Coupang (NYSE:CPNG) Hits New 52-Week High at $24.05

Coupang, Inc. (NYSE:CPNG) shares hit a new 52-week high during trading on Friday . The company traded as high as $24.05 and last traded at $24.02, with a volume of 433096 shares. The stock had previously closed at $23.70.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on CPNG. Morgan Stanley upped their price objective on Coupang from $26.00 to $27.00 and gave the company an “overweight” rating in a research note on Wednesday, June 26th. UBS Group upgraded shares of Coupang from a “neutral” rating to a “buy” rating and boosted their target price for the company from $18.50 to $26.00 in a research note on Thursday, May 16th. Finally, CLSA upgraded shares of Coupang from a “hold” rating to an “outperform” rating and increased their target price for the stock from $18.00 to $31.00 in a research report on Wednesday, September 4th. One investment analyst has rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $27.25.

Coupang Price Performance

The stock has a market cap of $43.62 billion, a price-to-earnings ratio of 33.86, a P/E/G ratio of 171.76 and a beta of 1.10. The company has a 50 day simple moving average of $21.76 and a 200-day simple moving average of $21.09. The company has a current ratio of 1.12, a quick ratio of 0.87 and a debt-to-equity ratio of 0.72.

Coupang (NYSE:CPNG) last announced its quarterly earnings data on Tuesday, August 6th. The company reported $0.07 EPS for the quarter, topping analysts’ consensus estimates of ($0.01) by $0.08. Coupang had a net margin of 3.87% and a return on equity of 12.04%. The business had revenue of $7.32 billion for the quarter, compared to analyst estimates of $7.39 billion. During the same quarter in the previous year, the firm posted $0.08 earnings per share. The firm’s revenue for the quarter was up 25.4% on a year-over-year basis. Research analysts expect that Coupang, Inc. will post 0.14 EPS for the current year.

Insider Activity

In related news, Director Benjamin Sun sold 700,000 shares of the business’s stock in a transaction that occurred on Monday, June 17th. The stock was sold at an average price of $20.63, for a total transaction of $14,441,000.00. Following the transaction, the director now directly owns 2,169,421 shares of the company’s stock, valued at approximately $44,755,155.23. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, Director Benjamin Sun sold 700,000 shares of the business’s stock in a transaction that occurred on Monday, June 17th. The stock was sold at an average price of $20.63, for a total transaction of $14,441,000.00. Following the completion of the sale, the director now owns 2,169,421 shares in the company, valued at $44,755,155.23. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Pranam Kolari sold 10,432 shares of Coupang stock in a transaction dated 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 of the company’s stock, valued at approximately $3,390,084.40. The disclosure for this sale can be found here. Over the last three months, insiders acquired 601,300 shares of company stock valued at $13,604,354 and sold 1,110,432 shares valued at $23,870,597. Insiders own 13.60% of the company’s stock.

Institutional Investors Weigh In On Coupang

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Bain Capital Public Equity Management II LLC bought a new position in Coupang in the fourth quarter valued at about $18,850,000. Nebula Research & Development LLC boosted its position in Coupang by 220.4% during the 4th quarter. Nebula Research & Development LLC now owns 98,140 shares of the company’s stock worth $1,589,000 after buying an additional 67,509 shares during the period. Kontiki Capital Management HK Ltd. grew its holdings in Coupang by 3.5% during the 4th quarter. Kontiki Capital Management HK Ltd. now owns 8,533,568 shares of the company’s stock worth $138,158,000 after acquiring an additional 287,000 shares during the last quarter. Tree Line Advisors Hong Kong Ltd. lifted its stake in shares of Coupang by 49.0% in the 4th quarter. Tree Line Advisors Hong Kong Ltd. now owns 2,980,000 shares of the company’s stock valued at $48,246,000 after purchasing an additional 980,000 shares during the period. Finally, Bleakley Financial Group LLC boosted its position in shares of Coupang by 17.9% during the 1st quarter. Bleakley Financial Group LLC now owns 17,880 shares of the company’s stock valued at $318,000 after purchasing an additional 2,710 shares in the last quarter. 83.72% of the stock is currently owned by institutional investors.

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.