Coupang (NYSE:CPNG) Reaches New 52-Week High - Still a Buy?

Coupang, Inc. (NYSE:CPNG - Get Free Report)'s share price reached a new 52-week high on Thursday . The stock traded as high as $28.88 and last traded at $28.81, with a volume of 1804879 shares traded. The stock had previously closed at $28.35.

Analyst Upgrades and Downgrades

CPNG has been the subject of a number of analyst reports. Deutsche Bank Aktiengesellschaft raised Coupang from a "hold" rating to a "buy" rating and set a $28.50 price objective for the company in a research report on Wednesday, February 26th. Mizuho upgraded Coupang to a "hold" rating in a research note on Friday, April 18th. Finally, Barclays boosted their price target on Coupang from $35.00 to $36.00 and gave the stock an "overweight" rating in a research note on Thursday, May 8th. One analyst has rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $29.64.

Coupang Price Performance

The stock has a market capitalization of $51.67 billion, a PE ratio of 49.93, a PEG ratio of 52.20 and a beta of 1.15. The company has a quick ratio of 0.86, a current ratio of 1.13 and a debt-to-equity ratio of 0.28. The firm's fifty day moving average price is $24.37 and its two-hundred day moving average price is $23.73.

Coupang (NYSE:CPNG - Get Free Report) last announced its earnings results on Tuesday, May 6th. The company reported $0.06 earnings per share for the quarter, missing analysts' consensus estimates of $0.07 by ($0.01). The company had revenue of $7.91 billion for the quarter, compared to analysts' expectations of $8.02 billion. Coupang had a net margin of 3.57% and a return on equity of 11.52%. The company's revenue was up 11.2% on a year-over-year basis. On average, equities analysts predict that Coupang, Inc. will post 0.17 earnings per share for the current year.

Insider Activity at Coupang

In related news, Director Benjamin Sun sold 200,000 shares of the business's stock in a transaction on Wednesday, May 28th. The shares were sold at an average price of $28.36, for a total value of $5,672,000.00. Following the sale, the director now owns 1,319,421 shares in the company, valued at approximately $37,418,779.56. The trade was a 13.16% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, major shareholder Svf Investments (Uk) Ltd sold 30,000,000 shares of the company's stock in a transaction dated Thursday, May 8th. The shares were sold at an average price of $25.75, for a total transaction of $772,500,000.00. Following the sale, the insider now owns 319,542,259 shares in the company, valued at $8,228,213,169.25. This represents a 8.58% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 30,709,697 shares of company stock worth $791,138,311. 12.78% of the stock is owned by insiders.

Institutional Investors Weigh In On Coupang

Several institutional investors have recently made changes to their positions in the company. Price T Rowe Associates Inc. MD increased its position in shares of Coupang by 29.2% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 75,686,648 shares of the company's stock worth $1,663,594,000 after acquiring an additional 17,123,637 shares during the period. Dodge & Cox grew its position in Coupang by 101.6% during the 1st quarter. Dodge & Cox now owns 40,784,920 shares of the company's stock worth $894,413,000 after purchasing an additional 20,555,600 shares during the last quarter. FMR LLC boosted its position in Coupang by 9.1% in the fourth quarter. FMR LLC now owns 29,619,581 shares of the company's stock valued at $651,038,000 after buying an additional 2,465,973 shares during the last quarter. Durable Capital Partners LP boosted its stake in shares of Coupang by 13.6% in the fourth quarter. Durable Capital Partners LP now owns 28,636,287 shares of the company's stock worth $629,426,000 after buying an additional 3,420,133 shares during the last quarter. Finally, Dragoneer Investment Group LLC boosted its position in Coupang by 9.0% in the 4th quarter. Dragoneer Investment Group LLC now owns 20,541,277 shares of the company's stock worth $451,497,000 after purchasing an additional 1,690,826 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.