Brokerages Set Coupang, Inc. (NYSE:CPNG) Target Price at $29.17

Shares of Coupang, Inc. (NYSE:CPNG) have been given an average rating of “Moderate Buy” by the nine analysts that are covering the firm, Marketbeat Ratings reports. One equities research analyst has rated the stock with a hold rating and eight have issued a buy rating on the company. The average 1 year target price among brokers that have updated their coverage on the stock in the last year is $29.17.

Several brokerages have weighed in on CPNG. Barclays set a $35.00 target price on shares of Coupang and gave the stock an “overweight” rating in a research note on Thursday, February 27th. Deutsche Bank Aktiengesellschaft raised shares of Coupang from a “hold” rating to a “buy” rating and set a $28.50 price objective for the company in a research report on Wednesday, February 26th. Citigroup cut their target price on Coupang from $31.00 to $28.00 and set a “buy” rating on the stock in a research report on Wednesday, January 8th. Finally, Mizuho raised their price target on Coupang from $25.00 to $27.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 26th.

Insider Activity at Coupang

In other Coupang news, Director Benjamin Sun sold 250,000 shares of the stock in a transaction that occurred on Monday, March 17th. The shares were sold at an average price of $23.43, for a total value of $5,857,500.00. Following the sale, the director now directly owns 1,719,421 shares of the company’s stock, valued at approximately $40,286,034.03. This represents a 12.69 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, VP Pranam Kolari sold 8,459 shares of the stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $22.98, for a total value of $194,387.82. Following the completion of the transaction, the vice president now directly owns 136,806 shares in the company, valued at $3,143,801.88. This trade represents a 5.82 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 259,234 shares of company stock worth $6,069,015. Company insiders own 13.60% of the company’s stock.

Institutional Investors Weigh In On Coupang

Several hedge funds and other institutional investors have recently made changes to their positions in the business. California State Teachers Retirement System increased its stake in Coupang by 0.5% in the fourth quarter. California State Teachers Retirement System now owns 85,489 shares of the company’s stock valued at $1,879,000 after purchasing an additional 445 shares during the last quarter. Wealth Enhancement Advisory Services LLC boosted its holdings in shares of Coupang by 12.8% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 9,531 shares of the company’s stock valued at $209,000 after buying an additional 1,080 shares in the last quarter. Lansforsakringar Fondforvaltning AB publ purchased a new position in shares of Coupang in the 4th quarter valued at $1,882,000. Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in Coupang during the 4th quarter worth $19,237,000. Finally, United Advisor Group LLC lifted its position in Coupang by 21.8% in the fourth quarter. United Advisor Group LLC now owns 16,200 shares of the company’s stock valued at $356,000 after acquiring an additional 2,896 shares during the last quarter. Institutional investors and hedge funds own 83.72% of the company’s stock.

Coupang Price Performance

CPNG stock opened at $22.32 on Monday. Coupang has a 52-week low of $17.67 and a 52-week high of $26.91. The business has a fifty day moving average of $23.52 and a two-hundred day moving average of $23.94. The stock has a market cap of $40.29 billion, a price-to-earnings ratio of 39.15, a price-to-earnings-growth ratio of 52.20 and a beta of 1.10. The company has a quick ratio of 0.86, a current ratio of 1.13 and a debt-to-equity ratio of 0.28.

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.