Jonathan Lee Sells 5,519 Shares of Coupang (NYSE:CPNG) Stock

Coupang, Inc. (NYSE:CPNG) CAO Jonathan Lee sold 5,519 shares of the company’s stock in a transaction dated Monday, August 10th. The stock was sold at an average price of $16.10, for a total value of $88,855.90. Following the completion of the transaction, the chief accounting officer directly owned 181,915 shares in the company, valued at approximately $2,928,831.50. The trade was a 2.94% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Coupang Stock Down 0.8%

CPNG opened at $16.37 on Thursday. Coupang, Inc. has a fifty-two week low of $14.92 and a fifty-two week high of $34.08. The business has a 50-day moving average of $17.00 and a 200-day moving average of $18.05. The company has a debt-to-equity ratio of 0.21, a current ratio of 0.87 and a quick ratio of 0.68. The company has a market capitalization of $29.39 billion, a PE ratio of -38.07 and a beta of 1.13.

Wall Street Analysts Forecast Growth

CPNG has been the topic of several recent research reports. Citigroup lowered shares of Coupang from a “buy” rating to a “neutral” rating and cut their price objective for the company from $23.00 to $22.20 in a research report on Wednesday, May 6th. Bank of America decreased their target price on shares of Coupang from $27.00 to $24.00 and set a “buy” rating for the company in a research report on Wednesday, August 5th. Weiss Ratings restated a “sell (d)” rating on shares of Coupang in a research note on Tuesday, August 4th. The Goldman Sachs Group set a $31.00 price target on shares of Coupang in a report on Thursday, July 9th. Finally, Barclays reaffirmed an “overweight” rating and issued a $29.00 price objective on shares of Coupang in a research note on Tuesday, July 7th. Six equities research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $25.39.

Institutional Investors Weigh In On Coupang

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Norges Bank bought a new stake in Coupang during the fourth quarter worth approximately $498,333,000. Assenagon Asset Management S.A. raised its position in shares of Coupang by 1,394.1% in the first quarter. Assenagon Asset Management S.A. now owns 17,117,583 shares of the company’s stock valued at $323,180,000 after purchasing an additional 15,971,942 shares during the period. Tiger Global Management LLC raised its position in shares of Coupang by 65.9% in the fourth quarter. Tiger Global Management LLC now owns 26,267,259 shares of the company’s stock valued at $619,645,000 after purchasing an additional 10,429,680 shares during the period. Capital International Investors lifted its stake in shares of Coupang by 20.4% in the fourth quarter. Capital International Investors now owns 41,131,036 shares of the company’s stock worth $970,340,000 after buying an additional 6,977,942 shares during the last quarter. Finally, Dragoneer Investment Group LLC lifted its stake in shares of Coupang by 47.1% in the fourth quarter. Dragoneer Investment Group LLC now owns 21,576,556 shares of the company’s stock worth $508,991,000 after buying an additional 6,910,865 shares during the last quarter. 83.72% of the stock is currently owned by institutional investors and hedge funds.

Coupang Company Profile

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.