Coupang, Inc. (NYSE:CPNG – Get Rating) saw a large drop in short interest in the month of November. As of November 15th, there was short interest totalling 27,400,000 shares, a drop of 10.9% from the October 31st total of 30,750,000 shares. Currently, 2.6% of the company’s shares are short sold. Based on an average daily trading volume, of 7,080,000 shares, the days-to-cover ratio is currently 3.9 days.
Wall Street Analysts Forecast Growth
Several analysts recently issued reports on CPNG shares. HSBC started coverage on shares of Coupang in a research report on Friday, October 7th. They issued a “buy” rating and a $27.80 price target for the company. CLSA downgraded shares of Coupang from an “outperform” rating to a “sell” rating and set a $16.40 price target for the company. in a research report on Tuesday, August 16th. Macquarie assumed coverage on shares of Coupang in a report on Tuesday, August 9th. They set an “outperform” rating and a $26.00 price objective on the stock. New Street Research assumed coverage on shares of Coupang in a report on Thursday. They set a “buy” rating and a $25.00 price objective on the stock. Finally, Morgan Stanley lifted their price objective on shares of Coupang from $18.00 to $25.00 and gave the stock an “overweight” rating in a report on Monday, August 15th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $22.61.
Insider Transactions at Coupang
In other news, Director Benjamin Sun sold 11,166 shares of the firm’s stock in a transaction that occurred on Monday, November 28th. The shares were sold at an average price of $20.03, for a total transaction of $223,654.98. Following the completion of the sale, the director now owns 757,146 shares of the company’s stock, valued at approximately $15,165,634.38. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, Director Benjamin Sun sold 11,166 shares of the firm’s stock in a transaction that occurred on Monday, November 28th. The shares were sold at an average price of $20.03, for a total transaction of $223,654.98. Following the completion of the sale, the director now owns 757,146 shares of the company’s stock, valued at approximately $15,165,634.38. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Greenoaks Capital Partners Llc sold 1,250,000 shares of Coupang stock in a transaction on Monday, November 14th. The shares were sold at an average price of $18.14, for a total transaction of $22,675,000.00. Following the completion of the sale, the director now directly owns 71,601,928 shares of the company’s stock, valued at approximately $1,298,858,973.92. The disclosure for this sale can be found here. Insiders sold a total of 1,311,166 shares of company stock valued at $23,856,155 in the last quarter. 16.70% of the stock is currently owned by company insiders.
Institutional Investors Weigh In On Coupang
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Eagle Bay Advisors LLC bought a new stake in Coupang in the 2nd quarter valued at about $26,000. Castleview Partners LLC raised its stake in Coupang by 1,174.6% in the 2nd quarter. Castleview Partners LLC now owns 2,358 shares of the company’s stock valued at $185,000 after acquiring an additional 2,173 shares during the period. Pinebridge Investments L.P. raised its stake in Coupang by 1,125.5% in the 2nd quarter. Pinebridge Investments L.P. now owns 2,451 shares of the company’s stock valued at $31,000 after acquiring an additional 2,251 shares during the period. GPS Wealth Strategies Group LLC raised its stake in Coupang by 38.9% in the 2nd quarter. GPS Wealth Strategies Group LLC now owns 2,500 shares of the company’s stock valued at $32,000 after acquiring an additional 700 shares during the period. Finally, EverSource Wealth Advisors LLC bought a new stake in Coupang in the 3rd quarter valued at about $51,000. 71.59% of the stock is currently owned by institutional investors.
Coupang Stock Performance
Shares of NYSE CPNG traded down $0.26 during mid-day trading on Friday, reaching $19.63. 4,771,901 shares of the company’s stock were exchanged, compared to its average volume of 8,944,344. The firm has a market capitalization of $34.75 billion, a price-to-earnings ratio of -57.73 and a beta of 1.11. Coupang has a 52 week low of $8.98 and a 52 week high of $30.65. The company has a debt-to-equity ratio of 0.78, a current ratio of 1.22 and a quick ratio of 0.87. The firm has a 50-day moving average price of $18.04 and a two-hundred day moving average price of $16.50.
Coupang (NYSE:CPNG – Get Rating) last released its earnings results on Wednesday, November 9th. The company reported $0.05 EPS for the quarter, topping analysts’ consensus estimates of ($0.03) by $0.08. The company had revenue of $5.10 billion for the quarter, compared to analysts’ expectations of $5.15 billion. Coupang had a negative return on equity of 28.35% and a negative net margin of 2.95%. Analysts predict that Coupang will post -0.11 EPS for the current year.
About Coupang
Coupang, Inc owns and operates in e-commerce business through its mobile applications and Internet websites primarily in South Korea. It operates through two segments, Product Commerce and Growth Initiatives. The company 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.