Coupang (NYSE:CPNG) Director Acquires $42,924,679.20 in Stock

Coupang, Inc. (NYSE:CPNG) Director Neil Mehta acquired 2,332,863 shares of Coupang stock in a transaction on Friday, March 13th. The stock was purchased at an average price of $18.40 per share, with a total value of $42,924,679.20. Following the purchase, the director owned 55,310,977 shares of the company’s stock, valued at $1,017,721,976.80. The trade was a 4.40% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.

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

• On Thursday, March 12th, Neil Mehta bought 3,000,000 shares of Coupang stock. The stock was acquired at an average cost of $18.68 per share, for a total transaction of $56,040,000.00.
• On Wednesday, March 11th, Neil Mehta purchased 2,017,241 shares of Coupang stock. The stock was acquired at an average price of $18.64 per share, with a total value of $37,601,372.24.

Coupang Stock Performance

NYSE:CPNG traded down $0.09 during trading hours on Friday, reaching $18.46. 17,422,404 shares of the company’s stock were exchanged, compared to its average volume of 25,014,828. 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 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 1-year low of $16.74 and a 1-year high of $34.08. The company has a 50-day moving average of $19.58 and a 200 day moving average of $25.75.

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

Wall Street Analyst Weigh In

Several research firms have recently commented on CPNG. Weiss Ratings cut Coupang from a “hold (c)” rating to a “sell (d+)” rating in a research note on Monday, March 2nd. Citigroup reduced their target price on Coupang from $27.00 to $24.00 and set a “buy” rating for the company in a report on Tuesday, February 10th. Morgan Stanley reduced their price target on shares of Coupang from $31.00 to $29.00 and set an “overweight” rating for the company in a research report on Monday, March 2nd. UBS Group set a $25.00 price target on Coupang in a research note on Thursday, February 19th. Finally, Sanford C. Bernstein reaffirmed an “underperform” rating on shares of Coupang in a research note on Monday, March 2nd. Six research analysts have rated the stock with a Buy rating, three have issued a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $26.70.

Institutional Trading of Coupang

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Corient Private Wealth LLC lifted its holdings in shares of Coupang by 13.7% during the 4th quarter. Corient Private Wealth LLC now owns 75,276 shares of the company’s stock worth $1,742,000 after acquiring an additional 9,095 shares during the period. Hsbc Holdings PLC increased its position in Coupang by 140.3% during the fourth quarter. Hsbc Holdings PLC now owns 1,482,212 shares of the company’s stock worth $35,154,000 after purchasing an additional 865,386 shares during the last quarter. Caitong International Asset Management Co. Ltd acquired a new position in Coupang during the fourth quarter worth approximately $1,245,000. Reflection Asset Management purchased a new position in Coupang during the fourth quarter worth approximately $28,000. Finally, Alpine Global Management LLC purchased a new position in Coupang during the fourth quarter worth approximately $484,000. Hedge funds and other institutional investors own 83.72% of the company’s stock.

About Coupang

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.