Coupang (NYSE:CPNG) CAO Sells $75,334.35 in Stock

Coupang, Inc. (NYSE:CPNG) CAO Jonathan Lee sold 5,519 shares of Coupang stock in a transaction dated Friday, October 2nd. The stock was sold at an average price of $13.65, for a total value of $75,334.35. Following the transaction, the chief accounting officer owned 176,396 shares in the company, valued at approximately $2,407,805.40. This represents a 3.03% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Coupang Stock Up 2.6%

NYSE:CPNG opened at $14.80 on Thursday. Coupang, Inc. has a 1 year low of $13.35 and a 1 year high of $32.70. The stock has a 50-day moving average price of $15.38 and a two-hundred day moving average price of $16.99. The stock has a market cap of $26.61 billion, a price-to-earnings ratio of -34.42 and a beta of 1.17. The company has a current ratio of 0.87, a quick ratio of 0.68 and a debt-to-equity ratio of 0.21.

Coupang (NYSE:CPNG) last released its quarterly earnings results on Tuesday, August 4th. The company reported ($0.09) EPS for the quarter, topping analysts’ consensus estimates of ($0.27) by $0.18. Coupang had a negative return on equity of 8.77% and a negative net margin of 2.16%.The company had revenue of $8.86 billion for the quarter, compared to analyst estimates of $8.92 billion. During the same quarter last year, the firm posted $0.02 earnings per share. Coupang’s revenue was up 3.9% compared to the same quarter last year. As a group, equities analysts expect that Coupang, Inc. will post -0.46 earnings per share for the current year.

Wall Street Analyst Weigh In

CPNG has been the subject of several research analyst reports. Mizuho set a $22.00 price target on shares of Coupang in a report on Wednesday, August 5th. CLSA initiated coverage on shares of Coupang in a research report on Monday, June 15th. They issued an “outperform” rating and a $24.00 price objective on the stock. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Coupang in a research note on Tuesday, August 4th. The Goldman Sachs Group set a $31.00 target price on Coupang in a report on Thursday, July 9th. Finally, Bank of America cut their price target on Coupang from $27.00 to $24.00 and set a “buy” rating on the stock in a report on Wednesday, August 5th. Five research analysts have rated the stock with a Buy rating, four have given a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $24.06.

Institutional Trading of Coupang

Several institutional investors and hedge funds have recently added to or reduced their stakes in CPNG. Capital International Investors grew its position in shares of Coupang by 20.4% in the 4th quarter. Capital International Investors now owns 41,131,036 shares of the company’s stock valued at $970,340,000 after acquiring an additional 6,977,942 shares during the period. Tiger Global Management LLC lifted its stake in Coupang by 31.7% in the 1st quarter. Tiger Global Management LLC now owns 34,595,407 shares of the company’s stock valued at $653,161,000 after purchasing an additional 8,328,148 shares during the last quarter. Dragoneer Investment Group LLC lifted its stake in Coupang by 47.1% in the 4th quarter. Dragoneer Investment Group LLC now owns 21,576,556 shares of the company’s stock valued at $508,991,000 after purchasing an additional 6,910,865 shares during the last quarter. Altimeter Capital Management LP grew its holdings in Coupang by 56.4% during the fourth quarter. Altimeter Capital Management LP now owns 15,676,794 shares of the company’s stock worth $369,816,000 after purchasing an additional 5,652,210 shares during the period. Finally, Assenagon Asset Management S.A. grew its holdings in Coupang by 1,394.1% during the first quarter. Assenagon Asset Management S.A. now owns 17,117,583 shares of the company’s stock worth $323,180,000 after purchasing an additional 15,971,942 shares during the period. 83.72% of the stock is owned by institutional investors.

About Coupang

Coupang, Inc is an e-commerce and technology company that operates primarily in South Korea and Taiwan. The company connects consumers with a broad selection of merchandise, including groceries, household goods, electronics, apparel, beauty products and other everyday items. Its services are supported by an integrated logistics network designed to provide fast delivery and a convenient online shopping experience.

Coupang’s offerings include its Rocket Delivery and Rocket Fresh services, which provide rapid delivery of general merchandise and groceries, respectively.