Coupang Inc’s filing revealed that its Director GREENOAKS CAPITAL PARTNERS LLC acquired Company’s shares for reported $4.59 million on Aug 22 ’24. In the deal valued at $22.93 per share,200,000 shares were bought. As a result of this transaction, GREENOAKS CAPITAL PARTNERS LLC now holds 50,676,224 shares worth roughly $1.12 billion.
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Then, GREENOAKS CAPITAL PARTNERS LLC bought 100,000 shares, generating $2,294,980 in total proceeds. Upon buying the shares at $22.95, the Director now owns 50,476,224 shares.
Before that, Sun Benjamin sold 200,000 shares. Coupang Inc shares valued at $4,672,000 were divested by the Director at a price of $23.36 per share. As a result of the transaction, Sun Benjamin now holds 1,969,421 shares, worth roughly $43.62 million.
UBS upgraded its Coupang Inc [CPNG] rating to a Buy from a a Neutral in a research note published recently. Citigroup also remained covering CPNG and has increased its forecast on April 15, 2024 with a “Buy” recommendation from previously “Neutral” rating. Deutsche Bank revised its rating on February 29, 2024. It rated CPNG as “a Buy” which previously was an “a Hold”.
Price Performance Review of CPNG
On Friday, Coupang Inc [NYSE:CPNG] saw its stock jump 0.54% to $22.15. Over the last five days, the stock has lost -3.15%. Coupang Inc shares have risen nearly 36.81% since the year began. Nevertheless, the stocks have risen 19.02% over the past one year. While a 52-week high of $23.77 was reached on 05/07/24, a 52-week low of $13.51 was recorded on 02/02/24. SMA at 50 days reached $21.45, while 200 days put it at $19.11.
Levels Of Support And Resistance For CPNG Stock
The 24-hour chart illustrates a support level at 21.86, which if violated will result in even more drops to 21.58. On the upside, there is a resistance level at 22.40. A further resistance level may holdings at 22.66. The Relative Strength Index (RSI) on the 14-day chart is 51.27, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -0.55, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bearish at 82.51%. Stochastics %K at 10.25% indicates the stock is a buying.
How much short interest is there in Coupang Inc?
A steep rise in short interest was recorded in Coupang Inc stocks on 2024-08-15, dropping by -1.64 million shares to a total of 21.88 million shares. Yahoo Finance data shows the prior-month short interest on 2024-07-15 was 23.51 million shares. There was a decline of -7.49%, which implies that there is a negative sentiment for the stock.
