Coupang (NYSE:CPNG) CAO Jonathan Lee Sells 5,519 Shares of Stock

Coupang, Inc. (NYSE:CPNG) CAO Jonathan Lee sold 5,519 shares of Coupang stock in a transaction that occurred on Monday, August 10th. The shares were sold at an average price of $16.10, for a total transaction of $88,855.90. Following the transaction, the chief accounting officer directly owned 181,915 shares in the company, valued at $2,928,831.50. This represents a 2.94% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Coupang Stock Up 2.1%

Shares of CPNG stock opened at $16.53 on Wednesday. The company has a market capitalization of $29.68 billion, a price-to-earnings ratio of -38.45 and a beta of 1.13. The company has a debt-to-equity ratio of 0.21, a current ratio of 0.87 and a quick ratio of 0.68. The company’s fifty day moving average price is $17.00 and its 200-day moving average price is $18.07. Coupang, Inc. has a one year low of $14.92 and a one year high of $34.08.

Analyst Ratings Changes

CPNG has been the topic of several research analyst reports. Mizuho set a $22.00 price target on shares of Coupang in a research note on Wednesday, August 5th. Deutsche Bank Aktiengesellschaft upgraded Coupang from a “hold” rating to a “buy” rating and decreased their target price for the stock from $23.00 to $21.50 in a research report on Wednesday, August 5th. The Goldman Sachs Group set a $31.00 price objective on Coupang in a research note on Thursday, July 9th. CLSA initiated coverage on Coupang in a report on Monday, June 15th. They set an “outperform” rating and a $24.00 price objective on the stock. Finally, Citigroup downgraded Coupang from a “buy” rating to a “neutral” rating and lowered their target price for the company from $23.00 to $22.20 in a research report on Wednesday, May 6th. Six equities research analysts have rated the stock with a Buy rating, four have issued a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $25.39.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in CPNG. Sunbelt Securities Inc. bought a new stake in shares of Coupang in the 3rd quarter valued at approximately $26,000. Reflection Asset Management bought a new position in shares of Coupang during the 4th quarter valued at approximately $28,000. Webster Bank N. A. raised its holdings in Coupang by 325.8% during the 1st quarter. Webster Bank N. A. now owns 1,699 shares of the company’s stock valued at $32,000 after buying an additional 1,300 shares during the period. Main Street Group LTD purchased a new stake in Coupang during the 1st quarter valued at $40,000. Finally, Aster Capital Management DIFC Ltd bought a new stake in Coupang in the fourth quarter worth $42,000. Hedge funds and other institutional investors own 83.72% of the company’s stock.

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.