Traders Purchase High Volume of Coupang Call Options (NYSE:CPNG)

Coupang, Inc. (NYSE:CPNG) was the target of some unusual options trading on Tuesday. Traders acquired 31,373 call options on the stock. This is an increase of 56% compared to the average daily volume of 20,146 call options.

Coupang Price Performance

Shares of NYSE:CPNG opened at $21.47 on Thursday. The firm has a market capitalization of $38.50 billion, a price-to-earnings ratio of 28.71, 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 current ratio of 1.14 and a quick ratio of 0.90. The business’s 50 day simple moving average is $19.91 and its 200-day simple moving average is $17.24. Coupang has a 12 month low of $13.51 and a 12 month high of $23.77.

Coupang (NYSE:CPNG) last issued its quarterly earnings data on Tuesday, May 7th. The company reported $0.05 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.06 by ($0.01). The firm had revenue of $7.11 billion for the quarter, compared to analyst estimates of $6.95 billion. Coupang had a return on equity of 15.04% and a net margin of 5.57%. The business’s revenue for the quarter was up 22.6% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.05 earnings per share. As a group, equities analysts forecast that Coupang will post 0.35 earnings per share for the current fiscal year.

Insider Activity

In other news, insider Pranam Kolari sold 2,048 shares of the firm’s stock in a transaction that occurred on Thursday, May 2nd. The shares were sold at an average price of $22.34, for a total transaction of $45,752.32. Following the transaction, the insider now directly owns 187,951 shares in the company, valued at $4,198,825.34. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, insider Pranam Kolari sold 2,048 shares of the stock in a transaction dated Thursday, May 2nd. The shares were sold at an average price of $22.34, for a total transaction of $45,752.32. Following the completion of the sale, the insider now owns 187,951 shares in the company, valued at $4,198,825.34. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider Harold Rogers sold 139,080 shares of the company’s stock in a transaction that occurred on Monday, March 18th. The shares were sold at an average price of $18.25, for a total value of $2,538,210.00. Following the sale, the insider now directly owns 394,192 shares of the company’s stock, valued at $7,194,004. The disclosure for this sale can be found here. In the last three months, insiders sold 33,355,282 shares of company stock valued at $633,457,030. Insiders own 14.90% of the company’s stock.

Institutional Investors Weigh In On Coupang

Several institutional investors and hedge funds have recently made changes to their positions in the business. Ameriprise Financial Inc. raised its position in Coupang by 25.3% during the third quarter. Ameriprise Financial Inc. now owns 3,054,223 shares of the company’s stock worth $51,922,000 after acquiring an additional 616,210 shares during the last quarter. Twenty Acre Capital LP grew its holdings in Coupang by 23.5% during the 4th quarter. Twenty Acre Capital LP now owns 505,914 shares of the company’s stock valued at $8,191,000 after buying an additional 96,300 shares during the last quarter. M&T Bank Corp purchased a new position in Coupang during the third quarter worth $2,415,000. SG Americas Securities LLC raised its holdings 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 acquiring an additional 153,019 shares during the last quarter. Finally, Sapient Capital LLC purchased a new stake in shares of Coupang in the fourth quarter valued at $2,486,000. 83.72% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms have recently commented on CPNG. 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 research note on Thursday, February 29th. TheStreet raised Coupang from a “d+” rating to a “c-” rating in a report on Tuesday, March 5th. Barclays increased their target price on Coupang from $24.00 to $25.00 and gave the stock an “overweight” rating in a research note on Thursday, February 29th. Citigroup lifted their price target on Coupang from $26.00 to $28.00 and gave the company a “buy” rating in a research note on Wednesday. Finally, Bank of America initiated coverage on Coupang in a report on Friday, May 3rd. They set a “buy” rating and a $30.00 price objective on the stock. Two investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat, Coupang has an average rating of “Moderate Buy” and a consensus price target of $24.25.

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.