Coupang (NYSE:CPNG) Hits New 1-Year High at $22.95

Coupang, Inc. (NYSE:CPNG)’s share price reached a new 52-week high on Tuesday . The company traded as high as $22.95 and last traded at $22.56, with a volume of 4424355 shares. The stock had previously closed at $22.46.

Analyst Ratings Changes

A number of analysts have recently weighed in on CPNG shares. Deutsche Bank Aktiengesellschaft upgraded shares of Coupang from a “hold” rating to a “buy” rating and increased their target price for the stock from $18.50 to $21.00 in a report on Thursday, February 29th. Barclays increased their target price on shares of Coupang from $24.00 to $25.00 and gave the stock an “overweight” rating in a report on Thursday, February 29th. 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. Finally, TheStreet upgraded shares of Coupang from a “d+” rating to a “c-” rating in a report on Tuesday, March 5th. One equities research analyst has rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $22.42.

Coupang Stock Up 0.3 %

The company has a quick ratio of 0.90, a current ratio of 1.14 and a debt-to-equity ratio of 0.13. The company’s fifty day simple moving average is $18.70 and its 200 day simple moving average is $16.92. The firm has a market capitalization of $40.88 billion, a PE ratio of 30.39 and a beta of 1.32.

Coupang (NYSE:CPNG) last released its earnings results on Tuesday, February 27th. The company reported $0.08 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.05 by $0.03. Coupang had a net margin of 5.57% and a return on equity of 15.04%. The firm had revenue of $6.56 billion during the quarter, compared to analyst estimates of $6.40 billion. During the same period last year, the business earned $0.06 earnings per share. The business’s revenue was up 23.2% on a year-over-year basis. Analysts anticipate that Coupang, Inc. will post 0.32 earnings per share for the current fiscal year.

Insider Activity

In other news, major shareholder Svf Investments (Uk) Ltd sold 31,614,154 shares of Coupang stock in a transaction that occurred on Tuesday, March 12th. 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 directly owns 364,542,259 shares in the company, valued at $6,929,948,343.59. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, insider Harold Rogers sold 139,080 shares of the firm’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 transaction of $2,538,210.00. Following the completion of the sale, the insider now 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 is available through this hyperlink. Also, major shareholder Svf Investments (Uk) Ltd sold 31,614,154 shares of the firm’s stock in a transaction that occurred on Tuesday, March 12th. The shares were sold at an average price of $19.01, for a total transaction of $600,985,067.54. Following the sale, the insider now directly owns 364,542,259 shares of the company’s stock, valued at approximately $6,929,948,343.59. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 33,355,590 shares of company stock worth $633,443,979. Insiders own 14.90% of the company’s stock.

Institutional Investors Weigh In On Coupang

Institutional investors and hedge funds have recently made changes to their positions in the company. Baillie Gifford & Co. grew its position in Coupang by 21.6% in the 4th quarter. Baillie Gifford & Co. now owns 145,524,128 shares of the company’s stock worth $2,356,036,000 after purchasing an additional 25,843,034 shares during the period. FMR LLC grew its position in shares of Coupang by 2.0% during the 3rd quarter. FMR LLC now owns 19,836,006 shares of the company’s stock valued at $337,212,000 after acquiring an additional 381,964 shares during the period. Norges Bank bought a new stake in shares of Coupang during the 4th quarter valued at $250,714,000. Sands Capital Management LLC grew its position in shares of Coupang by 0.7% during the 4th quarter. Sands Capital Management LLC now owns 14,440,552 shares of the company’s stock valued at $233,793,000 after acquiring an additional 98,043 shares during the period. Finally, Foxhaven Asset Management LP grew its position in shares of Coupang by 8.0% during the 4th quarter. Foxhaven Asset Management LP now owns 12,272,369 shares of the company’s stock valued at $198,690,000 after acquiring an additional 904,065 shares during the period. Institutional investors own 83.72% of the company’s stock.

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.