Coupang, Inc. (NYSE:CPNG) Receives $27.56 Average PT from Brokerages

Shares of Coupang, Inc. (NYSE:CPNG) have received a consensus recommendation of “Moderate Buy” from the nine research firms that are presently covering the firm, Marketbeat.com reports. One research analyst has rated the stock with a hold recommendation and eight have issued a buy recommendation on the company. The average 1 year price target among brokerages that have issued ratings on the stock in the last year is $27.56.

Several equities research analysts have weighed in on CPNG shares. Sanford C. Bernstein raised shares of Coupang from an “underperform” rating to an “outperform” rating and set a $30.00 price target for the company in a research report on Monday, October 7th. Citigroup reduced their price objective on shares of Coupang from $31.00 to $28.00 and set a “buy” rating for the company in a research note on Wednesday.

Coupang Stock Down 4.1 %

Shares of NYSE:CPNG opened at $21.36 on Wednesday. The company has a quick ratio of 0.86, a current ratio of 1.13 and a debt-to-equity ratio of 0.28. The business’s 50 day moving average is $23.77 and its 200 day moving average is $23.25. Coupang has a 12-month low of $13.51 and a 12-month high of $26.91. The stock has a market cap of $38.42 billion, a price-to-earnings ratio of 37.47, a PEG ratio of 215.03 and a beta of 1.10.

Coupang (NYSE:CPNG) last posted its quarterly earnings results on Tuesday, November 5th. The company reported $0.06 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.01 by $0.05. Coupang had a net margin of 3.57% and a return on equity of 11.52%. The company had revenue of $7.87 billion for the quarter, compared to analyst estimates of $7.76 billion. During the same quarter in the previous year, the firm posted $0.05 earnings per share. The company’s quarterly revenue was up 27.2% compared to the same quarter last year. On average, sell-side analysts forecast that Coupang will post 0.11 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director Greenoaks Capital Partners Llc purchased 687,700 shares of the company’s stock in a transaction that occurred on Monday, November 11th. The shares were purchased at an average price of $24.08 per share, with a total value of $16,559,816.00. Following the purchase, the director now owns 52,726,423 shares of the company’s stock, valued at $1,269,652,265.84. The trade was a 1.32 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Bom Kim sold 15,000,000 shares of Coupang stock in a transaction on Monday, November 11th. The shares were sold at an average price of $22.97, for a total transaction of $344,550,000.00. Following the completion of the sale, the chief executive officer now directly owns 2,000,000 shares in the company, valued at $45,940,000. This represents a 88.24 % decrease in their position. The disclosure for this sale can be found here. 13.60% of the stock is owned by insiders.

Institutional Trading of Coupang

Institutional investors and hedge funds have recently bought and sold shares of the stock. Brooklyn Investment Group acquired a new position in shares of Coupang during the third quarter worth about $28,000. Asset Dedication LLC boosted its holdings in Coupang by 438.1% in the third quarter. Asset Dedication LLC now owns 1,216 shares of the company’s stock valued at $30,000 after purchasing an additional 990 shares in the last quarter. Van ECK Associates Corp boosted its holdings in Coupang by 63.1% in the third quarter. Van ECK Associates Corp now owns 1,251 shares of the company’s stock valued at $32,000 after purchasing an additional 484 shares in the last quarter. Wolff Wiese Magana LLC boosted its holdings in Coupang by 330.4% in the third quarter. Wolff Wiese Magana LLC now owns 1,687 shares of the company’s stock valued at $41,000 after purchasing an additional 1,295 shares in the last quarter. Finally, Signaturefd LLC boosted its holdings in Coupang by 438.9% in the third quarter. Signaturefd LLC now owns 2,371 shares of the company’s stock valued at $58,000 after purchasing an additional 1,931 shares in the last quarter. 83.72% of the stock is currently owned by hedge funds and other institutional investors.

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.