Coupang Inc’s filing revealed that its insider Rogers Harold unloaded Company’s shares for reported $2.54 million on Mar 18 ’24. In the deal valued at $18.25 per share,139,080 shares were sold. As a result of this transaction, Rogers Harold now holds 394,192 shares worth roughly $8.38 million.
Then, MEHTA NEIL sold 1,600,000 shares, generating $29,894,831 in total proceeds. Upon selling the shares at $18.68, the Director now owns 48,006,135 shares.
Before that, SVF Investments (UK) Ltd sold 15,000,000 shares. Coupang Inc shares valued at $294,000,000 were divested by the 10% Owner at a price of $19.60 per share. As a result of the transaction, SVF Investments (UK) Ltd now holds 349,542,259 shares, worth roughly $7.43 billion.
Deutsche Bank upgraded its Coupang Inc [CPNG] rating to a Buy from a a Hold in a research note published on February 29, 2024; the price target was increased to $21 from $18.50. A number of analysts have revised their coverage, including Citigroup’s analysts, who decreased its forecast for the stock in mid January from “a Buy” to “a Neutral”. UBS also remained covering CPNG and has decreased its forecast on December 20, 2023 with a “Neutral” recommendation from previously “Buy” rating. Deutsche Bank revised its rating on August 09, 2023. It rated CPNG as “a Hold” which previously was an “a Buy”.
Price Performance Review of CPNG
On Friday, Coupang Inc [NYSE:CPNG] saw its stock jump 11.49% to $21.25. Over the last five days, the stock has gained 16.50%. Coupang Inc shares have risen nearly 31.25% since the year began. Nevertheless, the stocks have risen 40.45% over the past one year. While a 52-week high of $19.99 was reached on 04/12/24, a 52-week low of $13.51 was recorded on 02/02/24. SMA at 50 days reached $17.32, while 200 days put it at $17.05. A total of 50.93 million shares were traded, compared to the trading of 10.82 million shares in the previous session.
Levels Of Support And Resistance For CPNG Stock
The 24-hour chart illustrates a support level at 20.66, which if violated will result in even more drops to 20.06. On the upside, there is a resistance level at 21.64. A further resistance level may holdings at 22.02. The Relative Strength Index (RSI) on the 14-day chart is 79.86, which indicates overbought technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 1.33, which suggests price will go up in the next trading period. Percent R suggests that price movement has been bullish at 4.40%. Stochastics %K at 91.60% indicates the stock is a selling.
