Coupang Target of Unusually High Options Trading (NYSE:CPNG)

Key Points

• Coupang saw unusually high options activity on Monday, with investors purchasing 46,362 call options—about 64% above the stock’s average daily call volume.
• Coupang shares fell 2.1% to $15.78, near the lower end of their 52-week range. The stock’s analyst consensus remains “Hold,” with an average price target of $25.39.
• Insider Harold Rogers sold shares worth approximately $3.1 million, while institutional investors own 83.72% of the company. Deutsche Bank upgraded Coupang to “Buy,” though it lowered its price target to $21.50.

Coupang, Inc. (NYSE:CPNG - Get Free Report) saw unusually large options trading on Monday. Stock investors acquired 46,362 call options on the stock. This is an increase of approximately 64% compared to the average daily volume of 28,261 call options.

Insider Buying and Selling

In other Coupang news, insider Harold Rogers sold 192,110 shares of the stock in a transaction that occurred on Monday, August 10th. The shares were sold at an average price of $16.18, for a total value of $3,108,339.80. Following the completion of the sale, the insider owned 740,931 shares of the company's stock, valued at $11,988,263.58. This trade represents a 20.59% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Jonathan D. Lee sold 5,519 shares of the firm's stock in a transaction on Monday, August 10th. The shares were sold at an average price of $16.10, for a total transaction of $88,855.90. Following the sale, the chief accounting officer directly owned 181,915 shares of the company's stock, valued at approximately $2,928,831.50. The trade was a 2.94% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 12.83% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Coupang

Several large investors have recently made changes to their positions in CPNG. Sunbelt Securities Inc. bought a new position in Coupang during the third quarter valued at approximately $26,000. Reflection Asset Management bought a new stake in Coupang in the fourth quarter worth approximately $28,000. LGT Financial Advisors LLC bought a new stake in Coupang in the third quarter worth approximately $52,000. Webster Bank N. A. increased its stake in shares of Coupang by 325.8% during the 1st quarter. Webster Bank N. A. now owns 1,699 shares of the company's stock worth $32,000 after purchasing an additional 1,300 shares during the last quarter. Finally, Aster Capital Management DIFC Ltd acquired a new position in shares of Coupang during the 4th quarter worth $42,000. Institutional investors own 83.72% of the company's stock.

Coupang Stock Down 2.1%

NYSE CPNG traded down $0.34 on Monday, reaching $15.78. The stock had a trading volume of 8,717,476 shares, compared to its average volume of 23,146,723. The company has a current ratio of 0.87, a quick ratio of 0.68 and a debt-to-equity ratio of 0.21. Coupang has a 1 year low of $14.92 and a 1 year high of $34.08. The business has a 50 day moving average price of $17.01 and a 200 day moving average price of $18.00. The company has a market capitalization of $28.36 billion, a price-to-earnings ratio of -36.70 and a beta of 1.13.

Analysts Set New Price Targets

A number of equities analysts recently commented on the company. Deutsche Bank Aktiengesellschaft upgraded Coupang from a "hold" rating to a "buy" rating and decreased their price target for the stock from $23.00 to $21.50 in a research note on Wednesday, August 5th. Weiss Ratings reaffirmed a "sell (d)" rating on shares of Coupang in a report on Tuesday, August 4th. The Goldman Sachs Group set a $31.00 price objective on shares of Coupang in a report on Thursday, July 9th. Barclays reaffirmed an "overweight" rating and set a $29.00 price target on shares of Coupang in a research note on Tuesday, July 7th. Finally, CLSA started coverage on shares of Coupang in a research note on Monday, June 15th. They issued an "outperform" rating and a $24.00 price objective on the stock. Six investment analysts have rated the stock with a Buy rating, four have issued a Hold rating and two have given a Sell rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Hold" and an average price target of $25.39.

Coupang Company Profile

Coupang, listed on the New York Stock Exchange under the ticker CPNG, is a South Korean e-commerce company headquartered in Seoul. Founded in 2010 by Bom Kim, the company grew rapidly by combining an online marketplace with a large direct-retail business model. Coupang completed a primary listing in the United States in 2021, and it has become one of South Korea's leading online retailers by focusing on convenience, speed and a wide product assortment across consumer categories.

The company operates a vertically integrated e-commerce platform that includes a customer-facing marketplace and an extensive logistics and fulfillment network.

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