Coupang (NYSE:CPNG) Director Acquires $56,040,000.00 in Stock

by · The Markets Daily

Coupang, Inc. (NYSE:CPNG – Get Free Report) Director Neil Mehta bought 3,000,000 shares of the business’s stock in a transaction on Thursday, March 12th. The stock was acquired at an average cost of $18.68 per share, for a total transaction of $56,040,000.00. Following the completion of the transaction, the director owned 52,978,114 shares in the company, valued at $989,631,169.52. This represents a 6.00% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

Neil Mehta also recently made the following trade(s):

  • On Friday, March 13th, Neil Mehta bought 2,332,863 shares of Coupang stock. The stock was purchased at an average price of $18.40 per share, with a total value of $42,924,679.20.
  • On Wednesday, March 11th, Neil Mehta purchased 2,017,241 shares of Coupang stock. The stock was acquired at an average cost of $18.64 per share, with a total value of $37,601,372.24.

Coupang Stock Performance

CPNG traded down $0.09 during trading on Friday, reaching $18.46. 17,422,404 shares of the company were exchanged, compared to its average volume of 25,014,828. The stock has a market cap of $33.71 billion, a P/E ratio of 153.80 and a beta of 1.20. The firm has a 50 day moving average of $19.58 and a 200 day moving average of $25.75. Coupang, Inc. has a 52 week low of $16.74 and a 52 week high of $34.08. The company has a current ratio of 1.04, a quick ratio of 0.79 and a debt-to-equity ratio of 0.14.

Coupang (NYSE:CPNG – Get Free Report) last announced its earnings results on Thursday, February 26th. The company reported ($0.01) earnings per share for the quarter, missing the consensus estimate of $0.02 by ($0.03). Coupang had a net margin of 0.60% and a return on equity of 4.52%. The business had revenue of $8.84 billion for the quarter, compared to the consensus estimate of $9.12 billion. During the same period in the previous year, the firm earned $0.04 EPS. The firm’s revenue was up 10.9% on a year-over-year basis. On average, sell-side analysts forecast that Coupang, Inc. will post 0.17 EPS for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Massachusetts Financial Services Co. MA boosted its position in shares of Coupang by 2.9% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 11,215,142 shares of the company’s stock worth $361,128,000 after purchasing an additional 318,115 shares during the last quarter. TRB Advisors LP acquired a new stake in Coupang during the 3rd quarter worth approximately $1,863,000. New York State Common Retirement Fund lifted its position in Coupang by 18.5% in the 3rd quarter. New York State Common Retirement Fund now owns 728,861 shares of the company’s stock valued at $23,469,000 after acquiring an additional 113,950 shares in the last quarter. Rit Capital Partners PLC boosted its position in shares of Coupang by 3.5% during the third quarter. Rit Capital Partners PLC now owns 2,700,750 shares of the company’s stock worth $86,937,000 after buying an additional 91,550 shares during the period. Finally, Vanguard Group Inc. grew its stake in shares of Coupang by 343.5% during the 3rd quarter. Vanguard Group Inc. now owns 28,595,825 shares of the company’s stock worth $920,786,000 after acquiring an additional 22,147,432 shares in the last quarter. 83.72% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

CPNG has been the subject of a number of analyst reports. UBS Group set a $25.00 target price on shares of Coupang in a report on Thursday, February 19th. Sanford C. Bernstein reissued an “underperform” rating on shares of Coupang in a research note on Monday, March 2nd. Deutsche Bank Aktiengesellschaft raised shares of Coupang from a “hold” rating to a “buy” rating and set a $25.00 target price on the stock in a research report on Friday, January 16th. Weiss Ratings lowered shares of Coupang from a “hold (c)” rating to a “sell (d+)” rating in a research note on Monday, March 2nd. Finally, Morgan Stanley cut their price target on Coupang from $31.00 to $29.00 and set an “overweight” rating for the company in a report on Monday, March 2nd. Six equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and two have given a Sell rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $26.70.

View Our Latest Report on CPNG

Coupang Company Profile

(Get Free Report)

Coupang, listed on the New York Stock Exchange under the ticker CPNG, is a South Korean e-commerce company headquartered in Seoul. Founded in 2010 by Bom Kim, the company grew rapidly by combining an online marketplace with a large direct-retail business model. Coupang completed a primary listing in the United States in 2021, and it has become one of South Korea’s leading online retailers by focusing on convenience, speed and a wide product assortment across consumer categories.

The company operates a vertically integrated e-commerce platform that includes a customer-facing marketplace and an extensive logistics and fulfillment network.

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