Coupang (NYSE:CPNG) Shares Up 2.2%

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

Analysts Set New Price Targets

A number of analysts recently weighed in on CPNG shares. Deutsche Bank Aktiengesellschaft upgraded shares of Coupang from a “hold” rating to a “buy” rating and upped their target price for the stock from $18.50 to $21.00 in a research note on Thursday, February 29th. TheStreet upgraded shares of Coupang from a “d+” rating to a “c-” rating in a research note on Tuesday, March 5th. Citigroup upgraded shares of Coupang from a “neutral” rating to a “buy” rating and upped their target price for the stock from $19.00 to $26.00 in a research note on Monday. Barclays upped their target price on shares of Coupang from $24.00 to $25.00 and gave the stock an “overweight” rating in a research note on Thursday, February 29th. Finally, UBS Group lowered shares of Coupang from a “buy” rating to a “neutral” rating and dropped their price target for the company from $26.00 to $18.50 in a research note on Wednesday, December 20th. One analyst has rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $22.42.

Coupang Price Performance

The company has a market capitalization of $40.57 billion, a PE ratio of 30.17 and a beta of 1.32. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.14 and a quick ratio of 0.90. The company’s 50 day simple moving average is $17.92 and its 200 day simple moving average is $16.73.

Coupang (NYSE:CPNG) last announced its quarterly earnings results on Tuesday, February 27th. The company reported $0.08 EPS for the quarter, beating the consensus estimate of $0.05 by $0.03. The company 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%. The firm’s revenue was up 23.2% on a year-over-year basis. During the same period in the prior year, the firm posted $0.06 earnings per share. As a group, sell-side analysts predict that Coupang, Inc. will post 0.29 earnings per share for the current year.

Insider Activity

In other news, major shareholder Svf Investments (Uk) Ltd sold 31,614,154 shares of the 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 of the company’s stock, valued at $6,929,948,343.59. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, major shareholder Svf Investments (Uk) Ltd sold 31,614,154 shares of the 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 of the company’s stock, valued at $6,929,948,343.59. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Pranam Kolari sold 2,356 shares of the stock in a transaction on Friday, February 2nd. The stock was sold at an average price of $13.88, for a total value of $32,701.28. Following the sale, the insider now directly owns 182,844 shares of the company’s stock, valued at $2,537,874.72. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 33,355,590 shares of company stock valued at $633,443,979. 14.90% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Coupang

Several hedge funds have recently modified their holdings of CPNG. Raymond James & Associates lifted its holdings in shares of Coupang by 64.0% during the first quarter. Raymond James & Associates now owns 188,859 shares of the company’s stock worth $3,339,000 after purchasing an additional 73,703 shares during the period. Bank of New York Mellon Corp lifted its holdings in shares of Coupang by 140.7% during the first quarter. Bank of New York Mellon Corp now owns 1,035,866 shares of the company’s stock worth $18,315,000 after purchasing an additional 605,499 shares during the period. Cambridge Investment Research Advisors Inc. lifted its holdings in shares of Coupang by 111.0% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 23,878 shares of the company’s stock worth $422,000 after purchasing an additional 12,562 shares during the period. HighTower Advisors LLC lifted its holdings in Coupang by 27.0% in the first quarter. HighTower Advisors LLC now owns 81,147 shares of the company’s stock valued at $1,435,000 after acquiring an additional 17,248 shares during the period. Finally, Citigroup Inc. lifted its holdings in Coupang by 75.8% in the first quarter. Citigroup Inc. now owns 78,576 shares of the company’s stock valued at $1,389,000 after acquiring an additional 33,890 shares during the period. 83.72% of the stock is owned by institutional investors and hedge funds.

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.