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 $45,752 were sold by Kolari Pranam on May 02 ’24. At $22.34 per share, Kolari Pranam sold 2,048 shares. The insider’s holdings dropped to 187,951 shares worth approximately $4.03 million following the completion of this transaction.
Also, Rogers Harold sold 139,080 shares, netting a total of over 2,538,210 in proceeds. Following the sale of shares at $18.25 each, the insider now holds 394,192 shares.
Before that, MEHTA NEIL had sold 1,600,000 shares from its account. In a trade valued at $29,894,831, the Director traded Coupang Inc shares for $18.68 each. Upon closing the transaction, the insider’s holdings decreased to 1,600,000 shares, worth approximately $1.03 billion.
Analysts at Citigroup upgraded the stock from ‘”a Neutral”‘ to ‘”a Buy”‘ outlook in a report released in mid April. As of February 29, 2024, Deutsche Bank has increased its “Hold” rating to a “Buy” for CPNG. Earlier on January 16, 2024, Citigroup 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 drop of approximately -3.38%. Over the course of the year, Coupang Inc shares have jumped approximately 32.55%. Shares of the company reached a 52-week high of $23.77 on 05/07/24 and a 52-week low of $13.51 on 02/02/24. A 50-day SMA is recorded $19.99, while a 200-day SMA reached $17.53. Nevertheless, trading volume fell to 34.55 million shares from 10.85 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 21.09, which, if violated, would cause prices to drop to 20.71. In the upper region, resistance lies at 22.05. The next price resistance is at 22.63. RSI (Relative Strength Index) is 49.51 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 0.12, which suggests the price will decrease in the coming days. Percent R is at 93.52%, indicating bearish price movement. Stochastics %K at holding indicates that the stock is to be held.
