Coupang (NYSE:CPNG) CAO Sells 5,519 Shares of Stock

Key Points

• Coupang CAO Jonathan Lee sold 5,519 shares at an average price of $16.10, generating approximately $88,856. The transaction was made under a pre-arranged Rule 10b5-1 trading plan and reduced his direct holdings by 2.94%.
• Coupang shares rose 2.1% to $16.53 during Tuesday trading, while the stock remained below its 50-day and 200-day moving averages and well below its 52-week high of $34.08.
• Analyst sentiment is mixed: six analysts rate Coupang a Buy, four Hold, and two Sell, with a consensus rating of Hold and an average price target of $25.39. Institutional investors own approximately 83.72% of the company.

Coupang, Inc. (NYSE:CPNG - Get Free Report) CAO Jonathan Lee sold 5,519 shares of the company's stock in a transaction that occurred on Monday, August 10th. The shares were sold at an average price of $16.10, for a total value of $88,855.90. Following the transaction, the chief accounting officer directly owned 181,915 shares of the company's stock, valued at $2,928,831.50. The trade was a 2.94% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Coupang Trading Up 2.1%

Shares of CPNG traded up $0.34 during mid-day trading on Tuesday, hitting $16.53. 20,180,480 shares of the company's stock traded hands, compared to its average volume of 23,460,725. The company has a quick ratio of 0.68, a current ratio of 0.87 and a debt-to-equity ratio of 0.21. The firm has a market capitalization of $29.68 billion, a P/E ratio of -38.45 and a beta of 1.13. The business's 50-day moving average price is $17.00 and its 200-day moving average price is $18.10. Coupang, Inc. has a 1 year low of $14.92 and a 1 year high of $34.08.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on CPNG. The Goldman Sachs Group set a $31.00 target price on Coupang in a report on Thursday, July 9th. Bank of America lowered their price objective on Coupang from $27.00 to $24.00 and set a "buy" rating for the company in a research report on Wednesday, August 5th. Mizuho set a $22.00 target price on shares of Coupang in a research report on Wednesday, August 5th. Deutsche Bank Aktiengesellschaft raised shares of Coupang from a "hold" rating to a "buy" rating and dropped their price objective for the stock from $23.00 to $21.50 in a research note on Wednesday, August 5th. Finally, CLSA began coverage on shares of Coupang in a report on Monday, June 15th. They set an "outperform" rating and a $24.00 target price for the company. Six equities research analysts have rated the stock with a Buy rating, four have given a Hold rating and two have assigned a Sell rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Hold" and a consensus price target of $25.39.

Hedge Funds Weigh In On Coupang

Large investors have recently modified their holdings of the stock. Sunbelt Securities Inc. bought a new position in shares of Coupang in the third quarter worth approximately $26,000. Reflection Asset Management purchased a new stake in Coupang during the 4th quarter valued at $28,000. Webster Bank N. A. increased its holdings in shares of Coupang by 325.8% in the 1st quarter. Webster Bank N. A. now owns 1,699 shares of the company's stock worth $32,000 after purchasing an additional 1,300 shares in the last quarter. Main Street Group LTD purchased a new position in shares of Coupang in the first quarter worth $40,000. Finally, Aster Capital Management DIFC Ltd purchased a new position in shares of Coupang in the fourth quarter worth $42,000. Hedge funds and other institutional investors own 83.72% of the company's stock.

Coupang Company Profile

Coupang, listed on the New York Stock Exchange under the ticker CPNG, is a South Korean e-commerce company headquartered in Seoul. Founded in 2010 by Bom Kim, the company grew rapidly by combining an online marketplace with a large direct-retail business model. Coupang completed a primary listing in the United States in 2021, and it has become one of South Korea's leading online retailers by focusing on convenience, speed and a wide product assortment across consumer categories.

The company operates a vertically integrated e-commerce platform that includes a customer-facing marketplace and an extensive logistics and fulfillment network.

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