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 $14,441,000 were sold by Sun Benjamin on Jun 17 ’24. At $20.63 per share, Sun Benjamin sold 700,000 shares. The insider’s holdings dropped to 2,169,421 shares worth approximately $45.75 million following the completion of this transaction.
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Also, Kang Hanseung sold 40,000 shares, netting a total of over 920,000 in proceeds. Following the sale of shares at $23.00 each, the insider now holds 544,478 shares.
Before that, Kolari Pranam had sold 6,490 shares from its account. In a trade valued at $148,816, the insider traded Coupang Inc shares for $22.93 each. Upon closing the transaction, the insider’s holdings decreased to 6,490 shares, worth approximately $3.83 million.
As published in a research note from UBS on May 16, 2024, Coupang Inc [CPNG] has been rated up from a Neutral to a Buy and the price target has been revised to $26. As of April 15, 2024, Citigroup has increased its “Neutral” rating to a “Buy” for CPNG. Earlier on February 29, 2024, Deutsche Bank upgraded its rating. Their new recommendation was “a Buy” for CPNG stock which previously was a “a Hold”.
Analyzing CPNG Stock Performance
During the last five days, there has been a surge of approximately 0.33%. Over the course of the year, Coupang Inc shares have jumped approximately 30.27%. 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 $22.25, while a 200-day SMA reached $18.15. Nevertheless, trading volume fell to 3.39 million shares from 8.59 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 20.93, which, if violated, would cause prices to drop to 20.76. In the upper region, resistance lies at 21.33. The next price resistance is at 21.57. RSI (Relative Strength Index) is 43.35 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -0.22, which suggests the price will decrease in the coming days. Percent R is at 65.44%, indicating low price movement. Stochastics %K at holding indicates that the stock is to be held.
