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

Coupang, Inc. (NYSE:CPNG) was the recipient of a significant growth in short interest during the month of February. As of February 28th, there was short interest totalling 17,040,000 shares, a growth of 29.2% from the February 13th total of 13,190,000 shares. Based on an average daily volume of 7,760,000 shares, the days-to-cover ratio is currently 2.2 days. Currently, 1.4% of the company’s shares are short sold.

Analysts Set New Price Targets

Several brokerages recently issued reports on CPNG. Mizuho raised their price objective on Coupang from $25.00 to $27.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 26th. Barclays set a $35.00 price objective on Coupang and gave the stock an “overweight” rating in a research note on Thursday, February 27th. Citigroup dropped their price target on Coupang from $31.00 to $28.00 and set a “buy” rating for the company in a research report on Wednesday, January 8th. Finally, Deutsche Bank Aktiengesellschaft upgraded shares of Coupang from a “hold” rating to a “buy” rating and set a $28.50 price target on the stock in a report on Wednesday, February 26th. One analyst has rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $29.17.

Insider Activity

In other news, VP Pranam Kolari sold 8,459 shares of the stock in a transaction 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 sale, the vice president now directly owns 136,806 shares of the company’s stock, valued at approximately $3,143,801.88. This represents a 5.82 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 13.60% of the company’s stock.

Institutional Investors Weigh In On Coupang

Institutional investors have recently made changes to their positions in the stock. California State Teachers Retirement System grew its stake in shares of Coupang by 0.5% during the fourth quarter. California State Teachers Retirement System now owns 85,489 shares of the company’s stock worth $1,879,000 after purchasing an additional 445 shares in the last quarter. Pacer Advisors Inc. boosted its holdings in Coupang by 4.1% in the 4th quarter. Pacer Advisors Inc. now owns 11,502 shares of the company’s stock valued at $253,000 after purchasing an additional 452 shares in the last quarter. Angeles Wealth Management LLC grew its holdings in Coupang by 0.8% during the fourth quarter. Angeles Wealth Management LLC now owns 55,074 shares of the company’s stock worth $1,211,000 after acquiring an additional 459 shares during the period. Virtus ETF Advisers LLC lifted its stake in shares of Coupang by 1.1% in the fourth quarter. Virtus ETF Advisers LLC now owns 44,341 shares of the company’s stock valued at $975,000 after purchasing an additional 466 shares during the period. Finally, IFP Advisors Inc boosted its stake in shares of Coupang by 3.8% during the 4th quarter. IFP Advisors Inc now owns 12,734 shares of the company’s stock worth $280,000 after acquiring an additional 469 shares in the last quarter. 83.72% of the stock is currently owned by institutional investors and hedge funds.

Coupang Stock Performance

NYSE:CPNG opened at $22.87 on Wednesday. Coupang has a twelve month low of $17.34 and a twelve month high of $26.91. The company has a market cap of $41.28 billion, a P/E ratio of 40.11, a P/E/G ratio of 52.20 and a beta of 1.10. The company has a current ratio of 1.13, a quick ratio of 0.86 and a debt-to-equity ratio of 0.28. The company’s 50-day moving average price is $23.31 and its 200-day moving average price is $23.92.

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.