Coupang, Inc. (NYSE:CPNG) Short Interest Update

Coupang, Inc. (NYSE:CPNG - Get Free Report) was the target of a large increase in short interest during the month of February. As of February 28th, there was short interest totalling 17,040,000 shares, an increase of 29.2% from the February 13th total of 13,190,000 shares. Currently, 1.4% of the company's stock are short sold. Based on an average daily trading volume, of 7,760,000 shares, the days-to-cover ratio is presently 2.2 days.

Coupang Stock Performance

CPNG traded down $0.01 during trading on Friday, hitting $23.31. The stock had a trading volume of 1,141,237 shares, compared to its average volume of 8,330,917. The company has a 50 day moving average price of $23.36 and a 200-day moving average price of $23.91. The firm has a market cap of $42.08 billion, a price-to-earnings ratio of 40.88, a P/E/G ratio of 52.20 and a beta of 1.10. Coupang has a one year low of $17.34 and a one year high of $26.91. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.13 and a quick ratio of 0.86.

Analysts Set New Price Targets

Several research firms have weighed in on CPNG. Deutsche Bank Aktiengesellschaft raised Coupang from a "hold" rating to a "buy" rating and set a $28.50 price target on the stock in a research report on Wednesday, February 26th. Mizuho boosted their price target on Coupang from $25.00 to $27.00 and gave the stock a "neutral" rating in a research report on Wednesday, February 26th. Barclays set a $35.00 price target on Coupang and gave the stock an "overweight" rating in a research report on Thursday, February 27th. Finally, Citigroup reduced their target price on Coupang from $31.00 to $28.00 and set a "buy" rating for the company in a research note on Wednesday, January 8th. One research analyst has rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat, Coupang has an average rating of "Moderate Buy" and an average price target of $29.17.

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Insider Activity at Coupang

In related news, Director Benjamin Sun sold 250,000 shares of Coupang stock in a transaction that occurred on Monday, March 17th. The stock was sold at an average price of $23.43, for a total value of $5,857,500.00. Following the sale, the director now owns 1,719,421 shares of the company's stock, valued at approximately $40,286,034.03. This trade represents a 12.69 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Pranam Kolari sold 8,459 shares of the business's stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $22.98, for a total value of $194,387.82. Following the transaction, the vice president now directly owns 136,806 shares in the company, valued at $3,143,801.88. This trade represents a 5.82 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 259,234 shares of company stock valued at $6,069,015. 13.60% of the stock is owned by insiders.

Institutional Trading of Coupang

A number of institutional investors have recently modified their holdings of CPNG. Atria Investments Inc lifted its position in shares of Coupang by 4.2% during the 3rd quarter. Atria Investments Inc now owns 23,111 shares of the company's stock valued at $567,000 after acquiring an additional 937 shares during the period. Sumitomo Mitsui Trust Group Inc. lifted its position in shares of Coupang by 0.3% during the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 374,807 shares of the company's stock valued at $9,202,000 after acquiring an additional 1,135 shares during the period. Victory Capital Management Inc. lifted its position in shares of Coupang by 0.9% during the 3rd quarter. Victory Capital Management Inc. now owns 112,567 shares of the company's stock valued at $2,764,000 after acquiring an additional 1,024 shares during the period. Oppenheimer & Co. Inc. lifted its position in shares of Coupang by 10.6% during the 3rd quarter. Oppenheimer & Co. Inc. now owns 11,265 shares of the company's stock valued at $277,000 after acquiring an additional 1,082 shares during the period. Finally, CIBC Asset Management Inc lifted its position in shares of Coupang by 5.0% during the 3rd quarter. CIBC Asset Management Inc now owns 54,709 shares of the company's stock valued at $1,343,000 after acquiring an additional 2,604 shares during the period. 83.72% of the stock is currently owned by institutional investors.

About Coupang

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.