Coupang (NYSE:CPNG) CAO Sells $88,855.90 in Stock

Coupang, Inc. (NYSE:CPNG) CAO Jonathan Lee sold 5,519 shares of Coupang stock in a transaction on 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 $2,928,831.50. This represents a 2.94% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Coupang Price Performance

CPNG stock opened at $16.30 on Friday. The firm has a market cap of $29.25 billion, a price-to-earnings ratio of -37.90 and a beta of 1.13. The company has a quick ratio of 0.68, a current ratio of 0.87 and a debt-to-equity ratio of 0.21. Coupang, Inc. has a 12-month low of $14.92 and a 12-month high of $34.08. The company’s fifty day simple moving average is $16.99 and its 200 day simple moving average is $18.02.

Hedge Funds Weigh In On Coupang

A number of institutional investors and hedge funds have recently made changes to their positions in CPNG. Sunbelt Securities Inc. bought a new stake in Coupang in the 3rd quarter valued at about $26,000. Reflection Asset Management acquired a new position in Coupang during the 4th quarter worth approximately $28,000. LGT Financial Advisors LLC bought a new position in Coupang in the third quarter worth approximately $52,000. Webster Bank N. A. boosted its holdings in Coupang by 325.8% in the first quarter. Webster Bank N. A. now owns 1,699 shares of the company’s stock worth $32,000 after acquiring an additional 1,300 shares in the last quarter. Finally, Aster Capital Management DIFC Ltd acquired a new stake in Coupang in the fourth quarter valued at approximately $42,000. Institutional investors own 83.72% of the company’s stock.

Wall Street Analyst Weigh In

CPNG has been the topic of a number of recent analyst reports. Mizuho set a $22.00 price objective on Coupang in a research note on Wednesday, August 5th. CLSA initiated coverage on Coupang in a report on Monday, June 15th. They issued an “outperform” rating and a $24.00 target price for the company. Bank of America dropped their price target on Coupang from $27.00 to $24.00 and set a “buy” rating on the stock in a research note on Wednesday, August 5th. Weiss Ratings restated a “sell (d)” rating on shares of Coupang in a report on Tuesday, August 4th. Finally, Deutsche Bank Aktiengesellschaft raised shares of Coupang from a “hold” rating to a “buy” rating and reduced their price objective for the stock from $23.00 to $21.50 in a research report on Wednesday, August 5th. Six research analysts have rated the stock with a Buy rating, four have issued a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price 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.