Coupang (NYSE:CPNG) Reaches New 12-Month High at $23.51

Coupang, Inc. (NYSE:CPNG) shares hit a new 52-week high during trading on Monday . The company traded as high as $23.51 and last traded at $23.23, with a volume of 2593238 shares changing hands. The stock had previously closed at $23.00.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on CPNG. TheStreet upgraded shares of Coupang from a “d+” rating to a “c-” rating in a research report on Tuesday, March 5th. Citigroup upgraded shares of 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 report on Monday, April 15th. Deutsche Bank Aktiengesellschaft upgraded Coupang from a “hold” rating to a “buy” rating and raised their target price for the company from $18.50 to $21.00 in a report on Thursday, February 29th. Barclays lifted their target price on Coupang from $24.00 to $25.00 and gave the stock an “overweight” rating in a research note on Thursday, February 29th. Finally, Bank of America initiated coverage on Coupang in a research note on Friday, May 3rd. They set a “buy” rating and a $30.00 price target for the company. One analyst has rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $23.75.

Coupang Stock Performance

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 company has a market cap of $41.23 billion, a P/E ratio of 30.65, a P/E/G ratio of 19.21 and a beta of 1.13. The business has a fifty day moving average of $19.79 and a 200 day moving average of $17.21.

Coupang (NYSE:CPNG) last posted its quarterly earnings data on Tuesday, February 27th. The company reported $0.08 EPS for the quarter, topping the consensus estimate of $0.05 by $0.03. The business had revenue of $6.56 billion for the quarter, compared to analyst estimates of $6.40 billion. Coupang had a net margin of 5.57% and a return on equity of 15.04%. Coupang’s quarterly revenue was up 23.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.06 earnings per share. On average, equities analysts predict that Coupang, Inc. will post 0.35 EPS for the current year.

Insider Transactions at Coupang

In other news, insider Pranam Kolari sold 2,048 shares of Coupang stock in a transaction on Thursday, May 2nd. The shares were sold at an average price of $22.34, for a total transaction of $45,752.32. Following the transaction, the insider now owns 187,951 shares in the company, valued at approximately $4,198,825.34. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, insider Pranam Kolari sold 2,048 shares of the business’s stock in a transaction on Thursday, May 2nd. The shares were sold at an average price of $22.34, for a total value of $45,752.32. Following the transaction, the insider now owns 187,951 shares of the company’s stock, valued at $4,198,825.34. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, major shareholder Svf Investments (Uk) Ltd sold 31,614,154 shares of Coupang stock in a transaction that occurred on Tuesday, March 12th. The stock was sold at an average price of $19.01, for a total value of $600,985,067.54. Following the completion of the sale, the insider now directly owns 364,542,259 shares in the company, valued at approximately $6,929,948,343.59. The disclosure for this sale can be found here. Insiders have sold a total of 33,355,282 shares of company stock worth $633,457,030 in the last ninety days. 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. Global Retirement Partners LLC raised its stake in Coupang by 135.8% in the first quarter. Global Retirement Partners LLC now owns 1,436 shares of the company’s stock worth $26,000 after buying an additional 827 shares in the last quarter. Headinvest LLC acquired a new position in Coupang in the 3rd quarter worth approximately $29,000. Register Financial Advisors LLC acquired a new stake in shares of Coupang in the first quarter worth $50,000. NBC Securities Inc. acquired a new position in shares of Coupang in the 3rd quarter valued at about $51,000. Finally, Nomura Asset Management Co. Ltd. lifted its holdings in Coupang by 27.2% in the fourth quarter. Nomura Asset Management Co. Ltd. now owns 8,528 shares of the company’s stock valued at $138,000 after acquiring an additional 1,821 shares during the period. 83.72% of the stock is owned by hedge funds and other institutional investors.

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.