Coupang Sees Unusually High Options Volume (NYSE:CPNG)

Coupang, Inc. (NYSE:CPNG – Get Free Report) saw some unusual options trading activity on Tuesday. Traders bought 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 cap 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 – Get Free Report) posted its latest quarterly results on Tuesday, February 27. The company reported $0.08 earnings per share 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 company had revenue of $6.56 billion for the quarter, compared to analyst expectations of $6.40 billion. During the same quarter of the previous year, the company posted earnings per share of $0.06. The company’s revenue rose 23.2% year over year this quarter. Sell-side analysts expect Coupang to post earnings per share of 0.35 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 increased their price target for the stock from $18.50 to $21.00 in a report on Thursday, February 29. Bank of America covered Coupang in a research report on Friday, May 3. They gave a buy rating and a $30.00 price target for the stock. Barclays raised their price target on Coupang from $24.00 to $25.00 and gave the company an “overweight” rating in a report on Thursday, February 29. 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 raised 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 given 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.

Read our latest Coupang stock report

Insider activity

In related news, major shareholder Svf Investments (Uk) Ltd sold 31,614,154 shares of the company’s stock in a transaction that occurred on Tuesday, March 12. 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 at this hyperlink. In other news, insider Harold Rogers sold 139,080 shares of the company’s stock in a transaction dated Monday, March 18. The shares were 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 via this link. Also, major shareholder Svf Investments (Uk) Ltd sold 31,614,154 shares of the company’s stock in a transaction that took place on Tuesday, March 12. The shares were 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 explanation of this sale can be found here. Insiders sold a total of 33,355,282 shares of the company’s stock, worth $633,457,030, in the last quarter. Company insiders own 14.90% of the company’s shares.

Institutional inflow and outflow

Several hedge funds have recently made changes to their positions in CPNG. Ameriprise Financial Inc. increased its position in Coupang shares 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 grew 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 bought a new stake in shares of Coupang in the third quarter worth approximately $2,415,000. SG Americas Securities LLC increased 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 purchasing an additional 153,019 shares during the last quarter. Finally, Sapient Capital LLC purchased a new position in Coupang in the fourth quarter valued at approximately $2,486,000. 83.72% of the shares are owned by hedge funds and other institutional investors.

Coupang Company Profile

(Get a free report)

Coupang, Inc, together with its subsidiaries, owns and operates retail businesses through its mobile applications and Internet websites primarily in South Korea. The company operates through the Product Commerce and Developing Offers segments. It sells various products and services in the categories of household and decorative products, clothing, beauty products, fresh food and groceries, sporting goods, electronics and daily consumables, as well as travel and restaurant ordering and delivery services.

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