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Insider Buying: GREENOAKS CAPITAL PARTNERS LLC, Coupang Inc [CPNG] Director invested 298,550 shares

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 $6,650,440 were purchased by GREENOAKS CAPITAL PARTNERS LLC on May 14 ’24. At $22.28 per share, GREENOAKS CAPITAL PARTNERS LLC acquired 298,550 shares. The insider’s holdings grew to 48,924,924 shares worth approximately $1.1 billion following the completion of this transaction.

Also, GREENOAKS CAPITAL PARTNERS LLC purchased 500,000 shares, netting a total of over 11,029,950 in proceeds. Following the buying of shares at $22.06 each, the insider now holds 48,626,374 shares.

Before that, GREENOAKS CAPITAL PARTNERS LLC had added 120,239 shares to its account. In a trade valued at $2,709,057, the Director bought Coupang Inc shares for $22.53 each. Upon closing the transaction, the insider’s holdings increased to 120,239 shares, worth approximately $1.08 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 surge of approximately 4.94%. Over the course of the year, Coupang Inc shares have jumped approximately 39.10%. 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 $20.35, while a 200-day SMA reached $17.65. Nevertheless, trading volume fell to 7.27 million shares from 6.67 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 22.32, which, if violated, would cause prices to drop to 22.11. In the upper region, resistance lies at 22.69. The next price resistance is at 22.85. RSI (Relative Strength Index) is 56.87 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -0.25, which suggests the price will decrease in the coming days. Percent R is at 47.53%, indicating low price movement. Stochastics %K at holding indicates that the stock is to be held.

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