Coupang (NYSE:CPNG) Hits New 1-Year High – Here’s Why

Coupang, Inc. (NYSE:CPNG)’s stock price hit a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $26.44 and last traded at $26.26, with a volume of 1455283 shares. The stock had previously closed at $26.00.

Analyst Ratings Changes

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

Coupang Stock Up 0.3 %

The firm has a 50 day moving average of $24.21 and a two-hundred day moving average of $22.66. The stock has a market capitalization of $46.78 billion, a PE ratio of 45.05, a P/E/G ratio of 282.07 and a beta of 1.11. The company has a current ratio of 1.12, a quick ratio of 0.87 and a debt-to-equity ratio of 0.72.

Coupang (NYSE:CPNG) last posted its quarterly earnings data on Tuesday, August 6th. The company reported $0.07 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.01) by $0.08. Coupang had a return on equity of 12.04% and a net margin of 3.87%. The business had revenue of $7.32 billion for the quarter, compared to analysts’ expectations of $7.39 billion. During the same quarter last year, the firm earned $0.08 earnings per share. The business’s revenue was up 25.4% on a year-over-year basis. Equities research analysts anticipate that Coupang, Inc. will post 0.09 earnings per share for the current year.

Insider Transactions at Coupang

In other news, insider Pranam Kolari sold 10,432 shares of the business’s stock in a transaction that occurred on Friday, August 2nd. The stock was sold at an average price of $19.90, for a total value of $207,596.80. Following the completion of the sale, the insider now directly owns 170,356 shares in the company, valued at approximately $3,390,084.40. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, Director Greenoaks Capital Partners Llc bought 150,000 shares of the business’s stock in a transaction dated Friday, August 9th. The shares were bought at an average cost of $22.64 per share, with a total value of $3,396,000.00. Following the completion of the transaction, the director now directly owns 49,874,924 shares of the company’s stock, valued at approximately $1,129,168,279.36. This trade represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Pranam Kolari sold 10,432 shares of the company’s stock in a transaction on Friday, August 2nd. The shares were sold at an average price of $19.90, for a total value of $207,596.80. Following the transaction, the insider now directly owns 170,356 shares in the company, valued at $3,390,084.40. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have acquired 601,300 shares of company stock valued at $13,604,354 and have sold 411,388 shares valued at $9,452,761. Corporate insiders own 13.60% of the company’s stock.

Institutional Trading of Coupang

Several large investors have recently made changes to their positions in the stock. Bleakley Financial Group LLC raised its holdings in shares of Coupang by 17.9% in the 1st quarter. Bleakley Financial Group LLC now owns 17,880 shares of the company’s stock worth $318,000 after buying an additional 2,710 shares in the last quarter. Handelsbanken Fonder AB boosted its position in shares of Coupang by 2.9% in the 3rd quarter. Handelsbanken Fonder AB now owns 884,144 shares of the company’s stock worth $21,706,000 after purchasing an additional 24,553 shares during the last quarter. Mitsubishi UFJ Trust & Banking Corp raised its stake in Coupang by 5.2% during the 1st quarter. Mitsubishi UFJ Trust & Banking Corp now owns 2,237,250 shares of the company’s stock worth $39,801,000 after buying an additional 110,700 shares during the period. Assenagon Asset Management S.A. raised its stake in Coupang by 55.5% during the 2nd quarter. Assenagon Asset Management S.A. now owns 4,524,994 shares of the company’s stock worth $94,799,000 after buying an additional 1,615,448 shares during the period. Finally, GSA Capital Partners LLP raised its stake in Coupang by 767.9% during the 1st quarter. GSA Capital Partners LLP now owns 108,990 shares of the company’s stock worth $1,939,000 after buying an additional 96,432 shares during the period. 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.