Stock Traders Buy Large Volume of Call Options on Coupang (NYSE:CPNG)

Coupang, Inc. (NYSE:CPNG - Get Free Report) was the target of some unusual options trading on Friday. Stock investors purchased 39,524 call options on the stock. This is an increase of approximately 196% compared to the average daily volume of 13,362 call options.

Coupang Price Performance

NYSE:CPNG traded up $2.19 during trading hours on Friday, hitting $21.25. 51,049,236 shares of the stock were exchanged, compared to its average volume of 12,912,950. Coupang has a 52-week low of $13.51 and a 52-week high of $21.43. The firm's fifty day moving average price is $17.43 and its 200 day moving average price is $16.62. The company has a current ratio of 1.14, a quick ratio of 0.90 and a debt-to-equity ratio of 0.13. The company has a market cap of $38.11 billion, a P/E ratio of 28.33 and a beta of 1.32.

Coupang (NYSE:CPNG - Get Free Report) last posted its quarterly earnings data on Tuesday, February 27th. The company reported $0.08 EPS for the quarter, topping the consensus estimate of $0.05 by $0.03. Coupang had a return on equity of 15.04% and a net margin of 5.57%. The company had revenue of $6.56 billion during the quarter, compared to analyst estimates of $6.40 billion. During the same period in the previous year, the business earned $0.06 EPS. Coupang's quarterly revenue was up 23.2% on a year-over-year basis. As a group, equities research analysts anticipate that Coupang will post 0.29 EPS for the current fiscal year.

Insider Activity

In other news, Director Neil Mehta sold 1,600,000 shares of the business's stock in a transaction dated Thursday, March 14th. The stock was sold at an average price of $18.68, for a total value of $29,888,000.00. Following the completion of the transaction, the director now owns 48,006,135 shares of the company's stock, valued at approximately $896,754,601.80. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, insider Harold Rogers sold 139,080 shares of the business's stock in a transaction dated Monday, March 18th. The stock was sold at an average price of $18.25, for a total value of $2,538,210.00. Following the completion of the transaction, the insider now owns 394,192 shares of the company's stock, valued at approximately $7,194,004. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Neil Mehta sold 1,600,000 shares of the business's stock in a transaction dated Thursday, March 14th. The shares were sold at an average price of $18.68, for a total value of $29,888,000.00. Following the completion of the transaction, the director now directly owns 48,006,135 shares of the company's stock, valued at approximately $896,754,601.80. The disclosure for this sale can be found here. Insiders sold a total of 33,355,590 shares of company stock valued at $633,443,979 in the last quarter. 14.90% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Coupang

Several large investors have recently bought and sold shares of the company. Baillie Gifford & Co. grew its position in shares of Coupang by 21.6% in the fourth quarter. Baillie Gifford & Co. now owns 145,524,128 shares of the company's stock valued at $2,356,036,000 after purchasing an additional 25,843,034 shares in the last quarter. Price T Rowe Associates Inc. MD grew its position in shares of Coupang by 12.4% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 59,970,385 shares of the company's stock valued at $970,922,000 after purchasing an additional 6,618,577 shares in the last quarter. Duquesne Family Office LLC grew its position in shares of Coupang by 4.4% in the fourth quarter. Duquesne Family Office LLC now owns 20,283,765 shares of the company's stock valued at $298,374,000 after purchasing an additional 849,458 shares in the last quarter. FMR LLC grew its position in shares of Coupang by 2.0% in the third quarter. FMR LLC now owns 19,836,006 shares of the company's stock valued at $337,212,000 after purchasing an additional 381,964 shares in the last quarter. Finally, Viking Global Investors LP grew its position in shares of Coupang by 255.2% in the fourth quarter. Viking Global Investors LP now owns 15,494,869 shares of the company's stock valued at $250,862,000 after purchasing an additional 11,132,325 shares in the last quarter. 83.72% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several brokerages have recently issued reports on CPNG. Deutsche Bank Aktiengesellschaft raised Coupang from a "hold" rating to a "buy" rating and boosted their price objective for the company from $18.50 to $21.00 in a report on Thursday, February 29th. Citigroup cut Coupang from a "buy" rating to a "neutral" rating and reduced their price target for the stock from $20.00 to $17.00 in a report on Tuesday, January 16th. UBS Group cut Coupang from a "buy" rating to a "neutral" rating and reduced their price target for the stock from $26.00 to $18.50 in a report on Wednesday, December 20th. TheStreet raised Coupang from a "d+" rating to a "c-" rating in a report on Tuesday, March 5th. Finally, Barclays upped their price target on Coupang from $24.00 to $25.00 and gave the stock an "overweight" rating in a report on Thursday, February 29th. Two investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, Coupang has a consensus rating of "Moderate Buy" and a consensus price target of $20.92.

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.