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

Coupang, Inc. (NYSE:CPNGGet Free Report) insider Harold Rogers sold 192,110 shares of the business’s stock in a transaction that occurred on Monday, August 10th. The stock was sold at an average price of $16.18, for a total value of $3,108,339.80. Following the sale, the insider owned 740,931 shares of the company’s stock, valued at approximately $11,988,263.58. The trade was a 20.59% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Coupang Stock Up 2.1%

CPNG traded up $0.34 on Tuesday, reaching $16.53. The company’s stock had a trading volume of 20,179,423 shares, compared to its average volume of 23,460,725. The company has a market capitalization of $29.68 billion, a price-to-earnings ratio of -38.45 and a beta of 1.13. Coupang, Inc. has a fifty-two week low of $14.92 and a fifty-two week high of $34.08. The company has a quick ratio of 0.68, a current ratio of 0.87 and a debt-to-equity ratio of 0.21. The stock has a 50 day moving average of $17.00 and a two-hundred day moving average of $18.10.

Hedge Funds Weigh In On Coupang

A number of hedge funds have recently modified their holdings of CPNG. Sunbelt Securities Inc. purchased a new stake in Coupang in the 3rd quarter valued at $26,000. Reflection Asset Management purchased a new position in Coupang during the 4th quarter worth $28,000. Webster Bank N. A. grew its position in Coupang by 325.8% during the 1st quarter. Webster Bank N. A. now owns 1,699 shares of the company’s stock worth $32,000 after purchasing an additional 1,300 shares during the last quarter. Main Street Group LTD acquired a new position in Coupang in the first quarter valued at $40,000. Finally, Aster Capital Management DIFC Ltd purchased a new stake in shares of Coupang in the fourth quarter valued at about $42,000. 83.72% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

CPNG has been the topic of a number of recent analyst reports. The Goldman Sachs Group set a $31.00 target price on shares of Coupang in a research report on Thursday, July 9th. Weiss Ratings reissued a “sell (d)” rating on shares of Coupang in a research report on Tuesday, August 4th. Deutsche Bank Aktiengesellschaft upgraded shares of Coupang from a “hold” rating to a “buy” rating and decreased their price objective for the company from $23.00 to $21.50 in a research note on Wednesday, August 5th. Bank of America cut their target price on Coupang from $27.00 to $24.00 and set a “buy” rating on the stock in a research report on Wednesday, August 5th. Finally, CLSA assumed coverage on Coupang in a report on Monday, June 15th. They issued an “outperform” rating and a $24.00 target price for the company. Six research analysts have rated the stock with a Buy rating, four have given a Hold rating and two have issued a Sell rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $25.39.

View Our Latest Analysis on CPNG

About Coupang

(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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