Coupang (NYSE:CPNG) Director Benjamin Sun Sells 815,797 Shares

Key Points

• Benjamin Sun, Director of Coupang, sold 815,797 shares at an average price of $31.88, reducing his ownership by 61.83% and leaving him with 503,624 shares valued at approximately $16 million.
• Coupang's stock is currently trading at $32.12, experiencing a decrease of 0.6% amid significant trading volume, showcasing a market capitalization of $58.56 billion.
• The company reported a net margin of 1.13% and revenue of $8.52 billion for the last quarter, a 16.4% increase from the previous year, despite missing EPS estimates.

Coupang, Inc. (NYSE:CPNG - Get Free Report) Director Benjamin Sun sold 815,797 shares of the stock in a transaction on Tuesday, September 9th. The shares were sold at an average price of $31.88, for a total transaction of $26,007,608.36. Following the sale, the director directly owned 503,624 shares of the company's stock, valued at $16,055,533.12. The trade was a 61.83% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

Coupang Trading Down 0.6%

CPNG traded down $0.21 during trading on Wednesday, hitting $32.12. 20,157,799 shares of the stock traded hands, compared to its average volume of 9,743,376. The firm has a market capitalization of $58.56 billion, a P/E ratio of 160.63 and a beta of 1.15. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.09 and a quick ratio of 0.84. The firm has a 50-day moving average of $29.49 and a 200 day moving average of $26.50. Coupang, Inc. has a 12-month low of $19.02 and a 12-month high of $32.89.

Coupang (NYSE:CPNG - Get Free Report) last issued its quarterly earnings data on Tuesday, August 5th. The company reported $0.02 EPS for the quarter, missing the consensus estimate of $0.07 by ($0.05). Coupang had a return on equity of 7.47% and a net margin of 1.13%.The company had revenue of $8.52 billion during the quarter, compared to the consensus estimate of $8.34 billion. During the same quarter last year, the company posted $0.07 earnings per share. The firm's revenue for the quarter was up 16.4% compared to the same quarter last year. Equities research analysts anticipate that Coupang, Inc. will post 0.17 EPS for the current year.

Wall Street Analyst Weigh In

CPNG has been the subject of several research reports. Morgan Stanley upped their price objective on shares of Coupang from $32.00 to $35.00 and gave the stock an "overweight" rating in a report on Wednesday, August 20th. Deutsche Bank Aktiengesellschaft lowered shares of Coupang from a "buy" rating to a "hold" rating and set a $27.00 price objective for the company. in a report on Wednesday, August 6th. Nomura upgraded shares of Coupang from a "neutral" rating to a "buy" rating and set a $35.00 price objective for the company in a report on Wednesday, August 6th. Wall Street Zen lowered shares of Coupang from a "buy" rating to a "hold" rating in a research note on Sunday, July 20th. Finally, Nomura Securities upgraded shares of Coupang to a "strong-buy" rating in a research note on Wednesday, August 6th. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and two have given a Hold rating to the company's stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $31.14.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the business. Albion Financial Group UT bought a new stake in Coupang during the 2nd quarter valued at about $30,000. SVB Wealth LLC bought a new stake in Coupang during the 1st quarter valued at about $28,000. Bank Julius Baer & Co. Ltd Zurich bought a new stake in Coupang during the 1st quarter valued at about $30,000. Loomis Sayles & Co. L P bought a new stake in Coupang during the 2nd quarter valued at about $45,000. Finally, Grove Bank & Trust bought a new stake in Coupang during the 1st quarter valued at about $33,000. 83.72% of the stock is currently owned by institutional investors.

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.

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