Insider Selling: Coupang (NYSE:CPNG) CAO Sells 5,519 Shares of Company Stock

Key Points

• Coupang CAO Jonathan Lee sold 5,519 shares at an average price of $13.65, generating $75,334.35. The sale, conducted under a pre-arranged Rule 10b5-1 plan, reduced his direct ownership by 3.03%.
• Coupang shares traded at $14.21, near their 52-week low of $13.35 and well below the 52-week high of $32.74. The company reported a quarterly loss of $0.09 per share, though it beat analysts’ loss estimate.
• Institutional investors own 83.72% of Coupang, while analysts’ consensus rating is “Hold” with an average price target of $24.06.

Coupang, Inc. (NYSE:CPNG - Get Free Report) CAO Jonathan Lee sold 5,519 shares of the firm's stock in a transaction dated Friday, October 2nd. The stock was sold at an average price of $13.65, for a total value of $75,334.35. Following the sale, the chief accounting officer directly owned 176,396 shares in the company, valued at approximately $2,407,805.40. This trade represents a 3.03% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Coupang Stock Performance

CPNG stock traded up $0.42 during trading on Monday, hitting $14.21. 34,495,385 shares of the company traded hands, compared to its average volume of 21,891,064. Coupang, Inc. has a 1 year low of $13.35 and a 1 year high of $32.74. The company has a market cap of $25.53 billion, a PE ratio of -33.03 and a beta of 1.17. The stock's 50-day simple moving average is $15.44 and its 200 day simple moving average is $17.11. The company has a debt-to-equity ratio of 0.21, a current ratio of 0.87 and a quick ratio of 0.68.

Coupang (NYSE:CPNG - Get Free Report) last released its quarterly earnings data on Tuesday, August 4th. The company reported ($0.09) EPS for the quarter, topping the consensus estimate of ($0.27) by $0.18. The business had revenue of $8.86 billion for the quarter, compared to analyst estimates of $8.92 billion. Coupang had a negative return on equity of 8.77% and a negative net margin of 2.16%.The business's quarterly revenue was up 3.9% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.02 EPS. On average, equities analysts expect that Coupang, Inc. will post -0.46 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Coupang

Several institutional investors have recently bought and sold shares of CPNG. Capital International Investors lifted its position in shares of Coupang by 20.4% in the fourth quarter. Capital International Investors now owns 41,131,036 shares of the company's stock valued at $970,340,000 after acquiring an additional 6,977,942 shares in the last quarter. Tiger Global Management LLC increased its position in shares of Coupang by 31.7% during the first quarter. Tiger Global Management LLC now owns 34,595,407 shares of the company's stock worth $653,161,000 after purchasing an additional 8,328,148 shares in the last quarter. Dragoneer Investment Group LLC raised its stake in Coupang by 47.1% in the 4th quarter. Dragoneer Investment Group LLC now owns 21,576,556 shares of the company's stock valued at $508,991,000 after purchasing an additional 6,910,865 shares during the last quarter. Altimeter Capital Management LP raised its stake in Coupang by 56.4% in the 4th quarter. Altimeter Capital Management LP now owns 15,676,794 shares of the company's stock valued at $369,816,000 after purchasing an additional 5,652,210 shares during the last quarter. Finally, Assenagon Asset Management S.A. lifted its holdings in Coupang by 1,394.1% in the 1st quarter. Assenagon Asset Management S.A. now owns 17,117,583 shares of the company's stock valued at $323,180,000 after purchasing an additional 15,971,942 shares in the last quarter. 83.72% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms have weighed in on CPNG. Barclays reaffirmed an "overweight" rating and issued a $29.00 price objective on shares of Coupang in a report on Tuesday, July 7th. The Goldman Sachs Group set a $31.00 price target on Coupang in a research note on Thursday, July 9th. Bank of America reduced their price target on Coupang from $27.00 to $24.00 and set a "buy" rating for the company in a report on Wednesday, August 5th. CLSA initiated coverage on Coupang in a report on Monday, June 15th. They issued an "outperform" rating and a $24.00 price objective on the stock. Finally, Mizuho set a $22.00 price objective on Coupang in a research report on Wednesday, August 5th. Five equities research analysts have rated the stock with a Buy rating, four have issued a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $24.06.

Coupang Company Profile

Coupang, Inc is an e-commerce and technology company that operates primarily in South Korea and Taiwan. The company connects consumers with a broad selection of merchandise, including groceries, household goods, electronics, apparel, beauty products and other everyday items. Its services are supported by an integrated logistics network designed to provide fast delivery and a convenient online shopping experience.

Coupang's offerings include its Rocket Delivery and Rocket Fresh services, which provide rapid delivery of general merchandise and groceries, respectively.

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