Coupang (NYSE:CPNG) Hits New 52-Week High at $22.95

Coupang, Inc. (NYSE:CPNG - Get Free Report)'s share price reached a new 52-week high on Tuesday . The stock traded as high as $22.95 and last traded at $22.56, with a volume of 4424355 shares traded. The stock had previously closed at $22.46.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on CPNG. Deutsche Bank Aktiengesellschaft raised shares of Coupang from a "hold" rating to a "buy" rating and lifted their target price for the stock from $18.50 to $21.00 in a report on Thursday, February 29th. Citigroup raised Coupang from a "neutral" rating to a "buy" rating and lifted their target price for the stock from $19.00 to $26.00 in a report on Monday, April 15th. Barclays increased their price objective on Coupang from $24.00 to $25.00 and gave the company an "overweight" rating in a research report on Thursday, February 29th. Finally, TheStreet raised Coupang from a "d+" rating to a "c-" rating in a research report on Tuesday, March 5th. One investment analyst has rated the stock with a hold rating and three have assigned a buy rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $22.42.

Coupang Stock Up 1.2 %

The company has a current ratio of 1.14, a quick ratio of 0.90 and a debt-to-equity ratio of 0.13. The business's 50 day simple moving average is $18.54 and its 200 day simple moving average is $16.88. The firm has a market capitalization of $40.76 billion, a PE ratio of 30.31 and a beta of 1.32.

Coupang (NYSE:CPNG - Get Free Report) last posted its quarterly earnings data on Tuesday, February 27th. The company reported $0.08 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.05 by $0.03. Coupang had a return on equity of 15.04% and a net margin of 5.57%. The business had revenue of $6.56 billion during the quarter, compared to analyst estimates of $6.40 billion. During the same period last year, the company earned $0.06 EPS. The company's revenue for the quarter was up 23.2% on a year-over-year basis. On average, equities research analysts forecast that Coupang, Inc. will post 0.32 earnings per share for the current year.

Insider Transactions at Coupang

In related news, insider Harold Rogers sold 139,080 shares of the company's stock in a transaction dated Monday, March 18th. The shares were sold at an average price of $18.25, for a total transaction of $2,538,210.00. Following the transaction, the insider now directly owns 394,192 shares in the company, valued at approximately $7,194,004. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, insider Harold Rogers sold 139,080 shares of the company's stock in a transaction that occurred on Monday, March 18th. The stock was sold at an average price of $18.25, for a total transaction of $2,538,210.00. Following the transaction, the insider now owns 394,192 shares of the company's stock, valued at $7,194,004. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Neil Mehta sold 1,600,000 shares of the company's stock in a transaction on Thursday, March 14th. The shares were sold at an average price of $18.68, for a total value of $29,888,000.00. Following the completion of the transaction, the director now directly owns 48,006,135 shares in the company, valued at approximately $896,754,601.80. The disclosure for this sale can be found here. In the last quarter, insiders sold 33,355,590 shares of company stock worth $633,443,979. 14.90% of the stock is currently owned by insiders.

Institutional Trading of Coupang

A number of hedge funds have recently added to or reduced their stakes in the business. Exchange Traded Concepts LLC raised its holdings in shares of Coupang by 9.5% in the third quarter. Exchange Traded Concepts LLC now owns 64,097 shares of the company's stock worth $1,090,000 after buying an additional 5,566 shares during the last quarter. Coronation Fund Managers Ltd. raised its position in shares of Coupang by 2.8% during the 3rd quarter. Coronation Fund Managers Ltd. now owns 3,093,167 shares of the company's stock worth $52,584,000 after purchasing an additional 84,076 shares during the last quarter. Oak Thistle LLC purchased a new stake in shares of Coupang during the third quarter worth $929,000. AMS Capital Ltda purchased a new position in Coupang during the third quarter worth approximately $2,729,000. Finally, Simplicity Solutions LLC lifted its holdings in Coupang by 23.5% in the third quarter. Simplicity Solutions LLC now owns 15,420 shares of the company's stock valued at $262,000 after acquiring an additional 2,938 shares during the last quarter. 83.72% of the stock is 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.