Gaurav Anand Sells 75,350 Shares of Coupang, Inc. (NYSE:CPNG) Stock

Key Points

• Gaurav Anand, the CFO of Coupang, sold 75,350 shares of stock at an average price of $27.79, totaling approximately $2.09 million, resulting in a 3.60% decrease in his ownership.
• Coupang's stock experienced a 1.8% increase on the trading day following Anand's sale, reaching $28.18 with a market cap of $51.16 billion.
• Despite reporting $0.02 earnings per share (EPS) for the quarter, Coupang's revenue increased 16.4% year-over-year to $8.52 billion, surpassing analyst expectations.

Coupang, Inc. (NYSE:CPNG - Get Free Report) CFO Gaurav Anand sold 75,350 shares of the company's stock in a transaction on Monday, August 11th. The stock was sold at an average price of $27.79, for a total transaction of $2,093,976.50. Following the sale, the chief financial officer directly owned 2,016,940 shares of the company's stock, valued at approximately $56,050,762.60. This represents a 3.60% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link.

Gaurav Anand also recently made the following trade(s):

• On Thursday, May 29th, Gaurav Anand sold 175,000 shares of Coupang stock. The stock was sold at an average price of $28.11, for a total value of $4,919,250.00.

Coupang Trading Up 1.8%

Shares of CPNG stock traded up $0.51 on Tuesday, hitting $28.18. The stock had a trading volume of 8,893,659 shares, compared to its average volume of 9,495,551. Coupang, Inc. has a twelve month low of $19.02 and a twelve month high of $31.65. The firm has a market cap of $51.16 billion, a P/E ratio of 140.91 and a beta of 1.16. The company has a current ratio of 1.09, a quick ratio of 0.84 and a debt-to-equity ratio of 0.18. The company has a fifty day moving average price of $29.44 and a two-hundred day moving average price of $25.82.

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

Hedge Funds Weigh In On Coupang

Several institutional investors and hedge funds have recently made changes to their positions in CPNG. 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 Coupang during the 1st quarter worth about $30,000. Albion Financial Group UT bought a new stake in Coupang during the 2nd quarter worth about $30,000. Grove Bank & Trust bought a new stake in Coupang during the 1st quarter worth about $33,000. Finally, Brooklyn Investment Group lifted its position in Coupang by 43.1% during the 1st quarter. Brooklyn Investment Group now owns 1,680 shares of the company's stock worth $37,000 after buying an additional 506 shares in the last quarter. Institutional investors and hedge funds own 83.72% of the company's stock.

Analysts Set New Price Targets

Several research firms recently weighed in on CPNG. Barclays boosted their price objective on Coupang from $35.00 to $36.00 and gave the stock an "overweight" rating in a research report on Thursday, May 8th. Wall Street Zen downgraded Coupang from a "buy" rating to a "hold" rating in a research report on Sunday, July 20th. Nomura raised Coupang from a "neutral" rating to a "buy" rating and set a $35.00 target price on the stock in a research report on Wednesday, August 6th. Mizuho raised Coupang to a "hold" rating in a research report on Friday, April 18th. Finally, Deutsche Bank Aktiengesellschaft downgraded Coupang from a "buy" rating to a "hold" rating and set a $27.00 target price on the stock. in a research report on Wednesday, August 6th. Three analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $30.57.

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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