Coupang, Inc. (NYSE:CPNG) Director Benjamin Sun Sells 250,000 Shares

Coupang, Inc. (NYSE:CPNG) Director Benjamin Sun sold 250,000 shares of Coupang stock in a transaction that occurred on Monday, March 17th. The shares were sold at an average price of $23.43, for a total transaction of $5,857,500.00. Following the sale, the director now owns 1,719,421 shares in the company, valued at $40,286,034.03. This represents a 12.69 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

Coupang Stock Up 3.0 %

Shares of NYSE CPNG traded up $0.68 during trading hours on Wednesday, hitting $23.54. The stock had a trading volume of 5,411,169 shares, compared to its average volume of 8,377,040. The company has a market capitalization of $42.50 billion, a P/E ratio of 41.30, a P/E/G ratio of 52.20 and a beta of 1.10. The firm’s 50-day moving average price is $23.34 and its two-hundred day moving average price is $23.91. Coupang, Inc. has a 52 week low of $17.34 and a 52 week high of $26.91. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.86 and a current ratio of 1.13.

Wall Street Analyst Weigh In

CPNG has been the subject of a number of recent analyst reports. Mizuho raised their price target on shares of Coupang from $25.00 to $27.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 26th. Deutsche Bank Aktiengesellschaft raised shares of Coupang from a “hold” rating to a “buy” rating and set a $28.50 price objective for the company in a report on Wednesday, February 26th. Barclays set a $35.00 price objective on shares of Coupang and gave the stock an “overweight” rating in a report on Thursday, February 27th. Finally, Citigroup decreased their price objective on shares of Coupang from $31.00 to $28.00 and set a “buy” rating for the company in a report on Wednesday, January 8th. One equities research analyst has rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $29.17.

Institutional Investors Weigh In On Coupang

Several large investors have recently made changes to their positions in CPNG. Norges Bank acquired a new stake in Coupang in the 4th quarter worth approximately $404,896,000. Price T Rowe Associates Inc. MD lifted its holdings in Coupang by 29.2% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 75,686,648 shares of the company’s stock worth $1,663,594,000 after purchasing an additional 17,123,637 shares during the last quarter. FMR LLC boosted its position in shares of Coupang by 32.0% in the third quarter. FMR LLC now owns 27,153,608 shares of the company’s stock valued at $666,621,000 after acquiring an additional 6,584,910 shares during the period. Durable Capital Partners LP boosted its position in shares of Coupang by 13.6% in the fourth quarter. Durable Capital Partners LP now owns 28,636,287 shares of the company’s stock valued at $629,426,000 after acquiring an additional 3,420,133 shares during the period. Finally, Jacobs Levy Equity Management Inc. boosted its position in shares of Coupang by 106.5% in the fourth quarter. Jacobs Levy Equity Management Inc. now owns 5,778,763 shares of the company’s stock valued at $127,017,000 after acquiring an additional 2,979,981 shares during the period. Institutional investors own 83.72% of the company’s stock.

Coupang Company Profile

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.