Coupang, Inc. (NYSE:CPNG) Director Benjamin Sun Sells 250,000 Shares

Coupang, Inc. (NYSE:CPNG - Get Free Report) Director Benjamin Sun sold 250,000 shares of Coupang stock in a transaction on Monday, March 17th. The stock was sold at an average price of $23.43, for a total value of $5,857,500.00. Following the sale, the director now owns 1,719,421 shares of the company's stock, valued at approximately $40,286,034.03. This trade represents a 12.69 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

Coupang Stock Up 0.2 %

CPNG traded up $0.05 on Friday, hitting $23.36. The company had a trading volume of 5,691,917 shares, compared to its average volume of 8,327,455. The stock has a fifty day moving average price of $23.40 and a 200-day moving average price of $23.93. Coupang, Inc. has a 12-month low of $17.34 and a 12-month high of $26.91. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.86 and a current ratio of 1.13. The stock has a market capitalization of $42.17 billion, a price-to-earnings ratio of 40.97, a P/E/G ratio of 52.20 and a beta of 1.10.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on CPNG shares. Barclays set a $35.00 target price on Coupang and gave the stock an "overweight" rating in a research report on Thursday, February 27th. Citigroup decreased their target price on Coupang from $31.00 to $28.00 and set a "buy" rating for the company in a research report on Wednesday, January 8th. Deutsche Bank Aktiengesellschaft upgraded Coupang from a "hold" rating to a "buy" rating and set a $28.50 target price for the company in a research report on Wednesday, February 26th. Finally, Mizuho raised their price target on Coupang from $25.00 to $27.00 and gave the company a "neutral" rating in a research note on Wednesday, February 26th. One analyst has rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $29.17.

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Hedge Funds Weigh In On Coupang

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Assenagon Asset Management S.A. grew its stake in Coupang by 85.4% in the fourth quarter. Assenagon Asset Management S.A. now owns 1,100,183 shares of the company's stock valued at $24,182,000 after purchasing an additional 506,622 shares during the last quarter. Allspring Global Investments Holdings LLC grew its stake in Coupang by 23.4% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 218,100 shares of the company's stock valued at $4,861,000 after purchasing an additional 41,384 shares during the last quarter. Elevate Capital Advisors LLC purchased a new position in Coupang in the fourth quarter valued at about $2,618,000. Charles Schwab Investment Management Inc. boosted its holdings in Coupang by 22.3% in the third quarter. Charles Schwab Investment Management Inc. now owns 759,286 shares of the company's stock worth $18,640,000 after acquiring an additional 138,416 shares in the last quarter. Finally, Plotkin Financial Advisors LLC acquired a new stake in Coupang in the third quarter worth about $491,000. 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.