Coupang (NYSE:CPNG) Stock Price Up 2.2%

Shares of Coupang, Inc. (NYSE:CPNG) shot up 2.2% during mid-day trading on Tuesday . The stock traded as high as $22.13 and last traded at $22.13. 3,149,534 shares were traded during trading, a decline of 76% from the average session volume of 12,974,112 shares. The stock had previously closed at $21.65.

Analysts Set New Price Targets

Several brokerages have recently issued reports on CPNG. UBS Group downgraded shares of Coupang from a “buy” rating to a “neutral” rating and lowered their price objective for the stock from $26.00 to $18.50 in a research report on Wednesday, December 20th. Barclays increased their price objective on shares of Coupang from $24.00 to $25.00 and gave the stock an “overweight” rating in a research report on Thursday, February 29th. Citigroup raised shares of Coupang from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $19.00 to $26.00 in a research report on Monday. TheStreet raised shares of Coupang from a “d+” rating to a “c-” rating in a research report on Tuesday, March 5th. Finally, Deutsche Bank Aktiengesellschaft raised shares of Coupang from a “hold” rating to a “buy” rating and increased their price objective for the stock from $18.50 to $21.00 in a research report on Thursday, February 29th. One research analyst has rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, Coupang presently has a consensus rating of “Moderate Buy” and a consensus target price of $22.42.

Coupang Trading Up 4.4 %

The business’s 50-day moving average price is $17.59 and its 200 day moving average price is $16.65. The company has a market cap of $40.53 billion, a P/E ratio of 28.92 and a beta of 1.32. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.90 and a current ratio of 1.14.

Coupang (NYSE:CPNG) last announced its quarterly earnings data on Tuesday, February 27th. The company reported $0.08 EPS for the quarter, beating analysts’ consensus estimates of $0.05 by $0.03. Coupang had a net margin of 5.57% and a return on equity of 15.04%. The company had revenue of $6.56 billion during the quarter, compared to the consensus estimate of $6.40 billion. During the same quarter last year, the firm posted $0.06 EPS. The company’s quarterly revenue was up 23.2% on a year-over-year basis. As a group, analysts expect that Coupang, Inc. will post 0.29 earnings per share for the current year.

Insider Activity

In other news, Director Neil Mehta sold 1,600,000 shares of the firm’s stock in a transaction dated Thursday, March 14th. The shares were sold at an average price of $18.68, for a total transaction of $29,888,000.00. Following the completion of the sale, the director now owns 48,006,135 shares in the company, valued at approximately $896,754,601.80. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In other news, insider Harold Rogers sold 139,080 shares of the firm’s stock in a transaction dated Monday, March 18th. The shares were sold at an average price of $18.25, for a total transaction of $2,538,210.00. Following the completion of the sale, the insider now owns 394,192 shares in the company, valued at approximately $7,194,004. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Neil Mehta sold 1,600,000 shares of the firm’s stock in a transaction dated Thursday, March 14th. The stock was sold at an average price of $18.68, for a total transaction of $29,888,000.00. Following the sale, the director now owns 48,006,135 shares of the company’s stock, valued at approximately $896,754,601.80. The disclosure for this sale can be found here. Insiders sold a total of 33,355,590 shares of company stock valued at $633,443,979 in the last quarter. Company insiders own 14.90% of the company’s stock.

Institutional Trading of Coupang

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Envestnet Asset Management Inc. raised its stake in Coupang by 2.6% in the 2nd quarter. Envestnet Asset Management Inc. now owns 26,558 shares of the company’s stock worth $462,000 after purchasing an additional 665 shares in the last quarter. Private Advisor Group LLC raised its position in shares of Coupang by 1.6% in the 4th quarter. Private Advisor Group LLC now owns 47,052 shares of the company’s stock valued at $762,000 after buying an additional 760 shares in the last quarter. CIBC Asset Management Inc raised its position in shares of Coupang by 2.3% in the 3rd quarter. CIBC Asset Management Inc now owns 39,502 shares of the company’s stock valued at $672,000 after buying an additional 899 shares in the last quarter. Raymond James & Associates raised its position in shares of Coupang by 1.2% in the 4th quarter. Raymond James & Associates now owns 87,812 shares of the company’s stock valued at $1,422,000 after buying an additional 1,031 shares in the last quarter. Finally, Johnson Investment Counsel Inc. raised its position in shares of Coupang by 1.5% in the 4th quarter. Johnson Investment Counsel Inc. now owns 73,612 shares of the company’s stock valued at $1,192,000 after buying an additional 1,080 shares in the last quarter. Institutional investors and hedge funds own 83.72% of the company’s stock.

About Coupang

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.