Coupang Inc. (CPNG) may enjoy gains as insiders got busy in the recent days


Coupang Inc.’s recent filing unveils that its Chief Technology Officer Pham Thuan unloaded Company’s shares for reported $2762.0 on Jul 07. In the deal valued at $16.15 per share,171 shares were sold. As a result of this transaction, Pham Thuan now holds 2,558,769 shares worth roughly $ 45.37 million.

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Then, Pham Thuan sold 120,038 shares, generating $1,712,942 in total proceeds. Upon selling the shares at $14.27, the Chief Technology Officer now owns 2,558,940 shares.

Before that, Warsh Kevin M bought 37,705 shares. Coupang Inc. shares valued at $498,083 were divested by the Director at a price of $13.21 per share. As a result of the transaction, Warsh Kevin M now holds 396,739 shares, worth roughly $7.03 million.

HSBC Securities initiated its Coupang Inc. [CPNG] rating to a Buy in a research note published on Monday, October 07, 2022; the price target was $27.80. PT values the company’s stock at a premium of 36.22 to its Monday closing price. A number of analysts have revised their coverage, including CLSA’s analysts, who decreased its forecast for the stock in mid August from “an Outperform” to “a Sell”. Deutsche Bank also remained covering CPNG and has decreased its forecast on August 11, 2022 with a “Hold” recommendation from previously “Buy” rating. Macquarie started covering the stock on August 09, 2022. It rated CPNG as “an Outperform”.

Price Performance Review of CPNG

On Monday, Coupang Inc. [NYSE:CPNG] saw its stock jump 3.93% to $17.73. On the same session, the stock had its day’s lowest price of $17.51, but rose to a high of $18.56. Over the last five days, the stock has gained 2.66%. Coupang Inc. shares have fallen nearly -39.65% since the year began. Nevertheless, the stocks have fallen -40.76% over the past one year. While a 52-week high of $30.65 was reached on 01/03/22, a 52-week low of $8.98 was recorded on 05/11/22. SMA at 50 days reached $17.33, while 200 days put it at $17.02. A total of 9.68 million shares were traded, compared to the trading of 4.36 million shares in the previous session.

Levels Of Support And Resistance For CPNG Stock

The 24-hour chart illustrates a support level at 17.31, which if violated will result in even more drops to 16.88. On the upside, there is a resistance level at 18.36. A further resistance level may holdings at 18.98. The Relative Strength Index (RSI) on the 14-day chart is 54.54, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 0.60, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bullish at 22.87%. Stochastics %K at 70.98% indicates the stock is a holding.

How much short interest is there in Coupang Inc.?

A steep rise in short interest was recorded in Coupang Inc. stocks on Jul 14, 2022, dropping by -1.37 million shares to a total of 44.01 million shares. Yahoo Finance data shows the prior-month short interest on Jun 14, 2022 was 45.38 million shares. There was a decline of -3.11%, which implies that there is a negative sentiment for the stock. In spite of short shares comprising just 4.35% of the overall stock float, the days-to-cover ratio (short ratio) fell to 4.76.

Coupang Inc. [CPNG] – Who Are The Largest Shareholders?

In filings from Baillie Gifford & Co., it is revealed that the company now owns 108,433,753 shares, or roughly 6.81% of the outstanding CPNG shares. In other words, the investor’s shares have risen by 79,319 from its previous 13-F filing of 108354434.0. Additionally, Morgan Stanley Investment Managem decreased -3.79% of its stake after which the total value it holdings stand at $1,682,136,793, while Maverick Capital Ltd. reduced -2.10% of its stake to hold $1.41 billion in the firm. Over the last quarter, Capital Research & Management Co purchased 5,104,455 shares of Coupang Inc., while T. Rowe Price Associates, Inc. bought 5,919,724 shares. At present, Morgan Stanley Investment Managem is holding 34,007,238 shares valued at $566.9 million. Fidelity Management & Research Co owned 25,220,850 shares of the company at the time of its most recent 13F filing, worth $420.43 million.

According to FactSet, Coupang Inc.’s share price will average $23.23 in the next year, based on opinions of analysts polled by the firm. This is up nearly 46.54 percent from its previous closing price of $17.06. Analysts expect Coupang Inc. stock to reach the higher price of $30.00, while the lowest price estimate is $9.90. However, 16 analysts have rated CPNG stock as an Overweight in their predictions for 2022.


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