Coupang (NYSE:CPNG) Shares Up 4.2% – Here’s Why

Coupang, Inc. (NYSE:CPNG) shot up 4.2% during trading on Wednesday . The company traded as high as $26.05 and last traded at $26.03. 3,003,599 shares were traded during mid-day trading, a decline of 69% from the average session volume of 9,733,264 shares. The stock had previously closed at $24.98.

Analyst Ratings Changes

A number of brokerages recently commented on CPNG. CLSA upgraded Coupang from a “hold” rating to an “outperform” rating and raised their price target for the stock from $18.00 to $31.00 in a research report on Wednesday, September 4th. Sanford C. Bernstein raised Coupang from an “underperform” rating to an “outperform” rating and set a $30.00 price objective on the stock in a research note on Monday, October 7th. One investment analyst has rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Coupang presently has a consensus rating of “Moderate Buy” and a consensus target price of $27.56.

Coupang Stock Up 0.2 %

The stock has a 50 day moving average price of $24.04 and a 200 day moving average price of $22.47. The stock has a market capitalization of $45.90 billion, a price-to-earnings ratio of 36.87, a price-to-earnings-growth ratio of 282.07 and a beta of 1.11. The company has a quick ratio of 0.87, a current ratio of 1.12 and a debt-to-equity ratio of 0.72.

Coupang (NYSE:CPNG) last issued its quarterly earnings data on Tuesday, August 6th. The company reported $0.07 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.01) by $0.08. Coupang had a return on equity of 12.04% and a net margin of 3.87%. The company had revenue of $7.32 billion during the quarter, compared to the consensus estimate of $7.39 billion. During the same period last year, the company earned $0.08 earnings per share. The firm’s revenue was up 25.4% compared to the same quarter last year. As a group, analysts forecast that Coupang, Inc. will post 0.09 EPS for the current year.

Insider Transactions at Coupang

In other Coupang news, CFO Gaurav Anand sold 200,000 shares of Coupang stock in a transaction that occurred on Tuesday, August 13th. The stock was sold at an average price of $22.75, for a total value of $4,550,000.00. Following the completion of the sale, the chief financial officer now directly owns 1,937,500 shares in the company, valued at approximately $44,078,125. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, insider Pranam Kolari sold 10,432 shares of the business’s stock in a transaction that occurred on Friday, August 2nd. The stock was sold at an average price of $19.90, for a total transaction of $207,596.80. Following the completion of the sale, the insider now owns 170,356 shares in the company, valued at $3,390,084.40. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Gaurav Anand sold 200,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 13th. The shares were sold at an average price of $22.75, for a total value of $4,550,000.00. Following the sale, the chief financial officer now owns 1,937,500 shares of the company’s stock, valued at approximately $44,078,125. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders purchased 601,300 shares of company stock worth $13,604,354 and sold 411,388 shares worth $9,452,761. 13.60% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Baillie Gifford & Co. boosted its position in Coupang by 1.6% in the second quarter. Baillie Gifford & Co. now owns 171,350,025 shares of the company’s stock worth $3,589,783,000 after purchasing an additional 2,749,027 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its position in shares of Coupang by 31.5% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 78,865,294 shares of the company’s stock valued at $1,403,015,000 after buying an additional 18,894,909 shares during the last quarter. Kontiki Capital Management HK Ltd. lifted its position in shares of Coupang by 1.9% during the 1st quarter. Kontiki Capital Management HK Ltd. now owns 8,693,468 shares of the company’s stock valued at $154,657,000 after buying an additional 159,900 shares during the last quarter. Bamco Inc. NY lifted its position in shares of Coupang by 9.6% during the 1st quarter. Bamco Inc. NY now owns 7,942,062 shares of the company’s stock valued at $141,289,000 after buying an additional 693,898 shares during the last quarter. Finally, Dorsal Capital Management LP lifted its position in shares of Coupang by 26.3% during the 2nd quarter. Dorsal Capital Management LP now owns 6,000,000 shares of the company’s stock valued at $125,700,000 after buying an additional 1,250,000 shares during the last quarter. Hedge funds and other institutional investors 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.