Investors can expect a company’s stock to rise or fall based on the buying and selling of stock by its insiders. Coupang Inc shares valued at $2,538,210 were sold by Rogers Harold on Mar 18 ’24. At $18.25 per share, Rogers Harold sold 139,080 shares. The insider’s holdings dropped to 394,192 shares worth approximately $8.99 million following the completion of this transaction.
Also, MEHTA NEIL sold 1,600,000 shares, netting a total of over 29,894,831 in proceeds. Following the sale of shares at $18.68 each, the insider now holds 48,006,135 shares.
Before that, SVF Investments (UK) Ltd had sold 15,000,000 shares from its account. In a trade valued at $294,000,000, the 10% Owner traded Coupang Inc shares for $19.60 each. Upon closing the transaction, the insider’s holdings decreased to 15,000,000 shares, worth approximately $7.97 billion.
As published in a research note from Citigroup on April 15, 2024, Coupang Inc [CPNG] has been rated up from a Neutral to a Buy and the price target has been revised to $26 from $19. Analysts at Deutsche Bank upgraded the stock from ‘”a Hold”‘ to ‘”a Buy”‘ outlook in a report released in late February. As of January 16, 2024, Citigroup has decreased its “Buy” rating to a “Neutral” for CPNG. Earlier on December 20, 2023, UBS downgraded its rating. Their new recommendation was “a Neutral” for CPNG stock which previously was a “a Buy”.
Analyzing CPNG Stock Performance
During the last five days, there has been a surge of approximately 0.75%. Over the course of the year, Coupang Inc shares have jumped approximately 40.83%. Shares of the company reached a 52-week high of $22.97 on 04/23/24 and a 52-week low of $13.51 on 02/02/24. A 50-day SMA is recorded $18.61, while a 200-day SMA reached $17.27. Nevertheless, trading volume fell to 7.51 million shares from 13.1 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 22.51, which, if violated, would cause prices to drop to 22.22. In the upper region, resistance lies at 22.95. The next price resistance is at 23.10. RSI (Relative Strength Index) is 78.59 on the 14-day chart, showing overbought technical sentiment. Moving Average Convergence Divergence (MACD) is at 1.65, which suggests the price will increase in the coming days. Percent R is at 3.53%, indicating bullish price movement. Stochastics %K at selling indicates that the stock is to be held.
