Benjamin Sun Sells 250,000 Shares of Coupang, Inc. (NYSE:CPNG) Stock

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

Coupang Trading Up 0.2 %

Shares of CPNG stock opened at $23.36 on Friday. Coupang, Inc. has a 1 year low of $17.34 and a 1 year high of $26.91. The firm’s fifty day simple moving average is $23.40 and its 200 day simple moving average is $23.92. The firm has a market capitalization of $42.17 billion, a P/E ratio of 40.97, a price-to-earnings-growth ratio of 52.20 and a beta of 1.10. The company has a current ratio of 1.13, a quick ratio of 0.86 and a debt-to-equity ratio of 0.28.

Hedge Funds Weigh In On Coupang

Institutional investors and hedge funds have recently bought and sold shares of the stock. Brooklyn Investment Group bought a new position in Coupang during the third quarter worth $28,000. Wingate Wealth Advisors Inc. bought a new position in Coupang during the fourth quarter worth $26,000. Berbice Capital Management LLC acquired a new stake in Coupang during the fourth quarter worth $31,000. Itau Unibanco Holding S.A. boosted its stake 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 in the last quarter. Finally, Allworth Financial LP boosted its stake 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 in the last quarter. Institutional investors own 83.72% of the company’s stock.

Analysts Set New Price Targets

CPNG has been the subject of a number of analyst reports. Mizuho lifted their target price on shares of Coupang from $25.00 to $27.00 and gave the company a “neutral” rating in a research note on Wednesday, February 26th. Citigroup reduced their target price on shares of Coupang from $31.00 to $28.00 and set a “buy” rating for the company in a research note on Wednesday, January 8th. Barclays set a $35.00 price target on shares of Coupang and gave the company an “overweight” rating in a research report on Thursday, February 27th. Finally, Deutsche Bank Aktiengesellschaft raised shares of Coupang from a “hold” rating to a “buy” rating and set a $28.50 price target on the stock in a research report on Wednesday, February 26th. One equities research analyst has rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $29.17.

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.