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

Coupang, Inc. (NYSE:CPNG)’s stock price reached a new 52-week high on Thursday . The stock 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.

Wall Street Analysts Forecast Growth

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

Coupang Stock Up 1.2 %

The business has a 50-day simple moving average of $21.98 and a two-hundred day simple moving average of $21.28. The stock has a market capitalization of $43.73 billion, a P/E ratio of 34.90, a PEG ratio of 171.76 and a beta of 1.10. The company has a quick ratio of 0.87, a current ratio of 1.12 and a debt-to-equity ratio of 0.72.

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

Insider Buying and Selling at Coupang

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

Hedge Funds Weigh In On Coupang

Several large investors have recently made changes to their positions in CPNG. GAMMA Investing LLC lifted its stake in Coupang by 308.2% in the second quarter. GAMMA Investing LLC now owns 1,947 shares of the company’s stock valued at $41,000 after buying an additional 1,470 shares during the period. Register Financial Advisors LLC acquired a new position in Coupang in the first quarter valued at about $50,000. Opal Wealth Advisors LLC acquired a new position in Coupang in the second quarter valued at about $74,000. Benjamin F. Edwards & Company Inc. lifted its stake in Coupang by 360.6% in the second quarter. Benjamin F. Edwards & Company Inc. now owns 4,118 shares of the company’s stock valued at $86,000 after buying an additional 3,224 shares during the period. Finally, V Square Quantitative Management LLC acquired a new position in Coupang in the second quarter valued at about $89,000. Institutional investors and hedge funds 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.