Short Interest in Coupang, Inc. (NYSE:CPNG) Expands By 18.4%

Coupang, Inc. (NYSE:CPNGGet Free Report) saw a significant growth in short interest during the month of February. As of February 29th, there was short interest totalling 23,850,000 shares, a growth of 18.4% from the February 14th total of 20,140,000 shares. Approximately 2.1% of the company’s stock are short sold. Based on an average daily trading volume, of 10,800,000 shares, the short-interest ratio is presently 2.2 days.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the stock. Deutsche Bank Aktiengesellschaft upgraded shares of Coupang from a “hold” rating to a “buy” rating and raised their price target for the stock from $18.50 to $21.00 in a research note on Thursday, February 29th. Barclays boosted their price objective on shares of Coupang from $24.00 to $25.00 and gave the stock an “overweight” rating in a research note on Thursday, February 29th. UBS Group downgraded shares of Coupang from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $26.00 to $18.50 in a research note on Wednesday, December 20th. TheStreet raised shares of Coupang from a “d+” rating to a “c-” rating in a report on Tuesday, March 5th. Finally, Citigroup cut shares of Coupang from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $20.00 to $17.00 in a research note on Tuesday, January 16th. Two analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $21.07.

Read Our Latest Stock Report on Coupang

Insiders Place Their Bets

In other Coupang news, insider Pranam Kolari sold 2,356 shares of the company’s stock in a transaction on Friday, February 2nd. The stock was sold at an average price of $13.88, for a total transaction of $32,701.28. Following the transaction, the insider now owns 182,844 shares of the company’s stock, valued at approximately $2,537,874.72. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In related news, major shareholder Svf Investments (Uk) Ltd sold 31,614,154 shares of the stock in a transaction on Tuesday, March 12th. The stock was sold at an average price of $19.01, for a total value of $600,985,067.54. Following the completion of the sale, the insider now directly owns 364,542,259 shares in the company, valued at $6,929,948,343.59. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Pranam Kolari sold 2,356 shares of the company’s stock in a transaction on Friday, February 2nd. The shares were sold at an average price of $13.88, for a total transaction of $32,701.28. Following the sale, the insider now directly owns 182,844 shares in the company, valued at approximately $2,537,874.72. The disclosure for this sale can be found here. Insiders sold 31,621,860 shares of company stock valued at $601,103,369 over the last quarter. Insiders own 14.90% of the company’s stock.

Institutional Investors Weigh In On Coupang

Several institutional investors and hedge funds have recently added to or reduced their stakes in CPNG. Vanguard Group Inc. lifted its position in shares of Coupang by 4.0% during the fourth quarter. Vanguard Group Inc. now owns 4,481,965 shares of the company’s stock worth $72,563,000 after purchasing an additional 172,761 shares in the last quarter. Mubadala Investment Co PJSC acquired a new position in shares of Coupang in the 4th quarter valued at $23,129,000. Goldman Sachs Group Inc. grew its position in Coupang by 55.9% in the 4th quarter. Goldman Sachs Group Inc. now owns 824,082 shares of the company’s stock valued at $13,342,000 after buying an additional 295,534 shares during the last quarter. Aragon Global Management LP purchased a new stake in shares of Coupang during the 4th quarter worth $385,000. Finally, Twenty Acre Capital LP boosted its position in shares of Coupang by 23.5% in the 4th quarter. Twenty Acre Capital LP now owns 505,914 shares of the company’s stock worth $8,191,000 after buying an additional 96,300 shares in the last quarter. Hedge funds and other institutional investors own 72.02% of the company’s stock.

Coupang Stock Down 2.1 %

CPNG stock opened at $18.13 on Monday. The firm has a 50 day moving average of $16.14 and a 200 day moving average of $16.59. The stock has a market capitalization of $32.51 billion, a PE ratio of 24.17 and a beta of 1.33. The company has a quick ratio of 0.90, a current ratio of 1.14 and a debt-to-equity ratio of 0.13. Coupang has a 52 week low of $12.80 and a 52 week high of $19.99.

Coupang (NYSE:CPNGGet Free Report) last released its earnings results on Tuesday, February 27th. The company reported $0.08 EPS for the quarter, topping analysts’ consensus estimates of $0.05 by $0.03. The company had revenue of $6.56 billion during the quarter, compared to analysts’ expectations of $6.40 billion. Coupang had a net margin of 5.57% and a return on equity of 15.04%. Coupang’s revenue for the quarter was up 23.2% on a year-over-year basis. During the same period last year, the business earned $0.06 EPS. Sell-side analysts forecast that Coupang will post 0.34 earnings per share for the current year.

About Coupang

(Get Free Report)

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.

Further Reading

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