The buying and selling of stock by a company’s insider give investors a sense that the stock will rise or fall in the future. Coupang Inc. shares valued at $498,083 were purchased by Warsh Kevin M on May 18. At $13.21 per share, Warsh Kevin M acquired 37,705 shares. The insider’s holdings grew to 396,739 shares worth approximately $4.68 million following the completion of this transaction.
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Also, Sun Benjamin sold 250,000 shares, netting a total of over 3,285,000 in proceeds. Following the sale of shares at $13.14 each, the insider now holds 753,162 shares.
Before that, Warsh Kevin M had added 38,372 shares to its account. In a trade valued at $504,208, the Director bought Coupang Inc. shares for $13.14 each. Upon closing the transaction, the insider’s holdings increased to 38,372 shares, worth approximately $4.24 million.
As published in a research note from Citigroup on May 12, 2022, Coupang Inc. [CPNG] has been rated up from a Neutral to a Buy and the price target has been revised to $15 from $29. This represents a 21.33% premium over Wednesday’s closing price. Analysts at JP Morgan upgraded the stock from ‘”a Neutral”‘ to ‘”an Overweight”‘ outlook in a report released in early May. As of March 22, 2022, Deutsche Bank has increased its “Hold” rating to a “Buy” for CPNG. Earlier on March 09, 2022, UBS upgraded its rating. Their new recommendation was “a Buy” for CPNG stock which previously was a “a Neutral”.
Analyzing CPNG’s Price Performance
On Wednesday, Coupang Inc. [NYSE: CPNG] plunged -4.53% to $11.80. The stock’s lowest price that day was $11.79, but it reached a high of $12.375 in the same session. During the last five days, there has been a surge of approximately 5.92%. Over the course of the year, Coupang Inc. shares have dropped approximately -59.84%. Shares of the company reached a 52-week high of $29.65 on 01/03/22 and a 52-week low of $8.98 on 05/11/22. A 50-day SMA is recorded $13.18, while a 200-day SMA reached $22.13. Nevertheless, trading volume fell to 8.34 million shares from 7.4 million shares the previous day.
Support And Resistance Levels for Coupang Inc. (CPNG)
According to the 24-hour chart, there is a support level at 11.60, which, if violated, would cause prices to drop to 11.40. In the upper region, resistance lies at 12.19. The next price resistance is at 12.57. RSI (Relative Strength Index) is 45.02 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -0.01, which suggests the price will decrease in the coming days. Percent R is at 54.66%, indicating low price movement. Stochastics %K at holding indicates that the stock is to be held.
Which companies own the most shares of Coupang Inc. (CPNG)?
According to Baillie Gifford & Co. filings, the company currently owns 110,367,002 shares, which is about 6.95% of the total CPNG shares outstanding. The investor’s shares have appreciated by 45,751,780 from its previous 13-F filing of 64615222.0 shares. With the completion of the buy, Morgan Stanley Investment Managem’s stake is now worth $1,416,907,333. Maverick Capital Ltd. reduced a -8.92% interest valued at $1.17 billion while Capital Research & Management Co sold a -92,487 stake. A total of 3,598,578 shares of Coupang Inc. were sold by T. Rowe Price Associates, Inc. during the quarter, and -18,072,802 were sold by Rose Park Advisors LLC. In its current portfolio, Morgan Stanley Investment Managem holds 29,722,757 shares valued at $401.55 million.
In terms of Coupang Inc. share price expectations, FactSet research, analysts set an average price target of $21.50 in the next 12 months, up nearly 61.81% from the previous closing price of $12.36. Analysts anticipate Coupang Inc. stock to reach $37.00 by 2022, with the lowest price target being $14.00. In spite of this, 10 analysts ranked Coupang Inc. stock as an Overweight at the end of 2022.