Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. Coupang Inc. shares valued at $2,762 were sold by Pham Thuan on Jul 07. At $16.15 per share, Pham Thuan sold 171 shares. The insider’s holdings dropped to 2,558,769 shares worth approximately $42.86 million following the completion of this transaction.
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Also, Pham Thuan sold 120,038 shares, netting a total of over 1,712,942 in proceeds. Following the sale of shares at $14.27 each, the insider now holds 2,558,940 shares.
Before that, Warsh Kevin M had added 37,705 shares to its account. In a trade valued at $498,083, the Director bought Coupang Inc. shares for $13.21 each. Upon closing the transaction, the insider’s holdings increased to 37,705 shares, worth approximately $6.65 million.
As published in a research note from CLSA on August 16, 2022, Coupang Inc. [CPNG] has been rated down from an Outperform to a Sell and the price target has been revised to $16.40. This represents a -2.13% premium over Thursday’s closing price. Analysts at Deutsche Bank downgraded the stock from ‘”a Buy”‘ to ‘”a Hold”‘ outlook in a report released in mid August. As of August 09, 2022, Macquarie has initiated its “an Outperform” rating for CPNG. Earlier on July 01, 2022, Credit Suisse upgraded its rating. Their new recommendation was “an Outperform” for CPNG stock which previously was a “a Neutral”.
Analyzing CPNG’s Price Performance
On Thursday, Coupang Inc. [NYSE: CPNG] plunged -1.41% to $16.75. The stock’s lowest price that day was $16.53, but it reached a high of $17.18 in the same session. During the last five days, there has been a drop of approximately -8.57%. Over the course of the year, Coupang Inc. shares have dropped approximately -42.99%. 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 $17.66, while a 200-day SMA reached $18.44. Nevertheless, trading volume fell to 4.98 million shares from 3.66 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 16.46, which, if violated, would cause prices to drop to 16.17. In the upper region, resistance lies at 17.11. The next price resistance is at 17.47. RSI (Relative Strength Index) is 44.22 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -0.25, which suggests the price will decrease in the coming days. Percent R is at 73.91%, indicating bearish price movement. Stochastics %K at holding indicates that the stock is to be held.
Is Coupang Inc. subject to short interest?
Stocks of Coupang Inc. saw a sharp steep in short interest on Jul 14, 2022 dropping by -1.37 million shares to 44.01 million. Data from Yahoo Finance shows that the short interest on Jun 14, 2022 was 45.38 million shares. A decline of -3.11% in short interest reflects a negative sentiment towards the stock. Despite the fact that short shares comprise just 4.76 of the overall float, the days-to-cover ratio (short ratio) decline to 4.76.
Which companies own the most shares of Coupang Inc. (CPNG)?
According to Baillie Gifford & Co. filings, the company currently owns 108,354,434 shares, which is about 6.81% of the total CPNG shares outstanding. The investor’s shares have plunged by -2,012,568 from its previous 13-F filing of 110367002.0 shares. With the completion of the sale transaction, Morgan Stanley Investment Managem’s stake is now worth $1,705,345,639. Maverick Capital Ltd. reduced a -2.10% interest valued at $1.43 billion while Capital Research & Management Co purchased a 5,104,455 stake. A total of 5,919,724 shares of Coupang Inc. were bought by T. Rowe Price Associates, Inc. during the quarter, and 4,284,481 were bought by Morgan Stanley Investment Managem. In its current portfolio, Fidelity Management & Research Co holds 25,220,850 shares valued at $426.23 million.
In spite of this, 13 analysts ranked Coupang Inc. stock as an Overweight at the end of 2022. On June 29, 2022, Morgan Stanley assigned a price target of “an Overweight” to the stock and initiated coverage with a $18.