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

Shares of Coupang, Inc. (NYSE:CPNG - Get Free Report) hit a new 52-week high during mid-day 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.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on CPNG. Barclays boosted their price target on shares of Coupang from $35.00 to $36.00 and gave the stock an "overweight" rating in a report on Thursday, May 8th. Wall Street Zen raised shares of Coupang from a "hold" rating to a "buy" rating in a report on Saturday. Mizuho raised Coupang to a "hold" rating in a report on Friday, April 18th. Finally, Deutsche Bank Aktiengesellschaft raised shares of Coupang from a "hold" rating to a "buy" rating and set a $28.50 target price on the stock in a research note on Wednesday, February 26th. One research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company's stock. Based on data from MarketBeat, Coupang has an average rating of "Moderate Buy" and a consensus target price of $29.64.

Coupang Stock Performance

The business's 50-day moving average is $26.11 and its 200 day moving average is $24.04. 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 $52.53 billion, a PE ratio of 206.67 and a beta of 1.15.

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

Insider Transactions at Coupang

In related news, VP Pranam Kolari sold 9,347 shares of the company's stock in a transaction dated Friday, May 2nd. The shares were sold at an average price of $23.85, for a total value of $222,925.95. Following the transaction, the vice president now owns 177,106 shares in the company, valued at $4,223,978.10. The trade was a 5.01% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, major shareholder Svf Investments (Uk) Ltd sold 30,000,000 shares of the business's stock in a transaction on Thursday, May 8th. The stock was sold at an average price of $25.75, for a total value of $772,500,000.00. Following the completion of the transaction, the insider now owns 319,542,259 shares of the company's stock, valued at $8,228,213,169.25. This represents a 8.58% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 40,459,697 shares of company stock worth $1,067,780,811. 12.78% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Coupang

A number of institutional investors and hedge funds have recently added to or reduced their stakes in CPNG. Thoroughbred Financial Services LLC increased its position in Coupang by 1.4% during the first quarter. Thoroughbred Financial Services LLC now owns 29,486 shares of the company's stock valued at $646,000 after acquiring an additional 408 shares during the last quarter. California State Teachers Retirement System increased its position in shares of Coupang by 0.5% during the fourth quarter. California State Teachers Retirement System now owns 85,489 shares of the company's stock worth $1,879,000 after acquiring an additional 445 shares during the period. Virtus ETF Advisers LLC raised its stake in shares of Coupang by 1.1% during the fourth quarter. Virtus ETF Advisers LLC now owns 44,341 shares of the company's stock valued at $975,000 after acquiring an additional 466 shares in the last quarter. IFP Advisors Inc increased its holdings in Coupang by 3.8% during the 4th quarter. IFP Advisors Inc now owns 12,734 shares of the company's stock worth $280,000 after purchasing an additional 469 shares during the period. Finally, Resonant Capital Advisors LLC raised its position in Coupang by 4.2% during the 1st quarter. Resonant Capital Advisors LLC now owns 11,768 shares of the company's stock valued at $258,000 after purchasing an additional 476 shares in the last quarter. 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.

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