Coupang (NYSE:CPNG) Upgraded at Citigroup

Citigroup upgraded shares of Coupang (NYSE:CPNG) from a neutral rating to a buy rating in a research report report published on Monday, MarketBeat reports. Citigroup currently has $26.00 target price on the stock, up from their previous target price of $19.00.

A number of other research firms have also recently weighed in on CPNG. Barclays raised their price objective on shares of Coupang from $24.00 to $25.00 and gave the stock an overweight rating in a report on Thursday, February 29th. Deutsche Bank Aktiengesellschaft raised shares of Coupang from a hold rating to a buy rating and raised their price objective for the stock from $18.50 to $21.00 in a report on Thursday, February 29th. UBS Group cut shares of Coupang from a buy rating to a neutral rating and cut their price objective for the stock from $26.00 to $18.50 in a report on Wednesday, December 20th. Finally, TheStreet upgraded shares of Coupang from a d+ rating to a c- rating in a research report on Tuesday, March 5th. One equities research analyst has rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of Moderate Buy and an average price target of $22.42.

Coupang Stock Up 0.5 %

Shares of NYSE:CPNG opened at $22.63 on Monday. The firm’s 50 day moving average price is $17.92 and its 200 day moving average price is $16.73. The stock has a market cap of $40.57 billion, a price-to-earnings ratio of 30.17 and a beta of 1.32. Coupang has a fifty-two week low of $13.51 and a fifty-two week high of $22.89. The company has a quick ratio of 0.90, a current ratio of 1.14 and a debt-to-equity ratio of 0.13.

Coupang (NYSE:CPNG) last issued its earnings results on Tuesday, February 27th. The company reported $0.08 earnings per share for the quarter, beating the consensus estimate of $0.05 by $0.03. Coupang had a net margin of 5.57% and a return on equity of 15.04%. The firm had revenue of $6.56 billion for the quarter, compared to analysts’ expectations of $6.40 billion. During the same quarter last year, the company earned $0.06 earnings per share. The firm’s revenue was up 23.2% compared to the same quarter last year. As a group, equities research analysts predict that Coupang will post 0.29 earnings per share for the current fiscal year.

Insider Transactions at Coupang

In other news, insider Pranam Kolari sold 2,356 shares of the firm’s stock in a transaction that occurred on Friday, February 2nd. The shares were sold at an average price of $13.88, for a total transaction of $32,701.28. Following the transaction, the insider now directly owns 182,844 shares in the company, valued at $2,537,874.72. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, major shareholder Svf Investments (Uk) Ltd sold 31,614,154 shares of Coupang stock in a transaction on Tuesday, March 12th. The shares were sold at an average price of $19.01, for a total value of $600,985,067.54. Following the transaction, the insider now directly owns 364,542,259 shares in the company, valued at approximately $6,929,948,343.59. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Pranam Kolari sold 2,356 shares of Coupang stock in a transaction on Friday, February 2nd. The shares were sold at an average price of $13.88, for a total transaction of $32,701.28. Following the completion of the transaction, the insider now owns 182,844 shares in the company, valued at $2,537,874.72. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 33,355,590 shares of company stock worth $633,443,979. Insiders own 14.90% of the company’s stock.

Institutional Investors Weigh In On Coupang

Several institutional investors have recently made changes to their positions in CPNG. Eagle Bay Advisors LLC acquired a new position in shares of Coupang during the 2nd quarter worth $26,000. Headinvest LLC acquired a new position in shares of Coupang during the 3rd quarter worth $29,000. Altshuler Shaham Ltd acquired a new position in shares of Coupang during the 4th quarter worth $36,000. Comerica Bank acquired a new position in shares of Coupang during the 3rd quarter worth $43,000. Finally, Register Financial Advisors LLC acquired a new position in shares of Coupang during the 1st quarter worth $50,000. 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.