Coupang, Inc.’s (NYSE: CPNG) short interest sharply decreased in November. As of November 15, there were 27,400,000 shares in hand, a 10.9% decrease from 30,750,000 shares on October 31. 2.6% of the company’s shares are currently being shorted. Based on an average daily trading volume of 7,080,000 shares, the days-to-cover ratio is 3.9 days.
In related news, director Benjamin Sun sold 11,166 company stock on November 28. Shares were exchanged for a total value of $223,654.98 at an average price of $20.03. Following the sale, the director now owns 757,146 shares of the business, which are worth a total of $15,165,634.38 on the open market. You can access the SEC legal filing where the sale was reported by clicking this link. In related news, director Benjamin Sun sold 11,166 company stock on November 28. Shares were exchanged for a total value of $223,654.98 at an average price of $20.03. Following the sale, the director now owns 757,146 shares of the business, which are worth a total of $15,165,634.38 on the open market. You can access the SEC legal filing where the sale was reported by clicking this link. In addition, Greenoaks Capital Partners L.L.C., a director, sold 1,250,000 Coupang stock on November 14. The shares were sold at an average price of $18.14 for a total transaction value of $22,675,000.00. After the transaction is completed, the director will own 71,601,928 shares of the company’s stock, estimated to be worth $1,298,858,973.92. The disclosure for this sale is available here. Insiders sold 1,311,166 shares of company stock for a total of $23,856,155 in the most recent quarter. Company insiders currently own 16.70% of the stock.
Several analysts have recently written reports on the shares of CPNG. HSBC started covering shares of Coupang in a research note on Friday, October 7thd covering shares of Coupang in a research note on Friday, October 7. They assigned the company a “buy” rating and a $27.80 price objective. The CLSA lowered Coupang’s shares from “outperform” to “sell,” setting a $16.40 price objective for the firm. In a research project released on Tuesday, August 16. In a research report published on Tuesday, August 9, Macquarie expanded its coverage of Coupang shares. They rated the company as “outperforming” and set a $26.00 price target. The shares of Coupang were first covered by New Street Research in a research report released on Thursday. They assigned the stock a “buy” rating and a $25.00 price target. In a report issued on August 15, Morgan Stanley raised its “overweight” rating and price objective for the stock from $18.00 to $25.00. One expert in equity research has advised selling the stock, two have advised holding it, and nine have advised purchasing it. According to data from Bloomberg.com, the stock currently has an average “Moderate buy” rating and a consensus price target of $22.61.
Institutional investors, including hedge funds, recently changed the percentage of the company they own. Eagle Bay Advisors LLC spent $26,000 for a new position in Coupang during the second quarter. Castleview Partners LLC grew its stake in Coupang by 1,174.6% during the second quarter. Castleview Partners LLC now owns 2,358 shares, valued at $185,000, for a total of $185,000. During that period, it also acquired an additional 2,173 shares, for a total of 2,173. Pinebridge Investments L.P. boosted its ownership of Coupang by 1,125.5% during the second 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. GPS Wealth Strategies Group LLC grew its stake in Coupang by 38.9% during the second 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. Finally, EverSource Wealth Advisors LLC added a new position in Coupang during the third quarter for about $51,000. Institutions presently hold 71.59% of the stock.
At noon on Friday, NYSE CPNG shares were down $0.26 to $19.63.Compared to the 8,944,344 average daily volume for the company’s stock, 4,771,901 shares were traded. The business has a market value of $34.75 billion, a P/E ratio of -57.73, and a beta of 1.11. In the previous 52 weeks, Coupang’s high and low marks were $30.65 and $8.98, respectively. The company’s debt-to-equity ratio is 0.78, its current ratio is 1.22, and its quick ratio is 0.87. The 50-day and 200-day moving averages of the company’s stock are $18.04 and $16.50, respectively.
On November 9, Coupang (NYSE: CPNG) released its most recent results report. By $0.08, the company generated earnings of $0.05 per share for the quarter, exceeding the analysts’ consensus estimate of $0.03 by $0.03. The company’s sales for the quarter came in at $5.10 billion, falling short of analysts’ projections of $5.15 billion. Coupang reported a 2.95% negative net margin and a negative return on equity of 28.35%. Analysts predict that Coupang will post -0.11 EPS for the current year.
