Coupang, Inc. (NYSE:CPNG) Director Sells $5,857,500.00 in Stock

Coupang, Inc. (NYSE:CPNG) Director Benjamin Sun sold 250,000 shares of the firm’s stock in a transaction on Monday, March 17th. The stock was sold at an average price of $23.43, for a total value of $5,857,500.00. Following the completion of the transaction, the director now directly owns 1,719,421 shares of the company’s stock, valued at approximately $40,286,034.03. This trade represents a 12.69 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

Coupang Price Performance

Shares of NYSE:CPNG traded up $0.68 during midday trading on Wednesday, reaching $23.54. The company’s stock had a trading volume of 5,411,169 shares, compared to its average volume of 8,377,040. The business’s fifty day simple moving average is $23.34 and its 200-day simple moving average is $23.91. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.13 and a quick ratio of 0.86. The company has a market capitalization of $42.50 billion, a P/E ratio of 41.30, a P/E/G ratio of 52.20 and a beta of 1.10. Coupang, Inc. has a fifty-two week low of $17.34 and a fifty-two week high of $26.91.

Institutional Trading of Coupang

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in CPNG. Wingate Wealth Advisors Inc. acquired a new stake in Coupang in the fourth quarter worth about $26,000. Brooklyn Investment Group bought a new position in Coupang during the third quarter worth about $28,000. Berbice Capital Management LLC bought a new position in Coupang during the fourth quarter worth about $31,000. Itau Unibanco Holding S.A. boosted its holdings in Coupang by 520.6% during the fourth quarter. Itau Unibanco Holding S.A. now owns 1,955 shares of the company’s stock worth $43,000 after buying an additional 1,640 shares during the last quarter. Finally, Allworth Financial LP boosted its holdings in Coupang by 11,033.3% during the fourth quarter. Allworth Financial LP now owns 2,004 shares of the company’s stock worth $45,000 after buying an additional 1,986 shares during the last quarter. 83.72% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts have issued reports on the company. Mizuho increased their price objective on Coupang from $25.00 to $27.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 26th. Citigroup dropped their price objective on Coupang from $31.00 to $28.00 and set a “buy” rating for the company in a research note on Wednesday, January 8th. Deutsche Bank Aktiengesellschaft upgraded Coupang from a “hold” rating to a “buy” rating and set a $28.50 price objective for the company in a research note on Wednesday, February 26th. Finally, Barclays set a $35.00 price objective on Coupang and gave the stock an “overweight” rating in a research note on Thursday, February 27th. One analyst has rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $29.17.

About Coupang

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.