Insider Selling: Coupang (NYSE:CPNG) Insider Sells $3,108,339.80 in Stock

Coupang, Inc. (NYSE:CPNG) insider Harold Rogers sold 192,110 shares of Coupang stock in a transaction that occurred on Monday, August 10th. The shares were sold at an average price of $16.18, for a total transaction of $3,108,339.80. Following the completion of the transaction, the insider directly owned 740,931 shares in the company, valued at $11,988,263.58. This trade represents a 20.59% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

Coupang Stock Down 0.1%

NYSE CPNG opened at $16.30 on Friday. The business has a fifty day moving average price of $16.99 and a two-hundred day moving average price of $18.02. 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 fifty-two week low of $14.92 and a fifty-two week high of $34.08. The stock has a market capitalization of $29.25 billion, a PE ratio of -37.90 and a beta of 1.13.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on CPNG shares. The Goldman Sachs Group set a $31.00 price objective on Coupang in a research report on Thursday, July 9th. Citigroup cut Coupang from a “buy” rating to a “neutral” rating and decreased their target price for the company from $23.00 to $22.20 in a research report on Wednesday, May 6th. Bank of America dropped their target price on shares of Coupang from $27.00 to $24.00 and set a “buy” rating for the company in a report on Wednesday, August 5th. CLSA began coverage on shares of Coupang in a research note on Monday, June 15th. They issued an “outperform” rating and a $24.00 price target on the stock. Finally, Deutsche Bank Aktiengesellschaft raised shares of Coupang from a “hold” rating to a “buy” rating and decreased their price target for the company from $23.00 to $21.50 in a report on Wednesday, August 5th. Six analysts have rated the stock with a Buy rating, four have issued a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, Coupang currently has an average rating of “Hold” and a consensus target price of $25.39.

Institutional Investors Weigh In On Coupang

Several hedge funds have recently modified their holdings of CPNG. Tree Line Advisors Hong Kong Ltd. bought a new stake in Coupang during the 2nd quarter worth $67,743,000,000. Flossbach Von Storch SE bought a new position in Coupang in the second quarter valued at about $2,084,000. Handelsbanken Fonder AB raised its position in Coupang by 10.2% in the second quarter. Handelsbanken Fonder AB now owns 702,968 shares of the company’s stock valued at $12,211,000 after purchasing an additional 64,967 shares during the last quarter. Sapient Capital LLC boosted its stake in shares of Coupang by 2.9% during the second quarter. Sapient Capital LLC now owns 128,526 shares of the company’s stock valued at $2,232,000 after purchasing an additional 3,637 shares in the last quarter. Finally, 180 Wealth Advisors LLC boosted its stake in shares of Coupang by 10.3% during the second quarter. 180 Wealth Advisors LLC now owns 39,230 shares of the company’s stock valued at $681,000 after purchasing an additional 3,668 shares in the last quarter. Institutional investors and hedge funds own 83.72% of the company’s stock.

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.