Coupang (NYSE:CPNG) Stock Price Down 4.4% After Insider Selling

Shares of Coupang, Inc. (NYSE:CPNG) dropped 4.4% during trading on Monday following insider selling activity. The company traded as low as $20.39 and last traded at $20.45. Approximately 1,713,278 shares traded hands during trading, a decline of 86% from the average daily volume of 11,938,493 shares. The stock had previously closed at $21.40.

Specifically, CAO Jonathan D. Lee sold 5,000 shares of Coupang stock in a transaction that occurred on Thursday, May 9th. The shares were sold at an average price of $21.45, for a total value of $107,250.00. Following the transaction, the chief accounting officer now owns 120,835 shares of the company’s stock, valued at approximately $2,591,910.75. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CAO Jonathan D. Lee sold 5,000 shares of Coupang stock in a transaction that occurred on Thursday, May 9th. The shares were sold at an average price of $21.45, for a total value of $107,250.00. Following the transaction, the chief accounting officer now owns 120,835 shares of the company’s stock, valued at approximately $2,591,910.75. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Benjamin Sun sold 700,000 shares of Coupang 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 transaction, the director now directly owns 2,169,421 shares in the company, valued at approximately $44,755,155.23. The disclosure for this sale can be found here. Insiders have sold 753,538 shares of company stock valued at $15,662,818 in the last quarter. Insiders own 13.60% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the stock. Mizuho lifted their target price on shares of Coupang from $20.00 to $23.00 and gave the stock a “neutral” rating in a research report on Wednesday, May 8th. Barclays lifted their target price on shares of Coupang from $25.00 to $32.00 and gave the stock an “overweight” rating in a research report on Thursday, May 9th. Citigroup lifted their target price on shares of Coupang from $26.00 to $28.00 and gave the stock a “buy” rating in a research report on Wednesday, May 8th. UBS Group raised shares of Coupang from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $18.50 to $26.00 in a research report on Thursday, May 16th. Finally, TheStreet raised shares of Coupang from a “d+” rating to a “c-” rating in a research report on Tuesday, March 5th. One investment analyst has rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, Coupang currently has a consensus rating of “Moderate Buy” and a consensus target price of $26.67.

Coupang Price Performance

The stock’s 50-day moving average is $22.22 and its 200 day moving average is $18.49. The stock has a market capitalization of $36.46 billion, a PE ratio of 29.13, a P/E/G ratio of 8.44 and a beta of 1.12. The company has a quick ratio of 0.89, a current ratio of 1.15 and a debt-to-equity ratio of 0.67.

Coupang (NYSE:CPNG) last announced its quarterly earnings data on Tuesday, May 7th. The company reported $0.05 EPS for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.01). Coupang had a net margin of 4.96% and a return on equity of 13.59%. The company had revenue of $7.11 billion for the quarter, compared to analysts’ expectations of $6.95 billion. During the same period in the previous year, the firm posted $0.05 earnings per share. The business’s revenue for the quarter was up 22.6% on a year-over-year basis. As a group, equities analysts predict that Coupang, Inc. will post 0.13 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. WCM Investment Management LLC lifted its stake in Coupang by 2,250.9% in the first quarter. WCM Investment Management LLC now owns 44,926,485 shares of the company’s stock valued at $799,242,000 after acquiring an additional 43,015,433 shares during the last quarter. Baillie Gifford & Co. lifted its stake in Coupang by 21.6% in the fourth quarter. Baillie Gifford & Co. now owns 145,524,128 shares of the company’s stock valued at $2,356,036,000 after acquiring an additional 25,843,034 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its stake in Coupang by 31.5% in the first quarter. Price T Rowe Associates Inc. MD now owns 78,865,294 shares of the company’s stock valued at $1,403,015,000 after acquiring an additional 18,894,909 shares during the last quarter. Norges Bank acquired a new stake in Coupang in the fourth quarter valued at approximately $250,714,000. Finally, Pacer Advisors Inc. lifted its stake in Coupang by 104,032.2% in the fourth quarter. Pacer Advisors Inc. now owns 10,944,299 shares of the company’s stock valued at $177,188,000 after acquiring an additional 10,933,789 shares during the last quarter. 83.72% of the stock is owned by hedge funds and other 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.