Coupang Inc’s recently made public that its insider Kolari Pranam unloaded Company’s shares for reported $45752.0 on May 02 ’24. In the deal valued at $22.34 per share,2,048 shares were sold. As a result of this transaction, Kolari Pranam now holds 187,951 shares worth roughly $4.32 million.
Then, Rogers Harold sold 139,080 shares, generating $2,538,210 in total proceeds. Upon selling the shares at $18.25, the insider now owns 394,192 shares.
Before that, MEHTA NEIL sold 1,600,000 shares. Coupang Inc shares valued at $29,894,831 were divested by the Director at a price of $18.68 per share. As a result of the transaction, MEHTA NEIL now holds 48,006,135 shares, worth roughly $1.1 billion.
A number of analysts have revised their coverage, including Citigroup’s analysts, who increased its forecast for the stock in mid April from “a Neutral” to “a Buy”. Deutsche Bank also remained covering CPNG and has increased its forecast on February 29, 2024 with a “Buy” recommendation from previously “Hold” rating. Citigroup revised its rating on January 16, 2024. It rated CPNG as “a Neutral” which previously was an “a Buy”.
Price Performance Review of CPNG
On Friday, Coupang Inc [NYSE:CPNG] saw its stock jump 2.22% to $23.00. Over the last five days, the stock has gained 0.39%. Coupang Inc shares have risen nearly 42.06% since the year began. Nevertheless, the stocks have risen 35.69% over the past one year. While a 52-week high of $23.40 was reached on 04/26/24, a 52-week low of $13.51 was recorded on 02/02/24. SMA at 50 days reached $19.62, while 200 days put it at $17.44. A total of 11.68 million shares were traded, compared to the trading of 8.63 million shares in the previous session.
Levels Of Support And Resistance For CPNG Stock
The 24-hour chart illustrates a support level at 22.72, which if violated will result in even more drops to 22.43. On the upside, there is a resistance level at 23.15. A further resistance level may holdings at 23.30. The Relative Strength Index (RSI) on the 14-day chart is 70.02, which indicates overbought technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -0.05, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bullish at 19.42%. Stochastics %K at 65.52% indicates the stock is a holding.
