Coupang (NYSE:CPNG) Sets New 12-Month High - Time to Buy?

Coupang, Inc. (NYSE:CPNG - Get Free Report)'s share price hit a new 52-week high during mid-day trading on Tuesday . The company traded as high as $31.25 and last traded at $31.05, with a volume of 2321418 shares changing hands. The stock had previously closed at $30.61.

Analyst Upgrades and Downgrades

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

Coupang Stock Up 1.5%

The company's 50 day simple moving average is $28.33 and its 200-day simple moving average is $24.75. The company has a current ratio of 1.16, a quick ratio of 0.90 and a debt-to-equity ratio of 0.23. The firm has a market cap of $56.40 billion, a P/E ratio of 222.01 and a beta of 1.16.

Coupang (NYSE:CPNG - Get Free Report) last released its 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). Coupang had a return on equity of 10.07% and a net margin of 0.82%. The firm had revenue of $7.91 billion during the quarter, compared to analysts' expectations of $8.02 billion. Coupang's revenue for the quarter was up 11.2% on a year-over-year basis. Research analysts forecast that Coupang, Inc. will post 0.17 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, VP Pranam Kolari sold 9,347 shares of Coupang stock in a transaction on Friday, May 2nd. The stock was sold at an average price of $23.85, for a total transaction of $222,925.95. Following the completion of the sale, the vice president directly owned 177,106 shares in the company, valued at approximately $4,223,978.10. This trade represents a 5.01% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Benjamin Sun sold 200,000 shares of the firm'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 transaction, the director owned 1,319,421 shares in the company, valued at approximately $37,418,779.56. This represents a 13.16% decrease in their position. The disclosure for this sale can be found here. Insiders sold 40,459,697 shares of company stock valued at $1,067,780,811 over the last 90 days. 12.78% of the stock is currently owned by insiders.

Institutional Trading of Coupang

Several large investors have recently added to or reduced their stakes in CPNG. Davidson Kahn Capital Management LLC grew its stake in Coupang by 31.6% during the 1st quarter. Davidson Kahn Capital Management LLC now owns 103,567 shares of the company's stock worth $2,271,000 after buying an additional 24,877 shares during the last quarter. Allspring Global Investments Holdings LLC boosted its stake in shares of Coupang by 40.1% in the first quarter. Allspring Global Investments Holdings LLC now owns 305,512 shares of the company's stock valued at $6,776,000 after buying an additional 87,412 shares in the last quarter. Deutsche Bank AG boosted its stake in shares of Coupang by 25.7% in the fourth quarter. Deutsche Bank AG now owns 90,833 shares of the company's stock valued at $1,997,000 after buying an additional 18,593 shares in the last quarter. Vontobel Holding Ltd. purchased a new stake in shares of Coupang in the first quarter valued at approximately $241,000. Finally, Point72 Hong Kong Ltd purchased a new stake in Coupang during the fourth quarter worth $1,394,000. 83.72% of the stock is currently owned by hedge funds and other institutional investors.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.