Coupang (NYSE:CPNG) Hits New 52-Week High at $21.19

Coupang, Inc. (NYSE:CPNG)’s stock price reached a new 52-week high on Friday . The company traded as high as $21.19 and last traded at $21.00, with a volume of 13284263 shares changing hands. The stock had previously closed at $19.06.

Analysts Set New Price Targets

A number of research firms have weighed in on CPNG. Barclays upped their price objective on shares of Coupang from $24.00 to $25.00 and gave the company an “overweight” rating in a research report on Thursday, February 29th. UBS Group cut shares of Coupang from a “buy” rating to a “neutral” rating and decreased their price objective for the company from $26.00 to $18.50 in a research report on Wednesday, December 20th. TheStreet raised shares of Coupang from a “d+” rating to a “c-” rating in a research report on Tuesday, March 5th. Citigroup cut shares of Coupang from a “buy” rating to a “neutral” rating and decreased their price objective for the company from $20.00 to $17.00 in a research report on Tuesday, January 16th. Finally, Deutsche Bank Aktiengesellschaft raised shares of Coupang from a “hold” rating to a “buy” rating and upped their price objective for the company from $18.50 to $21.00 in a research report on Thursday, February 29th. Two analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $20.92.

Coupang Stock Up 11.5 %

The company has a debt-to-equity ratio of 0.13, a current ratio of 1.14 and a quick ratio of 0.90. The firm’s 50-day moving average price is $17.43 and its 200 day moving average price is $16.62. The firm has a market cap of $38.11 billion, a P/E ratio of 28.33 and a beta of 1.32.

Coupang (NYSE:CPNG) last issued its quarterly earnings results on Tuesday, February 27th. The company reported $0.08 EPS for the quarter, topping 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 analysts’ expectations of $6.40 billion. During the same quarter last year, the company posted $0.06 earnings per share. The company’s quarterly revenue was up 23.2% compared to the same quarter last year. On average, equities research analysts expect that Coupang, Inc. will post 0.29 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, major shareholder Svf Investments (Uk) Ltd sold 31,614,154 shares of the stock in a transaction dated Tuesday, March 12th. The shares were 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 $6,929,948,343.59. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 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 shares were sold at an average price of $18.68, for a total value of $29,888,000.00. Following the sale, the director now owns 48,006,135 shares in the company, valued at $896,754,601.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 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 transaction of $600,985,067.54. Following the completion of the sale, the insider now owns 364,542,259 shares in the company, valued at approximately $6,929,948,343.59. The disclosure for this sale can be found here. Insiders have sold a total of 33,355,590 shares of company stock worth $633,443,979 over the last quarter. 14.90% of the stock is owned by company insiders.

Institutional Investors Weigh In On Coupang

Several large investors have recently made changes to their positions in CPNG. Ameriprise Financial Inc. increased its stake in shares of Coupang by 25.3% during the third quarter. Ameriprise Financial Inc. now owns 3,054,223 shares of the company’s stock valued at $51,922,000 after acquiring an additional 616,210 shares during the period. Twenty Acre Capital LP increased its stake in shares of Coupang by 23.5% during the fourth quarter. Twenty Acre Capital LP now owns 505,914 shares of the company’s stock valued at $8,191,000 after acquiring an additional 96,300 shares during the period. M&T Bank Corp acquired a new position in shares of Coupang during the third quarter valued at approximately $2,415,000. SG Americas Securities LLC increased its stake in shares of Coupang by 1,509.1% during the fourth quarter. SG Americas Securities LLC now owns 163,159 shares of the company’s stock valued at $2,642,000 after acquiring an additional 153,019 shares during the period. Finally, AMS Capital Ltda acquired a new position in shares of Coupang during the third quarter valued at approximately $2,729,000. Institutional investors and hedge funds own 83.72% of the company’s stock.

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.