Traders Buy High Volume of Coupang Put Options (NYSE:CPNG)

Coupang, Inc. (NYSE:CPNG) was the target of some unusual options trading activity on Tuesday. Stock traders bought 36,918 put options on the stock. This is an increase of 67% compared to the average volume of 22,115 put options.

Analysts Set New Price Targets

Several research analysts have commented on CPNG shares. TheStreet upgraded shares of Coupang from a “d+” rating to a “c-” rating in a research report on Tuesday, March 5th. Mizuho upped their target price on Coupang from $20.00 to $23.00 and gave the stock a “neutral” rating in a research note on Wednesday, May 8th. Citigroup lifted their price target on Coupang from $26.00 to $28.00 and gave the company a “buy” rating in a research report on Wednesday, May 8th. UBS Group upgraded shares of Coupang from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $18.50 to $26.00 in a research report on Thursday, May 16th. Finally, Morgan Stanley lifted their target price on shares of Coupang from $26.00 to $27.00 and gave the company an “overweight” rating in a research report on Wednesday, June 26th. One research analyst has rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, Coupang currently has a consensus rating of “Moderate Buy” and a consensus target price of $26.71.

Coupang Stock Down 0.8 %

Shares of NYSE CPNG opened at $20.91 on Wednesday. The stock has a market capitalization of $37.39 billion, a P/E ratio of 29.87, a PEG ratio of 44.76 and a beta of 1.09. Coupang has a one year low of $13.51 and a one year high of $23.77. The firm’s 50 day simple moving average is $22.11 and its two-hundred day simple moving average is $18.85. The company has a debt-to-equity ratio of 0.67, a current ratio of 1.15 and a quick ratio of 0.89.

Coupang (NYSE:CPNG) last released its earnings results on Tuesday, May 7th. The company reported $0.05 EPS for the quarter, missing the consensus estimate of $0.06 by ($0.01). Coupang had a net margin of 4.96% and a return on equity of 13.59%. The business had revenue of $7.11 billion for the quarter, compared to the consensus estimate of $6.95 billion. During the same period in the prior year, the business posted $0.05 EPS. Coupang’s revenue for the quarter was up 22.6% on a year-over-year basis. As a group, analysts expect that Coupang will post 0.03 EPS for the current fiscal year.

Insider Buying and Selling at Coupang

In related news, Director Benjamin Sun sold 700,000 shares of the firm’s stock in a transaction that occurred on Monday, June 17th. The shares were sold at an average price of $20.63, for a total value of $14,441,000.00. Following the completion of the transaction, the director now directly owns 2,169,421 shares of the company’s stock, valued at approximately $44,755,155.23. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, Director Benjamin Sun sold 700,000 shares of the business’s stock in a transaction on Monday, June 17th. The stock was sold at an average price of $20.63, for a total transaction of $14,441,000.00. Following the sale, the director now directly owns 2,169,421 shares in the company, valued at approximately $44,755,155.23. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CAO Jonathan D. Lee sold 5,000 shares of the firm’s stock in a transaction dated Thursday, May 9th. The stock was sold at an average price of $21.45, for a total value of $107,250.00. Following the completion of the transaction, the chief accounting officer now owns 120,835 shares of the company’s stock, valued at approximately $2,591,910.75. The disclosure for this sale can be found here. Insiders have sold a total of 753,538 shares of company stock valued at $15,662,818 over the last three months. 13.60% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Coupang

Several institutional investors have recently bought and sold shares of CPNG. Global Retirement Partners LLC grew its holdings in Coupang by 135.8% in the 1st quarter. Global Retirement Partners LLC now owns 1,436 shares of the company’s stock worth $26,000 after acquiring an additional 827 shares during the last quarter. Headinvest LLC purchased a new stake in shares of Coupang during the third quarter worth about $29,000. GAMMA Investing LLC grew its stake in shares of Coupang by 308.2% in the second quarter. GAMMA Investing LLC now owns 1,947 shares of the company’s stock worth $41,000 after purchasing an additional 1,470 shares during the last quarter. Register Financial Advisors LLC purchased a new position in Coupang during the 1st quarter valued at about $50,000. Finally, Acadian Asset Management LLC raised its position in Coupang by 438.7% during the 1st quarter. Acadian Asset Management LLC now owns 5,581 shares of the company’s stock valued at $99,000 after purchasing an additional 4,545 shares during the last quarter. 83.72% of the stock is currently owned by hedge funds and other 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.