Benjamin Sun Sells 700,000 Shares of Coupang, Inc. (NYSE:CPNG) Stock

Coupang, Inc. (NYSE:CPNG) Director Benjamin Sun sold 700,000 shares of the company’s stock in a transaction dated Monday, June 17th. The stock was sold at an average price of $20.63, for a total value of $14,441,000.00. Following the transaction, the director now directly owns 2,169,421 shares of the company’s stock, valued at $44,755,155.23. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

Coupang Price Performance

NYSE:CPNG opened at $20.39 on Wednesday. The company has a quick ratio of 0.89, a current ratio of 1.15 and a debt-to-equity ratio of 0.67. The stock’s 50 day moving average price is $22.22 and its two-hundred day moving average price is $18.49. The firm has a market capitalization of $36.46 billion, a price-to-earnings ratio of 29.13, a P/E/G ratio of 8.79 and a beta of 1.12. Coupang, Inc. has a 12-month low of $13.51 and a 12-month high of $23.77.

Coupang (NYSE:CPNG) last released its quarterly earnings data on Tuesday, May 7th. The company reported $0.05 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.06 by ($0.01). The business had revenue of $7.11 billion during the quarter, compared to the consensus estimate of $6.95 billion. Coupang had a net margin of 4.96% and a return on equity of 13.59%. Coupang’s quarterly revenue was up 22.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.05 EPS. On average, analysts anticipate that Coupang, Inc. will post 0.13 earnings per share for the current year.

Analyst Ratings Changes

CPNG has been the subject of several recent research reports. Bank of America initiated coverage on Coupang in a research report on Friday, May 3rd. They set a “buy” rating and a $30.00 price objective for the company. Mizuho increased their price target on Coupang from $20.00 to $23.00 and gave the company a “neutral” rating in a research report on Wednesday, May 8th. Barclays increased their price target on Coupang from $25.00 to $32.00 and gave the company an “overweight” rating in a research report on Thursday, May 9th. TheStreet raised Coupang from a “d+” rating to a “c-” rating in a research report on Tuesday, March 5th. Finally, UBS Group raised Coupang from a “neutral” rating to a “buy” rating and increased their price target for the company from $18.50 to $26.00 in a research report on Thursday, May 16th. One analyst has rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $26.67.

Hedge Funds Weigh In On Coupang

A number of large investors have recently made changes to their positions in CPNG. Pathstone Family Office LLC bought a new position in shares of Coupang during the third quarter worth approximately $413,000. PNC Financial Services Group Inc. grew its position in Coupang by 3.3% during the third quarter. PNC Financial Services Group Inc. now owns 50,873 shares of the company’s stock worth $865,000 after buying an additional 1,611 shares in the last quarter. FMR LLC grew its position in Coupang by 2.0% during the third quarter. FMR LLC now owns 19,836,006 shares of the company’s stock worth $337,212,000 after buying an additional 381,964 shares in the last quarter. Invesco Ltd. grew its position in Coupang by 61.1% during the third quarter. Invesco Ltd. now owns 921,619 shares of the company’s stock worth $15,668,000 after buying an additional 349,602 shares in the last quarter. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. grew its position in Coupang by 14.8% during the third quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 22,501 shares of the company’s stock worth $383,000 after buying an additional 2,908 shares in the last quarter. Institutional investors own 83.72% of the company’s stock.

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.