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

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

Insider Activity at Coupang

In related news, 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 $14,413,182.14. The trade was a 12.59% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Benjamin Sun sold 815,797 shares of the stock in a transaction that occurred on Tuesday, September 9th. The stock was sold at an average price of $31.88, for a total value of $26,007,608.36. Following the completion of the sale, the director owned 503,624 shares of the company’s stock, valued at approximately $16,055,533.12. This trade represents a 61.83% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 988,983 shares of company stock worth $31,203,966 over the last ninety days. Insiders own 12.78% of the company’s stock.

Institutional Trading of Coupang

A number of large investors have recently made changes to their positions in CPNG. Sequoia Financial Advisors LLC raised its stake in Coupang by 0.5% during the 2nd quarter. Sequoia Financial Advisors LLC now owns 68,468 shares of the company’s stock valued at $2,051,000 after buying an additional 363 shares during the last quarter. Inspirion Wealth Advisors LLC increased its position in Coupang by 0.3% during the second quarter. Inspirion Wealth Advisors LLC now owns 134,314 shares of the company’s stock valued at $4,024,000 after acquiring an additional 400 shares during the last quarter. Thoroughbred Financial Services LLC increased its position in Coupang by 1.4% during the first quarter. Thoroughbred Financial Services LLC now owns 29,486 shares of the company’s stock valued at $646,000 after acquiring an additional 408 shares during the last quarter. Merit Financial Group LLC lifted its holdings in Coupang by 2.7% in the third quarter. Merit Financial Group LLC now owns 15,862 shares of the company’s stock valued at $511,000 after acquiring an additional 418 shares during the period. Finally, GAMMA Investing LLC boosted its position in Coupang by 12.7% in the third quarter. GAMMA Investing LLC now owns 3,961 shares of the company’s stock worth $128,000 after purchasing an additional 445 shares during the last quarter. 83.72% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

CPNG has been the topic of several recent analyst reports. Arete Research initiated coverage on shares of Coupang in a report on Thursday, September 18th. They issued a “buy” rating and a $40.00 price target on the stock. Nomura Securities raised shares of Coupang to a “strong-buy” rating in a research note on Wednesday, August 6th. Deutsche Bank Aktiengesellschaft cut shares of Coupang from a “buy” rating to a “hold” rating and set a $27.00 price target on the stock. in a research report on Wednesday, August 6th. Zacks Research lowered shares of Coupang from a “hold” rating to a “strong sell” rating in a report on Monday, October 6th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Coupang in a report on Wednesday, October 8th. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $33.50.

Coupang Price Performance

Shares of NYSE:CPNG opened at $31.12 on Friday. The company has a market capitalization of $56.72 billion, a PE ratio of 155.58 and a beta of 1.18. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.09 and a quick ratio of 0.84. Coupang has a 1-year low of $19.02 and a 1-year high of $34.08. The business has a fifty day moving average price of $31.04 and a 200-day moving average price of $28.53.

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

Coupang Company Profile

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.