Coupang (NYSE:CPNG) Shares Gap Down – Here’s What Happened

Shares of Coupang, Inc. (NYSE:CPNG) gapped down before the market opened on Wednesday . The stock had previously closed at $26.89, but opened at $24.00. Coupang shares last traded at $24.15, with a volume of 3,670,826 shares.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on CPNG. CLSA upgraded shares of Coupang from a “hold” rating to an “outperform” rating and upped their price target for the company from $18.00 to $31.00 in a report on Wednesday, September 4th. Sanford C. Bernstein raised shares of Coupang from an “underperform” rating to an “outperform” rating and set a $30.00 target price for the company in a research note on Monday, October 7th. One analyst has rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $27.56.

Coupang Trading Down 10.7 %

The company has a debt-to-equity ratio of 0.72, a current ratio of 1.12 and a quick ratio of 0.87. The business’s 50-day moving average is $24.53 and its two-hundred day moving average is $22.79. The firm has a market cap of $43.06 billion, a P/E ratio of 41.38 and a beta of 1.10.

Coupang (NYSE:CPNG) last posted its quarterly earnings data on Tuesday, November 5th. The company reported $0.06 EPS for the quarter, topping analysts’ consensus estimates of $0.01 by $0.05. The company had revenue of $7.87 billion during the quarter, compared to the consensus estimate of $7.76 billion. Coupang had a net margin of 3.87% and a return on equity of 12.04%. The company’s quarterly revenue was up 27.2% on a year-over-year basis. During the same period in the prior year, the business posted $0.05 EPS. As a group, analysts predict that Coupang, Inc. will post -0.03 earnings per share for the current fiscal year.

Insider Buying and Selling at Coupang

In related news, Director Greenoaks Capital Partners Llc acquired 100,000 shares of the company’s stock in a transaction dated Wednesday, August 21st. The shares were bought at an average price of $22.95 per share, for a total transaction of $2,295,000.00. Following the purchase, the director now directly owns 50,476,224 shares in the company, valued at approximately $1,158,429,340.80. This trade represents a 0.00 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, Director Benjamin Sun sold 200,000 shares of Coupang stock in a transaction dated Monday, August 19th. The stock was sold at an average price of $23.36, for a total transaction of $4,672,000.00. Following the completion of the transaction, the director now owns 1,969,421 shares in the company, valued at approximately $46,005,674.56. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Greenoaks Capital Partners Llc purchased 100,000 shares of the stock in a transaction on Wednesday, August 21st. The shares were acquired at an average cost of $22.95 per share, for a total transaction of $2,295,000.00. Following the transaction, the director now owns 50,476,224 shares of the company’s stock, valued at approximately $1,158,429,340.80. The trade was a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last ninety days, insiders purchased 601,300 shares of company stock worth $13,604,354 and sold 400,956 shares worth $9,245,164. Corporate insiders own 13.60% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. Van ECK Associates Corp lifted its holdings in Coupang by 63.1% during the 3rd quarter. Van ECK Associates Corp now owns 1,251 shares of the company’s stock valued at $32,000 after purchasing an additional 484 shares during the last quarter. Baader Bank Aktiengesellschaft lifted its stake in shares of Coupang by 5.7% during the 2nd quarter. Baader Bank Aktiengesellschaft now owns 10,567 shares of the company’s stock worth $219,000 after buying an additional 567 shares during the last quarter. Covestor Ltd boosted its holdings in shares of Coupang by 10.4% during the 3rd quarter. Covestor Ltd now owns 6,479 shares of the company’s stock worth $159,000 after buying an additional 612 shares during the period. Resonant Capital Advisors LLC grew its stake in Coupang by 6.0% in the 2nd quarter. Resonant Capital Advisors LLC now owns 11,197 shares of the company’s stock valued at $235,000 after buying an additional 635 shares during the last quarter. Finally, National Bank of Canada FI raised its holdings in Coupang by 15.4% in the 2nd quarter. National Bank of Canada FI now owns 6,687 shares of the company’s stock valued at $141,000 after acquiring an additional 890 shares during the period. 83.72% of the stock is currently owned by institutional investors.

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.