Coupang (NYSE:CPNG) Sets New 52-Week High at $23.51

Coupang, Inc. (NYSE:CPNG - Get Free Report) shares reached a new 52-week high on Monday . The company traded as high as $23.51 and last traded at $23.23, with a volume of 2593238 shares changing hands. The stock had previously closed at $23.00.

Analyst Ratings Changes

CPNG has been the topic of a number of research reports. Bank of America began coverage on shares of Coupang in a research note on Friday. They set a "buy" rating and a $30.00 target price on the stock. Deutsche Bank Aktiengesellschaft raised Coupang from a "hold" rating to a "buy" rating and lifted their price target for the company from $18.50 to $21.00 in a research note on Thursday, February 29th. TheStreet upgraded shares of Coupang from a "d+" rating to a "c-" rating in a report on Tuesday, March 5th. Citigroup raised shares of Coupang from a "neutral" rating to a "buy" rating and boosted their target price for the stock from $19.00 to $26.00 in a report on Monday, April 15th. Finally, Barclays lifted their price target on shares of Coupang from $24.00 to $25.00 and gave the stock an "overweight" rating in a report on Thursday, February 29th. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, Coupang has a consensus rating of "Moderate Buy" and a consensus target price of $23.75.

Coupang Stock Up 1.6 %

The stock's 50-day moving average price is $19.65 and its 200-day moving average price is $17.17. 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 stock has a market cap of $41.89 billion, a price-to-earnings ratio of 31.15, a P/E/G ratio of 19.21 and a beta of 1.13.

Coupang (NYSE:CPNG - Get Free Report) last released its earnings results 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 net margin of 5.57% and a return on equity of 15.04%. The business had revenue of $6.56 billion for the quarter, compared to analyst estimates of $6.40 billion. During the same quarter in the previous year, the business earned $0.06 earnings per share. Coupang's revenue for the quarter was up 23.2% on a year-over-year basis. On average, sell-side analysts expect that Coupang, Inc. will post 0.35 earnings per share for the current year.

Insider Activity at Coupang

In related news, major shareholder Svf Investments (Uk) Ltd sold 31,614,154 shares of the company's stock in a transaction dated Tuesday, March 12th. The stock was sold at an average price of $19.01, for a total transaction of $600,985,067.54. Following the sale, the insider now owns 364,542,259 shares in the company, valued at approximately $6,929,948,343.59. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other Coupang news, Director Neil Mehta sold 1,600,000 shares of the firm's stock in a transaction that occurred on Thursday, March 14th. The stock was sold at an average price of $18.68, for a total value of $29,888,000.00. Following the completion of the sale, the director now owns 48,006,135 shares of the company's stock, valued at $896,754,601.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, major shareholder Svf Investments (Uk) Ltd sold 31,614,154 shares of the firm's stock in a transaction that occurred on Tuesday, March 12th. The shares were sold at an average price of $19.01, for a total value of $600,985,067.54. Following the completion of the sale, the insider now directly owns 364,542,259 shares of the company's stock, valued at approximately $6,929,948,343.59. The disclosure for this sale can be found here. Insiders have sold a total of 33,355,282 shares of company stock worth $633,457,030 in the last 90 days. Corporate insiders own 14.90% of the company's stock.

Institutional Trading of Coupang

Hedge funds have recently bought and sold shares of the business. Summit Trail Advisors LLC grew its position in shares of Coupang by 0.6% in the first quarter. Summit Trail Advisors LLC now owns 71,576 shares of the company's stock valued at $1,273,000 after purchasing an additional 462 shares in the last quarter. Private Advisor Group LLC grew its position in Coupang by 1.6% during the fourth quarter. Private Advisor Group LLC now owns 47,052 shares of the company's stock worth $762,000 after buying an additional 760 shares in the last quarter. Global Retirement Partners LLC grew its position in Coupang by 135.8% during the first quarter. Global Retirement Partners LLC now owns 1,436 shares of the company's stock worth $26,000 after buying an additional 827 shares in the last quarter. CIBC Asset Management Inc grew its position in Coupang by 2.3% during the third quarter. CIBC Asset Management Inc now owns 39,502 shares of the company's stock worth $672,000 after buying an additional 899 shares in the last quarter. Finally, Raymond James & Associates grew its position in Coupang by 1.2% during the fourth quarter. Raymond James & Associates now owns 87,812 shares of the company's stock worth $1,422,000 after buying an additional 1,031 shares in the last quarter. 83.72% of the stock is currently owned by 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.