Coupang (NYSE:CPNG) Director Acquires $37,601,372.24 in Stock

Coupang, Inc. (NYSE:CPNG) Director Neil Mehta purchased 2,017,241 shares of the firm’s stock in a transaction dated Wednesday, March 11th. The stock was bought at an average cost of $18.64 per share, with a total value of $37,601,372.24. Following the purchase, the director owned 49,978,114 shares of the company’s stock, valued at approximately $931,592,044.96. This trade represents a 4.21% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website.

Neil Mehta also recently made the following trade(s):

• On Friday, March 13th, Neil Mehta acquired 2,332,863 shares of Coupang stock. The stock was bought at an average cost of $18.40 per share, for a total transaction of $42,924,679.20.
• On Thursday, March 12th, Neil Mehta bought 3,000,000 shares of Coupang stock. The shares were purchased at an average cost of $18.68 per share, with a total value of $56,040,000.00.

Coupang Trading Down 0.5%

Coupang stock traded down $0.09 during mid-day trading on Friday, hitting $18.46. 17,422,404 shares of the stock were exchanged, compared to its average volume of 25,014,828. The stock has a market capitalization of $33.71 billion, a price-to-earnings ratio of 153.80 and a beta of 1.20. Coupang, Inc. has a 12 month low of $16.74 and a 12 month high of $34.08. The company has a quick ratio of 0.79, a current ratio of 1.04 and a debt-to-equity ratio of 0.14. The firm’s fifty day simple moving average is $19.58 and its two-hundred day simple moving average is $25.75.

Coupang (NYSE:CPNG) last posted its quarterly earnings data on Thursday, February 26th. The company reported ($0.01) EPS for the quarter, missing analysts’ consensus estimates of $0.02 by ($0.03). Coupang had a net margin of 0.60% and a return on equity of 4.52%. The firm had revenue of $8.84 billion during the quarter, compared to the consensus estimate of $9.12 billion. During the same period in the prior year, the company posted $0.04 earnings per share. The company’s revenue for the quarter was up 10.9% compared to the same quarter last year. Analysts forecast that Coupang, Inc. will post 0.17 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on CPNG. UBS Group set a $25.00 target price on Coupang in a report on Thursday, February 19th. Barclays increased their target price on shares of Coupang from $23.00 to $24.00 and gave the stock an “overweight” rating in a research note on Monday, March 2nd. Weiss Ratings downgraded shares of Coupang from a “hold (c)” rating to a “sell (d+)” rating in a research note on Monday, March 2nd. Mizuho dropped their price objective on shares of Coupang from $32.00 to $25.00 and set a “neutral” rating on the stock in a report on Friday, February 27th. Finally, Nomura cut their price target on Coupang from $22.00 to $20.00 and set a “neutral” rating on the stock in a report on Monday, March 2nd. Six research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of $26.70.

Hedge Funds Weigh In On Coupang

A number of hedge funds have recently bought and sold shares of CPNG. Sunbelt Securities Inc. bought a new stake in shares of Coupang in the third quarter valued at $26,000. Reflection Asset Management bought a new position in shares of Coupang during the 4th quarter worth $28,000. Orion Capital Management LLC purchased a new stake in Coupang in the 3rd quarter worth about $32,000. Hilltop National Bank bought a new stake in Coupang in the 3rd quarter valued at about $34,000. Finally, Fifth Third Bancorp lifted its holdings in Coupang by 1,250.0% during the third quarter. Fifth Third Bancorp now owns 1,080 shares of the company’s stock valued at $35,000 after purchasing an additional 1,000 shares during the last quarter. 83.72% of the stock is owned by hedge funds and other institutional investors.

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.