Coupang (NYSE:CPNG) Hits New 1-Year High at $22.95

Coupang, Inc. (NYSE:CPNG) shares reached a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $22.95 and last traded at $22.56, with a volume of 4424355 shares traded. The stock had previously closed at $22.46.

Analyst Ratings Changes

Several research firms recently issued reports on CPNG. Barclays upped their target price on Coupang from $24.00 to $25.00 and gave the stock an “overweight” rating in a report on Thursday, February 29th. Deutsche Bank Aktiengesellschaft upgraded Coupang from a “hold” rating to a “buy” rating and upped their target price for the stock from $18.50 to $21.00 in a report on Thursday, February 29th. TheStreet upgraded Coupang from a “d+” rating to a “c-” rating in a report on Tuesday, March 5th. Finally, Citigroup upgraded Coupang from a “neutral” rating to a “buy” rating and upped their price objective for the company from $19.00 to $26.00 in a research note on Monday, April 15th. One research analyst has rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $22.42.

Coupang Stock Performance

The company has a market cap of $40.88 billion, a P/E ratio of 30.39 and a beta of 1.32. The company has a quick ratio of 0.90, a current ratio of 1.14 and a debt-to-equity ratio of 0.13. The stock has a 50 day moving average price of $18.70 and a two-hundred day moving average price of $16.92.

Coupang (NYSE:CPNG) last announced its earnings results on Tuesday, February 27th. The company reported $0.08 earnings per share for the quarter, topping analysts’ consensus estimates of $0.05 by $0.03. The company had revenue of $6.56 billion for the quarter, compared to analyst estimates of $6.40 billion. Coupang had a return on equity of 15.04% and a net margin of 5.57%. The firm’s quarterly revenue was up 23.2% compared to the same quarter last year. During the same quarter last year, the company earned $0.06 earnings per share. On average, research analysts predict that Coupang, Inc. will post 0.32 earnings per share for the current fiscal year.

Insider Transactions at Coupang

In other news, insider Pranam Kolari sold 2,356 shares of the stock in a transaction that occurred on Friday, February 2nd. The stock was sold at an average price of $13.88, for a total transaction of $32,701.28. Following the transaction, the insider now owns 182,844 shares in the company, valued at $2,537,874.72. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In related news, major shareholder Svf Investments (Uk) Ltd sold 31,614,154 shares of the stock in a transaction that occurred on Tuesday, March 12th. The stock was sold at an average price of $19.01, for a total transaction of $600,985,067.54. Following the sale, the insider now owns 364,542,259 shares of the company’s stock, valued at $6,929,948,343.59. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Pranam Kolari sold 2,356 shares of the stock in a transaction that occurred on Friday, February 2nd. The stock was sold at an average price of $13.88, for a total value of $32,701.28. Following the sale, the insider now directly owns 182,844 shares in the company, valued at approximately $2,537,874.72. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 33,355,590 shares of company stock worth $633,443,979. Company insiders own 14.90% of the company’s stock.

Institutional Investors Weigh In On Coupang

Large investors have recently added to or reduced their stakes in the stock. Ameriprise Financial Inc. grew its position in Coupang by 25.3% during the third quarter. Ameriprise Financial Inc. now owns 3,054,223 shares of the company’s stock worth $51,922,000 after buying an additional 616,210 shares in the last quarter. Twenty Acre Capital LP boosted its holdings in shares of Coupang by 23.5% in the 4th quarter. Twenty Acre Capital LP now owns 505,914 shares of the company’s stock valued at $8,191,000 after purchasing an additional 96,300 shares in the last quarter. M&T Bank Corp acquired a new stake in shares of Coupang in the 3rd quarter valued at $2,415,000. SG Americas Securities LLC boosted its holdings in shares of Coupang by 1,509.1% in the 4th quarter. SG Americas Securities LLC now owns 163,159 shares of the company’s stock valued at $2,642,000 after purchasing an additional 153,019 shares in the last quarter. Finally, Sapient Capital LLC acquired a new stake in shares of Coupang in the 4th quarter valued at $2,486,000. Institutional investors and hedge funds own 83.72% of the company’s stock.

Coupang Company Profile

Coupang, Inc, together with its subsidiaries owns and operates retail business through its mobile applications and Internet websites primarily in South Korea. The company operates through Product Commerce and Developing Offerings segments. It sells various products and services in the categories of home goods and décor products, apparel, beauty products, fresh food and groceries, sporting goods, electronics, and everyday consumables, as well as travel, and restaurant order and delivery services.