Coupang Inc. [CPNG] stock for 3,652,000 USD was sold by GREENOAKS CAPITAL PARTNERS LLC


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 $3,652,000 were sold by GREENOAKS CAPITAL PARTNERS LLC on Dec 08. At $18.26 per share, GREENOAKS CAPITAL PARTNERS LLC sold 200,000 shares. The insider’s holdings dropped to 70,651,928 shares worth approximately $1.04 billion following the completion of this transaction.

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Also, SVF Investments (UK) Ltd sold 35,000,000 shares, netting a total of over 647,500,000 in proceeds. Following the sale of shares at $18.50 each, the insider now holds 426,156,413 shares.

Before that, Sun Benjamin had sold 288,834 shares from its account. In a trade valued at $5,776,680, the Director traded Coupang Inc. shares for $20.00 each. Upon closing the transaction, the insider’s holdings decreased to 288,834 shares, worth approximately $6.87 million.

As published in a research note from Deutsche Bank on March 01, 2023, Coupang Inc. [CPNG] has been rated up from a Hold to a Buy and the price target has been revised to $20. This represents a 26.65% premium over Wednesday’s closing price. Analysts at Barclays started covering the stock with ‘”an Overweight”‘ outlook in a report released in early February. As of December 01, 2022, New Street has initiated its “Buy” rating for CPNG. Earlier on October 07, 2022, HSBC Securities initiated its rating. Their recommendation was “a Buy” for CPNG stock.

Analyzing CPNG Stock Performance

On Wednesday, Coupang Inc. [NYSE: CPNG] plunged -5.42% to $14.67. The stock’s lowest price that day was $14.29, but it reached a high of $15.40 in the same session. During the last five days, there has been a drop of approximately -1.81%. Over the course of the year, Coupang Inc. shares have dropped approximately -0.27%. Shares of the company reached a 52-week high of $18.50 on 01/11/23 and a 52-week low of $14.29 on 03/01/23. A 50-day SMA is recorded $16.05, while a 200-day SMA reached $16.42. Nevertheless, trading volume fell to 17.1 million shares from 10.68 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 14.17, which, if violated, would cause prices to drop to 13.68. In the upper region, resistance lies at 15.28. The next price resistance is at 15.90. RSI (Relative Strength Index) is 39.09 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -0.29, which suggests the price will decrease in the coming days. Percent R is at 86.13%, 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 Jan 30, 2023 dropping by -6.75 million shares to 18.31 million. Data from Yahoo Finance shows that the short interest on Dec 29, 2022 was 25.06 million shares. A decline of -36.87% in short interest reflects a negative sentiment towards the stock. Despite the fact that short shares comprise just 2.81 of the overall float, the days-to-cover ratio (short ratio) decline to 2.81.

Which companies own the most shares of Coupang Inc. (CPNG)?

According to Baillie Gifford & Co. filings, the company currently owns 115,176,100 shares, which is about 7.22% of the total CPNG shares outstanding. The investor’s shares have appreciated by 6,742,347 from its previous 13-F filing of 108433753.0 shares. With the completion of the sale transaction, Morgan Stanley Investment Managem’s stake is now worth $1,396,750,388. Maverick Capital Ltd. reduced a -6.21% interest valued at $1.29 billion while Capital Research & Management Co purchased a 7,664 stake. A total of 1,090,536 shares of Coupang Inc. were bought by T. Rowe Price Associates, Inc. during the quarter, and -457,792 were sold by Morgan Stanley Investment Managem. In its current portfolio, MIT Investment Management Co. holds 28,703,675 shares valued at $484.81 million.


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