Coupang (NYSE:CPNG) Sets New 1-Year High - Here's What Happened

Coupang, Inc. (NYSE:CPNG - Get Free Report)'s stock price hit a new 52-week high during trading on Tuesday . The company traded as high as $29.12 and last traded at $29.10, with a volume of 5089365 shares traded. The stock had previously closed at $28.38.

Analysts Set New Price Targets

A number of brokerages have weighed in on CPNG. Barclays boosted their target price on shares of Coupang from $35.00 to $36.00 and gave the stock an "overweight" rating in a research note on Thursday, May 8th. Mizuho upgraded shares of Coupang to a "hold" rating in a research report on Friday, April 18th. Finally, Wall Street Zen raised Coupang from a "hold" rating to a "buy" rating in a report on Saturday, June 21st. One analyst has rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $30.08.

Coupang Stock Up 3.6%

The firm's 50-day simple moving average is $26.58 and its 200 day simple moving average is $24.15. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.90 and a current ratio of 1.16. The company has a market cap of $56.09 billion, a P/E ratio of 220.68 and a beta of 1.15.

Coupang (NYSE:CPNG - Get Free Report) last released its quarterly earnings data on Tuesday, May 6th. The company reported $0.06 EPS for the quarter, missing analysts' consensus estimates of $0.07 by ($0.01). Coupang had a net margin of 0.82% and a return on equity of 10.07%. The company had revenue of $7.91 billion during the quarter, compared to the consensus estimate of $8.02 billion. The company's revenue was up 11.2% compared to the same quarter last year. On average, research analysts forecast that Coupang, Inc. will post 0.17 earnings per share for the current fiscal year.

Insider Activity

In other news, Director Benjamin Sun sold 200,000 shares of the firm's stock in a transaction dated Wednesday, May 28th. The stock was sold at an average price of $28.36, for a total transaction of $5,672,000.00. Following the sale, the director now owns 1,319,421 shares of the company's stock, valued at $37,418,779.56. This trade represents a 13.16% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, major shareholder Svf Investments (Uk) Ltd sold 10,000,000 shares of the business's stock in a transaction that occurred on Friday, June 13th. The shares were sold at an average price of $28.25, for a total value of $282,500,000.00. Following the completion of the transaction, the insider now owns 309,542,259 shares of the company's stock, valued at $8,744,568,816.75. This represents a 3.13% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 40,459,697 shares of company stock valued at $1,067,780,811 in the last ninety days. 12.78% of the stock is owned by insiders.

Institutional Investors Weigh In On Coupang

Large investors have recently made changes to their positions in the stock. SVB Wealth LLC acquired a new position in Coupang in the 1st quarter worth $28,000. Bank Julius Baer & Co. Ltd Zurich bought a new stake in shares of Coupang in the first quarter valued at about $30,000. Grove Bank & Trust acquired a new position in shares of Coupang during the first quarter worth about $33,000. Brooklyn Investment Group boosted its position in shares of Coupang by 43.1% during the first quarter. Brooklyn Investment Group now owns 1,680 shares of the company's stock worth $37,000 after buying an additional 506 shares during the period. Finally, Itau Unibanco Holding S.A. grew its holdings in shares of 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. Institutional investors own 83.72% of the company's stock.

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.