Equity Management

Coupang, Inc. (NYSE:CPNG) Short Interest Down 13.5% in December

Coupang, Inc. (NYSE:CPNG - Get Rating) saw a significant drop in short interest in the month of December. As of December 15th, there was short interest totalling 29,210,000 shares, a drop of 13.5%…

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Feb 3, 2023 • 5 min read

Coupang, Inc. (NYSE:CPNG - Get Rating) was the target of a significant decrease in short interest in the month of December. As of December 15th, there was short interest totalling 29,210,000 shares, a decrease of 13.5% from the November 30th total of 33,770,000 shares. Currently, 2.8% of the shares of the stock are short sold. Based on an average daily volume of 7,980,000 shares, the days-to-cover ratio is currently 3.7 days.

Coupang Stock Performance

CPNG stock traded up $0.05 during mid-day trading on Monday, reaching $14.71. 463,764 shares of the stock traded hands, compared to its average volume of 9,481,004. The company has a current ratio of 1.22, a quick ratio of 0.87 and a debt-to-equity ratio of 0.78. Coupang has a one year low of $8.98 and a one year high of $30.23. The business has a 50-day moving average price of $17.53 and a two-hundred day moving average price of $17.05.

Coupang (NYSE:CPNG - Get Rating) last posted its quarterly earnings data on Wednesday, November 9th. The company reported $0.05 earnings per share for the quarter, beating analysts' consensus estimates of ($0.03) by $0.08. Coupang had a negative net margin of 2.95% and a negative return on equity of 28.35%. The business had revenue of $5.10 billion for the quarter, compared to analysts' expectations of $5.15 billion. As a group, analysts forecast that Coupang will post -0.07 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Coupang news, Director Greenoaks Capital Partners Llc sold 200,000 shares of the company's stock in a transaction that occurred on Thursday, December 8th. The shares were sold at an average price of $18.26, for a total value of $3,652,000.00. Following the completion of the transaction, the director now directly owns 70,651,928 shares in the company, valued at $1,290,104,205.28. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other Coupang news, Director Greenoaks Capital Partners Llc sold 200,000 shares of the company's stock in a transaction that occurred on Thursday, December 8th. The shares were sold at an average price of $18.26, for a total value of $3,652,000.00. Following the completion of the transaction, the director now directly owns 70,651,928 shares in the company, valued at $1,290,104,205.28. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, major shareholder Svf Investments (Uk) Ltd sold 35,000,000 shares of the company's stock in a transaction that occurred on Monday, December 5th. The stock was sold at an average price of $18.50, for a total transaction of $647,500,000.00. Following the completion of the transaction, the insider now owns 426,156,413 shares of the company's stock, valued at $7,883,893,640.50. The disclosure for this sale can be found here. Insiders sold a total of 36,800,000 shares of company stock worth $680,784,835 over the last three months. 16.70% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the company. Massachusetts Institute of Technology grew its holdings in shares of Coupang by 48.3% in the first quarter. Massachusetts Institute of Technology now owns 24,014,645 shares of the company's stock worth $424,579,000 after purchasing an additional 7,816,529 shares during the last quarter. Price T Rowe Associates Inc. MD grew its holdings in shares of Coupang by 14.1% in the second quarter. Price T Rowe Associates Inc. MD now owns 47,947,638 shares of the company's stock worth $611,332,000 after purchasing an additional 5,919,724 shares during the last quarter. Durable Capital Partners LP grew its holdings in shares of Coupang by 111.9% in the third quarter. Durable Capital Partners LP now owns 5,824,375 shares of the company's stock worth $97,092,000 after purchasing an additional 3,075,623 shares during the last quarter. Coronation Fund Managers Ltd. grew its holdings in shares of Coupang by 86.0% in the second quarter. Coronation Fund Managers Ltd. now owns 5,593,272 shares of the company's stock worth $71,314,000 after purchasing an additional 2,586,039 shares during the last quarter. Finally, Scge Management L.P. grew its holdings in shares of Coupang by 79.5% in the second quarter. Scge Management L.P. now owns 3,846,000 shares of the company's stock worth $49,037,000 after purchasing an additional 1,703,143 shares during the last quarter. Institutional investors own 71.56% of the company's stock.

Analyst Ratings Changes

Several equities analysts have recently commented on CPNG shares. Mizuho lowered their target price on shares of Coupang from $22.00 to $20.00 and set a "neutral" rating on the stock in a report on Thursday, November 10th. HSBC assumed coverage on shares of Coupang in a report on Friday, October 7th. They issued a "buy" rating and a $27.80 target price on the stock. Finally, New Street Research assumed coverage on shares of Coupang in a research note on Thursday, December 1st. They set a "buy" rating and a $25.00 price target on the stock. One investment analyst has rated the stock with a sell rating, two have given a hold rating and nine have given a buy rating to the stock. According to MarketBeat.com, Coupang has a consensus rating of "Moderate Buy" and an average target price of $22.61.

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.