Coupang Inc’s recently made public that its CEO and Chairman Kim Bom unloaded Company’s shares for reported $344.55 million on Nov 11 ’24. In the deal valued at $22.97 per share,15,000,000 shares were sold. As a result of this transaction, Kim Bom now holds 2,000,000 shares worth roughly $48.72 million.
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Then, GREENOAKS CAPITAL PARTNERS LLC bought 750,000 shares, generating $18,009,975 in total proceeds. Upon buying the shares at $24.01, the Director now owns 52,038,723 shares.
Before that, GREENOAKS CAPITAL PARTNERS LLC bought 687,700 shares. Coupang Inc shares valued at $16,557,409 were divested by the Director at a price of $24.08 per share. As a result of the transaction, GREENOAKS CAPITAL PARTNERS LLC now holds 52,726,423 shares, worth roughly $1.28 billion.
Bernstein upgraded its Coupang Inc [CPNG] rating to an Outperform from a an Underperform in a research note published recently. A number of analysts have revised their coverage, including CLSA’s analysts, who increased its forecast for the stock in early September from “a Hold” to “an Outperform”. UBS also remained covering CPNG and has increased its forecast on May 16, 2024 with a “Buy” recommendation from previously “Neutral” rating.
Price Performance Review of CPNG
On Monday, Coupang Inc [NYSE:CPNG] saw its stock fall -0.49% to $24.36. Over the last five days, the stock has gained 1.08%. Coupang Inc shares have risen nearly 50.46% since the year began. Nevertheless, the stocks have risen 53.59% over the past one year. While a 52-week high of $26.91 was reached on 11/05/24, a 52-week low of $13.51 was recorded on 02/02/24. SMA at 50 days reached $24.94, while 200 days put it at $21.61.
Levels Of Support And Resistance For CPNG Stock
The 24-hour chart illustrates a support level at 24.00, which if violated will result in even more drops to 23.64. On the upside, there is a resistance level at 24.62. A further resistance level may holdings at 24.88. The Relative Strength Index (RSI) on the 14-day chart is 45.48, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -0.42, which suggests price will go down in the next trading period. Percent R suggests that price movement has been low at 64.39%. Stochastics %K at 44.78% indicates the stock is a holding.
How much short interest is there in Coupang Inc?
A steep rise in short interest was recorded in Coupang Inc stocks on 2024-10-31, dropping by -0.81 million shares to a total of 13.49 million shares. Yahoo Finance data shows the prior-month short interest on 2024-09-30 was 14.3 million shares. There was a decline of -6.0%, which implies that there is a negative sentiment for the stock.
