Coupang (NYSE:CPNG) Shares Gap Down – Here’s What Happened

Coupang, Inc. (NYSE:CPNG)’s share price gapped down prior to trading on Tuesday . The stock had previously closed at $24.85, but opened at $23.22. Coupang shares last traded at $22.80, with a volume of 7,517,483 shares changing hands.

Analyst Upgrades and Downgrades

CPNG has been the subject of several recent research reports. CLSA raised Coupang from a “hold” rating to an “outperform” rating and boosted their price objective for the stock from $18.00 to $31.00 in a report on Wednesday, September 4th. Sanford C. Bernstein raised shares of Coupang from an “underperform” rating to an “outperform” rating and set a $30.00 target price for the company in a report on Monday, October 7th. One analyst has rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $27.56.

Coupang Trading Down 4.7 %

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 stock has a market capitalization of $42.60 billion, a P/E ratio of 40.00, a price-to-earnings-growth ratio of 228.26 and a beta of 1.07. The company has a fifty day simple moving average of $25.10 and a two-hundred day simple moving average of $23.06.

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

Insider Transactions at Coupang

In other news, CEO Bom Kim sold 15,000,000 shares of the business’s stock in a transaction on Monday, November 11th. The shares were sold at an average price of $22.97, for a total value of $344,550,000.00. Following the sale, the chief executive officer now owns 2,000,000 shares of the company’s stock, valued at $45,940,000. The trade was a 88.24 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Greenoaks Capital Partners Llc bought 687,700 shares of Coupang stock in a transaction that occurred on Monday, November 11th. The shares were acquired at an average price of $24.08 per share, with a total value of $16,559,816.00. Following the acquisition, the director now directly 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 position. The disclosure for this purchase can be found here. 13.60% of the stock is owned by insiders.

Institutional Investors Weigh In On Coupang

Several institutional investors and hedge funds have recently added to or reduced their stakes in CPNG. Brooklyn Investment Group bought a new stake in shares of Coupang during the 3rd quarter worth approximately $28,000. Asset Dedication LLC lifted its position in shares of 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 buying an additional 990 shares during the last quarter. Van ECK Associates Corp boosted its stake in shares of Coupang by 63.1% during the 3rd quarter. Van ECK Associates Corp now owns 1,251 shares of the company’s stock worth $32,000 after acquiring an additional 484 shares during the period. Wolff Wiese Magana LLC boosted its stake in shares of Coupang by 330.4% during the 3rd quarter. Wolff Wiese Magana LLC now owns 1,687 shares of the company’s stock worth $41,000 after acquiring an additional 1,295 shares during the period. Finally, GAMMA Investing LLC increased its holdings in shares of Coupang by 308.2% during the 2nd quarter. GAMMA Investing LLC now owns 1,947 shares of the company’s stock worth $41,000 after acquiring an additional 1,470 shares during the last quarter. 83.72% of the stock is owned by 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.