Coupang (NYSE:CPNG) Insider Harold Rogers Sells 192,110 Shares of Stock

Coupang, Inc. (NYSE:CPNG) insider Harold Rogers sold 192,110 shares of Coupang stock in a transaction that occurred on Monday, August 10th. The shares were sold at an average price of $16.18, for a total value of $3,108,339.80. Following the completion of the sale, the insider owned 740,931 shares in the company, valued at approximately $11,988,263.58. This trade represents a 20.59% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

Coupang Trading Up 2.1%

Shares of CPNG stock opened at $16.53 on Wednesday. The business’s fifty day moving average price is $17.00 and its 200 day moving average price is $18.07. The firm has a market capitalization of $29.68 billion, a PE ratio of -38.45 and a beta of 1.13. The company has a debt-to-equity ratio of 0.21, a current ratio of 0.87 and a quick ratio of 0.68. Coupang, Inc. has a 1-year low of $14.92 and a 1-year high of $34.08.

Wall Street Analyst Weigh In

CPNG has been the topic of a number of recent analyst reports. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Coupang in a research note on Tuesday, August 4th. Deutsche Bank Aktiengesellschaft upgraded shares of Coupang from a “hold” rating to a “buy” rating and reduced their price objective for the company from $23.00 to $21.50 in a research note on Wednesday, August 5th. The Goldman Sachs Group set a $31.00 price objective on shares of Coupang in a report on Thursday, July 9th. Citigroup lowered shares of Coupang from a “buy” rating to a “neutral” rating and lowered their target price for the stock from $23.00 to $22.20 in a research report on Wednesday, May 6th. Finally, Mizuho set a $22.00 price target on shares of Coupang in a research report on Wednesday, August 5th. Six equities research analysts have rated the stock with a Buy rating, four have issued a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, Coupang currently has an average rating of “Hold” and an average price target of $25.39.

Institutional Trading of Coupang

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Dodge & Cox lifted its holdings in Coupang by 4.9% in the 4th quarter. Dodge & Cox now owns 49,233,320 shares of the company’s stock valued at $1,161,414,000 after purchasing an additional 2,285,600 shares in the last quarter. Capital International Investors grew its holdings in shares of Coupang by 20.4% during the fourth quarter. Capital International Investors now owns 41,131,036 shares of the company’s stock worth $970,340,000 after buying an additional 6,977,942 shares in the last quarter. Tiger Global Management LLC grew its holdings in shares of Coupang by 31.7% during the first quarter. Tiger Global Management LLC now owns 34,595,407 shares of the company’s stock worth $653,161,000 after buying an additional 8,328,148 shares in the last quarter. Vanguard Group Inc. raised its position in shares of Coupang by 3.3% in the fourth quarter. Vanguard Group Inc. now owns 29,547,637 shares of the company’s stock valued at $697,029,000 after buying an additional 951,812 shares during the last quarter. Finally, Durable Capital Partners LP raised its position in shares of Coupang by 0.4% in the third quarter. Durable Capital Partners LP now owns 24,833,189 shares of the company’s stock valued at $799,629,000 after buying an additional 89,207 shares during the last quarter. Hedge funds and other institutional investors own 83.72% of the company’s stock.

Coupang Company Profile

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.