Coupang Sees Unusually High Options Volume (NYSE:CPNG)

Coupang, Inc. (NYSE:CPNG) saw some unusual options trading activity on Tuesday. Traders purchased 31,373 call options on the stock. This is an increase of approximately 56% compared to the typical daily volume of 20,146 call options.

Coupang Stock Performance

Shares of CPNG stock opened at $22.99 on Wednesday. The company has a market capitalization of $41.23 billion, a price-to-earnings ratio of 30.65, a price-to-earnings-growth ratio of 19.21 and a beta of 1.13. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.90 and a current ratio of 1.14. Coupang has a one year low of $13.51 and a one year high of $23.77. The company’s 50-day moving average is $19.79 and its 200 day moving average is $17.21.

Coupang (NYSE:CPNG) last posted its quarterly earnings results on Tuesday, February 27th. The company reported $0.08 EPS for the quarter, beating analysts’ consensus estimates of $0.05 by $0.03. Coupang had a net margin of 5.57% and a return on equity of 15.04%. The firm had revenue of $6.56 billion for the quarter, compared to analysts’ expectations of $6.40 billion. During the same quarter in the prior year, the company posted $0.06 earnings per share. The business’s revenue for the quarter was up 23.2% on a year-over-year basis. Sell-side analysts expect that Coupang will post 0.35 EPS for the current fiscal year.

Analysts Set New Price Targets

Several 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 target price for the stock from $18.50 to $21.00 in a report on Thursday, February 29th. Bank of America assumed coverage on Coupang in a research report on Friday, May 3rd. They issued a “buy” rating and a $30.00 price objective on the stock. Barclays upped their target price on Coupang from $24.00 to $25.00 and gave the company an “overweight” rating in a report on Thursday, February 29th. TheStreet upgraded shares of Coupang from a “d+” rating to a “c-” rating in a report on Tuesday, March 5th. Finally, Citigroup upgraded shares of Coupang from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $19.00 to $26.00 in a report on Monday, April 15th. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat, Coupang has an average rating of “Moderate Buy” and a consensus price target of $23.75.

Insider Activity

In related news, major shareholder Svf Investments (Uk) Ltd sold 31,614,154 shares of the business’s stock in a transaction that occurred on Tuesday, March 12th. The shares were sold at an average price of $19.01, for a total transaction of $600,985,067.54. Following the completion of the transaction, the insider now owns 364,542,259 shares of the company’s stock, valued at $6,929,948,343.59. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In other news, insider Harold Rogers sold 139,080 shares of the firm’s stock in a transaction dated Monday, March 18th. The stock was sold at an average price of $18.25, for a total transaction of $2,538,210.00. Following the transaction, the insider now directly owns 394,192 shares of the company’s stock, valued at $7,194,004. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, major shareholder Svf Investments (Uk) Ltd sold 31,614,154 shares of the firm’s stock in a transaction that occurred 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 transaction, the insider now owns 364,542,259 shares in the company, valued at $6,929,948,343.59. The disclosure for this sale can be found here. Insiders have sold a total of 33,355,282 shares of company stock valued at $633,457,030 over the last quarter. Company insiders own 14.90% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in CPNG. Ameriprise Financial Inc. lifted its position in shares of Coupang by 25.3% in the third quarter. Ameriprise Financial Inc. now owns 3,054,223 shares of the company’s stock valued at $51,922,000 after acquiring an additional 616,210 shares in the last quarter. Twenty Acre Capital LP increased its holdings in shares of Coupang by 23.5% in the fourth quarter. Twenty Acre Capital LP now owns 505,914 shares of the company’s stock worth $8,191,000 after purchasing an additional 96,300 shares during the last quarter. M&T Bank Corp purchased a new stake in shares of Coupang in the third quarter worth about $2,415,000. SG Americas Securities LLC lifted its position in shares of Coupang by 1,509.1% in the fourth quarter. SG Americas Securities LLC now owns 163,159 shares of the company’s stock worth $2,642,000 after buying an additional 153,019 shares in the last quarter. Finally, Sapient Capital LLC bought a new position in Coupang during the fourth quarter valued at approximately $2,486,000. 83.72% of the stock is owned by hedge funds and other institutional investors.

Coupang Company Profile

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.