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 $344,550,000 were sold by Kim Bom on Nov 11 ’24. At $22.97 per share, Kim Bom sold 15,000,000 shares. The insider’s holdings dropped to 2,000,000 shares worth approximately $47.74 million following the completion of this transaction.
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Also, GREENOAKS CAPITAL PARTNERS LLC purchased 750,000 shares, netting a total of over 18,009,975 in proceeds. Following the buying of shares at $24.01 each, the insider now holds 52,038,723 shares.
Before that, GREENOAKS CAPITAL PARTNERS LLC had added 687,700 shares to its account. In a trade valued at $16,557,409, the Director bought Coupang Inc shares for $24.08 each. Upon closing the transaction, the insider’s holdings increased to 687,700 shares, worth approximately $1.26 billion.
As published in a research note from Bernstein on October 07, 2024, Coupang Inc [CPNG] has been rated up from an Underperform to an Outperform and the price target has been revised to $30. Analysts at CLSA upgraded the stock from ‘”a Hold”‘ to ‘”an Outperform”‘ outlook in a report released in early September. As of May 16, 2024, UBS has increased its “Neutral” rating to a “Buy” for CPNG.
Analyzing CPNG Stock Performance
During the last five days, there has been a drop of approximately -5.32%. Over the course of the year, Coupang Inc shares have jumped approximately 47.44%. Shares of the company reached a 52-week high of $26.91 on 11/05/24 and a 52-week low of $13.51 on 02/02/24. A 50-day SMA is recorded $25.05, while a 200-day SMA reached $22.14. Nevertheless, trading volume fell to 8.47 million shares from 5.83 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 23.52, which, if violated, would cause prices to drop to 23.18. In the upper region, resistance lies at 24.16. The next price resistance is at 24.46. RSI (Relative Strength Index) is 42.09 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -0.38, which suggests the price will decrease in the coming days. Percent R is at 59.75%, indicating low price movement. Stochastics %K at holding indicates that the stock is to be held.
