Insider Selling: Coupang (NYSE:CPNG) Insider Sells 192,110 Shares

Key Points

• Coupang insider Harold Rogers sold 192,110 shares at an average price of $16.18, generating approximately $3.11 million. The sale reduced his stake by 20.59%, leaving him with 740,931 shares.
• Coupang shares rose 2.1% to $16.53, but remain well below their 52-week high of $34.08. Institutional investors own 83.72% of the company.
• Analyst sentiment is mixed: six analysts rate the stock Buy, four Hold and two Sell, resulting in a consensus Hold rating and an average price target of $25.39.

Coupang, Inc. (NYSE:CPNG - Get Free Report) insider Harold Rogers sold 192,110 shares of the business's stock in a transaction that occurred on Monday, August 10th. The stock was sold at an average price of $16.18, for a total value of $3,108,339.80. Following the sale, the insider owned 740,931 shares of the company's stock, valued at approximately $11,988,263.58. The trade was a 20.59% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Coupang Stock Up 2.1%

CPNG traded up $0.34 on Tuesday, reaching $16.53. The company's stock had a trading volume of 20,179,423 shares, compared to its average volume of 23,460,725. The company has a market capitalization of $29.68 billion, a price-to-earnings ratio of -38.45 and a beta of 1.13. Coupang, Inc. has a fifty-two week low of $14.92 and a fifty-two week high of $34.08. The company has a quick ratio of 0.68, a current ratio of 0.87 and a debt-to-equity ratio of 0.21. The stock has a 50 day moving average of $17.00 and a two-hundred day moving average of $18.10.

Hedge Funds Weigh In On Coupang

A number of hedge funds have recently modified their holdings of CPNG. Sunbelt Securities Inc. purchased a new stake in Coupang in the 3rd quarter valued at $26,000. Reflection Asset Management purchased a new position in Coupang during the 4th quarter worth $28,000. Webster Bank N. A. grew its position in Coupang by 325.8% during the 1st quarter. Webster Bank N. A. now owns 1,699 shares of the company's stock worth $32,000 after purchasing an additional 1,300 shares during the last quarter. Main Street Group LTD acquired a new position in Coupang in the first quarter valued at $40,000. Finally, Aster Capital Management DIFC Ltd purchased a new stake in shares of Coupang in the fourth quarter valued at about $42,000. 83.72% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

CPNG has been the topic of a number of recent analyst reports. The Goldman Sachs Group set a $31.00 target price on shares of Coupang in a research report on Thursday, July 9th. Weiss Ratings reissued a "sell (d)" rating on shares of Coupang in a research report on Tuesday, August 4th. Deutsche Bank Aktiengesellschaft upgraded shares of Coupang from a "hold" rating to a "buy" rating and decreased their price objective for the company from $23.00 to $21.50 in a research note on Wednesday, August 5th. Bank of America cut their target price on Coupang from $27.00 to $24.00 and set a "buy" rating on the stock in a research report on Wednesday, August 5th. Finally, CLSA assumed coverage on Coupang in a report on Monday, June 15th. They issued an "outperform" rating and a $24.00 target price for the company. Six research analysts have rated the stock with a Buy rating, four have given a Hold rating and two have issued a Sell rating to the company. According to MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target of $25.39.

About Coupang

Coupang, listed on the New York Stock Exchange under the ticker CPNG, is a South Korean e-commerce company headquartered in Seoul. Founded in 2010 by Bom Kim, the company grew rapidly by combining an online marketplace with a large direct-retail business model. Coupang completed a primary listing in the United States in 2021, and it has become one of South Korea's leading online retailers by focusing on convenience, speed and a wide product assortment across consumer categories.

The company operates a vertically integrated e-commerce platform that includes a customer-facing marketplace and an extensive logistics and fulfillment network.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source