Coupang (NYSE:CPNG) Insider Sells 192,110 Shares of Stock

Coupang, Inc. (NYSE:CPNG) insider Harold Rogers sold 192,110 shares of the company’s 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 sale, the insider directly owned 740,931 shares of the company’s stock, valued at approximately $11,988,263.58. This represents a 20.59% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Coupang Stock Performance

Coupang stock traded up $0.34 during mid-day trading on Tuesday, reaching $16.53. 20,179,423 shares of the company were exchanged, compared to its average volume of 23,460,725. The firm’s 50-day simple moving average is $17.00 and its two-hundred day simple moving average is $18.10. Coupang, Inc. has a twelve month low of $14.92 and a twelve month high of $34.08. The firm has a market cap of $29.68 billion, a PE ratio of -38.45 and a beta of 1.13. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.68 and a current ratio of 0.87.

Institutional Trading of Coupang

Institutional investors have recently modified their holdings of the business. Dodge & Cox raised its position in Coupang by 4.9% in the fourth quarter. Dodge & Cox now owns 49,233,320 shares of the company’s stock worth $1,161,414,000 after acquiring an additional 2,285,600 shares in the last quarter. Capital International Investors grew its stake in shares of Coupang by 20.4% during the 4th quarter. Capital International Investors now owns 41,131,036 shares of the company’s stock worth $970,340,000 after purchasing an additional 6,977,942 shares during the period. Tiger Global Management LLC grew its stake in shares of Coupang by 31.7% during the 1st quarter. Tiger Global Management LLC now owns 34,595,407 shares of the company’s stock worth $653,161,000 after purchasing an additional 8,328,148 shares during the period. Vanguard Group Inc. increased its holdings in shares of Coupang by 3.3% in the 4th quarter. Vanguard Group Inc. now owns 29,547,637 shares of the company’s stock valued at $697,029,000 after purchasing an additional 951,812 shares in the last quarter. Finally, Durable Capital Partners LP increased its holdings in shares of Coupang by 0.4% in the 3rd quarter. Durable Capital Partners LP now owns 24,833,189 shares of the company’s stock valued at $799,629,000 after purchasing an additional 89,207 shares in the last quarter. 83.72% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research firms recently weighed in on CPNG. Deutsche Bank Aktiengesellschaft upgraded shares of Coupang from a “hold” rating to a “buy” rating and lowered their price objective for the company from $23.00 to $21.50 in a research report on Wednesday, August 5th. Barclays restated an “overweight” rating and set a $29.00 price objective on shares of Coupang in a research report on Tuesday, July 7th. The Goldman Sachs Group set a $31.00 target price on shares of Coupang in a research note on Thursday, July 9th. CLSA began coverage on shares of Coupang in a research note on Monday, June 15th. They set an “outperform” rating and a $24.00 price target on the stock. Finally, Citigroup lowered shares of Coupang from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $23.00 to $22.20 in a research note on Wednesday, May 6th. Six analysts have rated the stock with a Buy rating, four have given a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, Coupang currently has an average rating of “Hold” and an average price target of $25.39.

About Coupang

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.