corp grew its position in shares of Coupang by 8.4% in the second quarter. State Street Corp now owns 15,641,775 shares of the company’s stock valued at $468,628,000 after purchasing an additional 1,210,801 shares during the last quarter. Finally, AXA S.A. bought a new position in shares of Coupang in the second quarter worth about $411,000. 83.72% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts have issued reports on CPNG shares. The Goldman Sachs Group set a $31.00 price objective on Coupang in a report on Thursday, July 9th. CLSA initiated coverage on shares of Coupang in a research report on Monday, June 15th. They issued an “outperform” rating and a $24.00 target price on the stock. Barclays restated an “overweight” rating and set a $29.00 price target on shares of Coupang in a report on Tuesday, July 7th. Mizuho set a $22.00 price target on shares of Coupang in a research report on Wednesday, August 5th. Finally, Weiss Ratings reaffirmed a “sell (d)” rating on shares of Coupang in a research note on Tuesday, August 4th. Six research analysts have rated the stock with a Buy rating, four have issued a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $25.39.

About Coupang

Coupang, Inc (NYSE: CPNG) is an e-commerce and technology company founded in South Korea in 2010. The company operates an online marketplace offering consumer goods across categories such as electronics, household products, apparel, beauty products and groceries.

Its services include Rocket Delivery, a logistics and fulfillment network designed to provide fast delivery; Rocket Fresh, its grocery delivery service; and Coupang Eats, a food-ordering and delivery platform. Coupang also operates Coupang Play, a subscription-based streaming service, and Coupang Pay, a digital payments service.

Coupang serves customers primarily in South Korea and Taiwan.