Coupang (NYSE:CPNG) Hits New 52-Week High at $24.70

Coupang, Inc. (NYSE:CPNG) reached a new 52-week high on Thursday . The company traded as high as $24.70 and last traded at $24.67, with a volume of 336052 shares changing hands. The stock had previously closed at $24.18.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the company. CLSA raised Coupang from a “hold” rating to an “outperform” rating and boosted their target price for the company from $18.00 to $31.00 in a research note on Wednesday, September 4th. Morgan Stanley boosted their target price on Coupang from $26.00 to $27.00 and gave the company an “overweight” rating in a research note on Wednesday, June 26th. One analyst has rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $27.25.

Coupang Price Performance

The business has a 50-day simple moving average of $22.08 and a 200 day simple moving average of $21.34. The firm has a market cap of $43.95 billion, a P/E ratio of 35.11, a price-to-earnings-growth ratio of 171.76 and a beta of 1.10. The company has a debt-to-equity ratio of 0.72, a quick ratio of 0.87 and a current ratio of 1.12.

Coupang (NYSE:CPNG) last released its quarterly earnings results on Tuesday, August 6th. The company reported $0.07 EPS for the quarter, beating analysts’ consensus estimates of ($0.01) by $0.08. The business had revenue of $7.32 billion during the quarter, compared to analyst estimates of $7.39 billion. Coupang had a return on equity of 12.04% and a net margin of 3.87%. Coupang’s quarterly revenue was up 25.4% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.08 EPS. On average, analysts anticipate that Coupang, Inc. will post 0.14 earnings per share for the current fiscal year.

Insider Transactions at Coupang

In other news, insider Pranam Kolari sold 10,432 shares of the stock in a transaction that occurred on Friday, August 2nd. The stock was sold at an average price of $19.90, for a total value of $207,596.80. Following the completion of the transaction, the insider now owns 170,356 shares of the company’s stock, valued at approximately $3,390,084.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, insider Pranam Kolari sold 10,432 shares of the stock in a transaction that occurred on Friday, August 2nd. The stock was sold at an average price of $19.90, for a total value of $207,596.80. Following the completion of the transaction, the insider now owns 170,356 shares of the company’s stock, valued at approximately $3,390,084.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Benjamin Sun sold 200,000 shares of the stock in a transaction that occurred on Monday, August 19th. The stock was sold at an average price of $23.36, for a total value of $4,672,000.00. Following the completion of the transaction, the director now directly owns 1,969,421 shares of the company’s stock, valued at approximately $46,005,674.56. The disclosure for this sale can be found here. In the last quarter, insiders bought 601,300 shares of company stock valued at $13,604,354 and sold 410,432 shares valued at $9,429,597. Corporate insiders own 13.60% of the company’s stock.

Institutional Trading of Coupang

Several hedge funds and other institutional investors have recently made changes to their positions in CPNG. GAMMA Investing LLC grew its stake in shares of Coupang by 308.2% in the 2nd quarter. GAMMA Investing LLC now owns 1,947 shares of the company’s stock worth $41,000 after buying an additional 1,470 shares during the last quarter. Register Financial Advisors LLC purchased a new stake in shares of Coupang in the 1st quarter worth approximately $50,000. Opal Wealth Advisors LLC purchased a new stake in shares of Coupang in the 2nd quarter worth approximately $74,000. Benjamin F. Edwards & Company Inc. grew its stake in shares of Coupang by 360.6% in the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 4,118 shares of the company’s stock worth $86,000 after buying an additional 3,224 shares during the last quarter. Finally, V Square Quantitative Management LLC purchased a new stake in shares of Coupang in the 2nd quarter worth approximately $89,000. Hedge funds and other institutional investors own 83.72% of the company’s stock.

About Coupang

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.