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

Coupang, Inc. (NYSE:CPNG) Director Benjamin Sun sold 250,000 shares of the stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $23.43, for a total transaction of $5,857,500.00. Following the transaction, the director now directly owns 1,719,421 shares in the company, valued at $40,286,034.03. The trade was a 12.69 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link.

Coupang Trading Down 0.9 %

Shares of NYSE CPNG opened at $23.34 on Friday. Coupang, Inc. has a 1-year low of $17.34 and a 1-year high of $26.91. The company has a market cap of $42.13 billion, a PE ratio of 40.94, a P/E/G ratio of 52.20 and a beta of 1.10. The company has a current ratio of 1.13, a quick ratio of 0.86 and a debt-to-equity ratio of 0.28. The company has a 50-day moving average of $23.36 and a two-hundred day moving average of $23.91.

Institutional Investors Weigh In On Coupang

A number of institutional investors and hedge funds have recently modified their holdings of CPNG. Wingate Wealth Advisors Inc. bought a new stake in Coupang in the fourth quarter valued at approximately $26,000. Brooklyn Investment Group bought a new stake in Coupang in the third quarter valued at approximately $28,000. Berbice Capital Management LLC bought a new stake in Coupang in the fourth quarter valued at approximately $31,000. Itau Unibanco Holding S.A. increased its stake in Coupang by 520.6% in the fourth quarter. Itau Unibanco Holding S.A. now owns 1,955 shares of the company’s stock valued at $43,000 after purchasing an additional 1,640 shares in the last quarter. Finally, Allworth Financial LP increased its stake in Coupang by 11,033.3% in the fourth quarter. Allworth Financial LP now owns 2,004 shares of the company’s stock valued at $45,000 after purchasing an additional 1,986 shares in the last quarter. 83.72% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

CPNG has been the topic of a number of recent research reports. Mizuho raised their target price on shares of Coupang from $25.00 to $27.00 and gave the stock a “neutral” rating in a report on Wednesday, February 26th. Barclays set a $35.00 price objective on shares of Coupang and gave the company an “overweight” rating in a research note on Thursday, February 27th. Deutsche Bank Aktiengesellschaft upgraded shares of Coupang from a “hold” rating to a “buy” rating and set a $28.50 target price for the company in a report on Wednesday, February 26th. Finally, Citigroup decreased 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, January 8th. One equities research analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $29.17.

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.