Key Points
- Coupang insider Harold Rogers sold 192,110 shares at an average price of $16.18, generating approximately $3.11 million. His remaining ownership fell 20.59% to 740,931 shares.
- Coupang shares opened at $16.53, near the lower end of their 52-week range of $14.92 to $34.08. The company has a market capitalization of about $29.68 billion, while institutional investors own 83.72% of its stock.
- Analysts maintain a consensus “Hold” rating with an average price target of $25.39; recent targets range from $21.50 to $24.00, despite mixed rating changes.
Coupang, Inc. (NYSE:CPNG - Get Free Report) CAO Jonathan Lee sold 5,519 shares of Coupang stock in a transaction dated Monday, August 10th. The stock was sold at an average price of $16.10, for a total transaction of $88,855.90. Following the transaction, the chief accounting officer directly owned 181,915 shares of the company's stock, valued at approximately $2,928,831.50. This represents a 2.94% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Coupang Stock Performance
Coupang stock opened at $16.53 on Wednesday. The company has a debt-to-equity ratio of 0.21, a current ratio of 0.87 and a quick ratio of 0.68. Coupang, Inc. has a 1-year low of $14.92 and a 1-year high of $34.08. The firm has a market capitalization of $29.68 billion, a P/E ratio of -38.45 and a beta of 1.13. The company's 50-day moving average is $17.00 and its 200 day moving average is $18.07.
Wall Street Analyst Weigh In
A number of equities research analysts recently issued reports on the company. CLSA began coverage on Coupang in a research note on Monday, June 15th. They set an "outperform" rating and a $24.00 price target for the company. Barclays reaffirmed an "overweight" rating and issued a $29.00 price objective on shares of Coupang in a research report on Tuesday, July 7th. Deutsche Bank Aktiengesellschaft upgraded shares of Coupang from a "hold" rating to a "buy" rating and cut their price target for the stock from $23.00 to $21.50 in a report on Wednesday, August 5th. Mizuho set a $22.00 price objective on shares of Coupang in a report on Wednesday, August 5th. Finally, Citigroup cut shares of Coupang from a "buy" rating to a "neutral" rating and lowered their price objective for the company from $23.00 to $22.20 in a research report on Wednesday, May 6th. Six research 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's stock. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $25.39.
View Our Latest Report on Coupang
Institutional Investors Weigh In On Coupang
Several hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. raised its stake in Coupang by 3.3% in the fourth quarter. Vanguard Group Inc. now owns 29,547,637 shares of the company's stock worth $697,029,000 after buying an additional 951,812 shares in the last quarter. Ethic Inc. increased its holdings in shares of Coupang by 383.2% in the 4th quarter. Ethic Inc. now owns 126,154 shares of the company's stock valued at $2,976,000 after acquiring an additional 100,047 shares during the period. Geode Capital Management LLC increased its holdings in shares of Coupang by 7.5% in the 4th quarter. Geode Capital Management LLC now owns 24,327,724 shares of the company's stock valued at $574,068,000 after acquiring an additional 1,689,293 shares during the period. M&T Bank Corp raised its position in shares of Coupang by 22.7% in the 4th quarter. M&T Bank Corp now owns 318,971 shares of the company's stock worth $7,525,000 after acquiring an additional 59,013 shares in the last quarter. Finally, Ashoka WhiteOak Capital Pte Ltd lifted its stake in shares of Coupang by 404.1% during the 4th quarter. Ashoka WhiteOak Capital Pte Ltd now owns 314,383 shares of the company's stock worth $7,586,000 after purchasing an additional 252,020 shares during the last quarter. 83.72% of the stock is currently owned by hedge funds and other institutional investors.
Coupang Company Profile
(
Get Free Report)
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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