Pranam Kolari Sells 2,048 Shares of Coupang, Inc. (NYSE:CPNG) Stock

Coupang, Inc. (NYSE:CPNG) insider Pranam Kolari sold 2,048 shares of the company’s stock in a transaction dated Thursday, May 2nd. The shares were sold at an average price of $22.34, for a total value of $45,752.32. Following the completion of the sale, the insider now directly owns 187,951 shares of the company’s stock, valued at $4,198,825.34. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website.

Coupang Price Performance

Coupang stock opened at $23.00 on Friday. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.90 and a current ratio of 1.14. Coupang, Inc. has a one year low of $13.51 and a one year high of $23.40. The company has a market cap of $41.25 billion, a P/E ratio of 30.67 and a beta of 1.13. The business has a fifty day moving average of $19.65 and a two-hundred day moving average of $17.17.

Coupang (NYSE:CPNG) last released its quarterly earnings results on Tuesday, February 27th. The company reported $0.08 earnings per share for the quarter, topping analysts’ consensus estimates of $0.05 by $0.03. The business had revenue of $6.56 billion for the quarter, compared to analysts’ expectations of $6.40 billion. Coupang had a return on equity of 15.04% and a net margin of 5.57%. The company’s revenue was up 23.2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.06 EPS. As a group, analysts predict that Coupang, Inc. will post 0.34 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the company. WCM Investment Management LLC grew its stake in Coupang by 2,250.9% in the 1st quarter. WCM Investment Management LLC now owns 44,926,485 shares of the company’s stock valued at $799,242,000 after acquiring an additional 43,015,433 shares during the last quarter. Baillie Gifford & Co. grew its position in shares of Coupang by 21.6% in the fourth quarter. Baillie Gifford & Co. now owns 145,524,128 shares of the company’s stock valued at $2,356,036,000 after purchasing an additional 25,843,034 shares during the last quarter. Norges Bank purchased a new position in shares of Coupang during the 4th quarter worth approximately $250,714,000. Pacer Advisors Inc. raised its position in shares of Coupang by 104,032.2% during the 4th quarter. Pacer Advisors Inc. now owns 10,944,299 shares of the company’s stock worth $177,188,000 after purchasing an additional 10,933,789 shares during the last quarter. Finally, Assenagon Asset Management S.A. raised its position in shares of Coupang by 217.1% during the 1st quarter. Assenagon Asset Management S.A. now owns 2,909,546 shares of the company’s stock worth $51,761,000 after purchasing an additional 1,992,092 shares during the last quarter. Hedge funds and other institutional investors own 83.72% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on CPNG shares. Barclays increased their price objective on Coupang from $24.00 to $25.00 and gave the company an “overweight” rating in a report on Thursday, February 29th. Citigroup raised Coupang from a “neutral” rating to a “buy” rating and raised their price target for the stock from $19.00 to $26.00 in a report on Monday, April 15th. TheStreet raised Coupang from a “d+” rating to a “c-” rating in a report on Tuesday, March 5th. Deutsche Bank Aktiengesellschaft raised Coupang from a “hold” rating to a “buy” rating and increased their price target for the stock from $18.50 to $21.00 in a report on Thursday, February 29th. Finally, Bank of America assumed coverage on shares of Coupang in a research note on Friday. They issued a “buy” rating and a $30.00 price objective on the stock. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $23.75.

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.