Coupang (NYSE:CPNG) CAO Jonathan Lee Sells 5,519 Shares

Coupang, Inc. (NYSE:CPNG) CAO Jonathan Lee sold 5,519 shares of the business’s stock in a transaction dated Monday, August 10th. The stock was sold at an average price of $16.10, for a total value of $88,855.90. Following the completion of the transaction, the chief accounting officer directly owned 181,915 shares of the company’s stock, valued at approximately $2,928,831.50. This trade represents a 2.94% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Coupang Stock Performance

Shares of NYSE CPNG traded up $0.34 during trading on Tuesday, reaching $16.53. 20,180,480 shares of the company traded hands, compared to its average volume of 23,460,725. The firm has a 50 day simple moving average of $17.00 and a 200-day simple moving average of $18.10. Coupang, Inc. has a 52-week low of $14.92 and a 52-week high of $34.08. The stock has a market capitalization of $29.68 billion, a PE ratio of -38.45 and a beta of 1.13. The company has a quick ratio of 0.68, a current ratio of 0.87 and a debt-to-equity ratio of 0.21.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in CPNG. EverSource Wealth Advisors LLC increased its stake in shares of Coupang by 72.6% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 3,316 shares of the company’s stock worth $99,000 after purchasing an additional 1,395 shares in the last quarter. Baird Financial Group Inc. raised its holdings in Coupang by 52.8% in the 2nd quarter. Baird Financial Group Inc. now owns 23,471 shares of the company’s stock worth $703,000 after purchasing an additional 8,107 shares during the period. Cerity Partners LLC lifted its position in Coupang by 48.1% during the second quarter. Cerity Partners LLC now owns 45,252 shares of the company’s stock valued at $1,356,000 after purchasing an additional 14,703 shares in the last quarter. State Street Corp lifted its position in Coupang by 8.4% during the second quarter. State Street Corp now owns 15,641,775 shares of the company’s stock valued at $468,628,000 after purchasing an additional 1,210,801 shares in the last quarter. Finally, AXA S.A. bought a new stake in Coupang during the second quarter valued at about $411,000. 83.72% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on CPNG shares. Mizuho set a $22.00 target price on shares of Coupang in a report on Wednesday, August 5th. Deutsche Bank Aktiengesellschaft raised Coupang from a “hold” rating to a “buy” rating and lowered their price target for the company from $23.00 to $21.50 in a report on Wednesday, August 5th. The Goldman Sachs Group set a $31.00 price objective on Coupang in a report on Thursday, July 9th. CLSA assumed coverage on Coupang in a research report on Monday, June 15th. They set an “outperform” rating and a $24.00 price objective for the company. Finally, Citigroup downgraded Coupang from a “buy” rating to a “neutral” rating and lowered their target price for the company from $23.00 to $22.20 in a report on Wednesday, May 6th. Six investment analysts have rated the stock with a Buy rating, four have issued a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $25.39.

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.