Neil Mehta Buys 2,017,241 Shares of Coupang (NYSE:CPNG) Stock

Coupang, Inc. (NYSE:CPNG) Director Neil Mehta purchased 2,017,241 shares of the company’s stock in a transaction that occurred on Wednesday, March 11th. The shares were acquired at an average price of $18.64 per share, for a total transaction of $37,601,372.24. Following the completion of the purchase, the director directly owned 49,978,114 shares in the company, valued at $931,592,044.96. This represents a 4.21% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

Neil Mehta also recently made the following trade(s):

• On Friday, March 13th, Neil Mehta acquired 2,332,863 shares of Coupang stock. The stock was acquired at an average price of $18.40 per share, with a total value of $42,924,679.20.
• On Thursday, March 12th, Neil Mehta purchased 3,000,000 shares of Coupang stock. The stock was bought at an average cost of $18.68 per share, with a total value of $56,040,000.00.

Coupang Stock Performance

Shares of NYSE:CPNG traded down $0.09 during midday trading on Friday, reaching $18.46. 17,422,404 shares of the company traded hands, compared to its average volume of 25,014,828. The firm’s fifty day moving average price is $19.58 and its two-hundred day moving average price is $25.75. The firm has a market capitalization of $33.71 billion, a price-to-earnings ratio of 153.80 and a beta of 1.20. The company has a quick ratio of 0.79, a current ratio of 1.04 and a debt-to-equity ratio of 0.14. Coupang, Inc. has a 12 month low of $16.74 and a 12 month high of $34.08.

Coupang (NYSE:CPNG) last announced its quarterly earnings results on Thursday, February 26th. The company reported ($0.01) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.02 by ($0.03). Coupang had a return on equity of 4.52% and a net margin of 0.60%.The firm had revenue of $8.84 billion during the quarter, compared to analysts’ expectations of $9.12 billion. During the same period in the previous year, the company posted $0.04 earnings per share. The company’s quarterly revenue was up 10.9% compared to the same quarter last year. On average, equities analysts expect that Coupang, Inc. will post 0.17 earnings per share for the current year.

Analysts Set New Price Targets

Several research analysts recently weighed in on the stock. Morgan Stanley decreased their price objective on shares of Coupang from $31.00 to $29.00 and set an “overweight” rating on the stock in a research report on Monday, March 2nd. Citigroup cut their target price on shares of Coupang from $27.00 to $24.00 and set a “buy” rating for the company in a research report on Tuesday, February 10th. Weiss Ratings downgraded Coupang from a “hold (c)” rating to a “sell (d+)” rating in a research report on Monday, March 2nd. UBS Group set a $25.00 target price on shares of Coupang in a report on Thursday, February 19th. Finally, Barclays lifted their price target on Coupang from $23.00 to $24.00 and gave the stock an “overweight” rating in a research note on Monday, March 2nd. Six investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $26.70.

Institutional Investors Weigh In On Coupang

Institutional investors have recently modified their holdings of the stock. Sunbelt Securities Inc. bought a new position in Coupang in the 3rd quarter worth $26,000. Orion Capital Management LLC purchased a new stake in Coupang in the 3rd quarter worth approximately $32,000. Hilltop National Bank bought a new stake in Coupang during the 3rd quarter worth approximately $34,000. Fifth Third Bancorp lifted its holdings in Coupang by 1,250.0% during the third quarter. Fifth Third Bancorp now owns 1,080 shares of the company’s stock valued at $35,000 after purchasing an additional 1,000 shares in the last quarter. Finally, Reflection Asset Management bought a new position in shares of Coupang in the fourth quarter worth approximately $28,000. 83.72% of the stock is owned by hedge funds and other institutional investors.

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.