SEATTLE—Kolari Pranam, vice president of search and referrals at Coupang, Inc. (NYSE:CPNG), the $39.92 billion market cap e-commerce leader whose shares have risen nearly 44% over the past year, recently sold shares in the company valued at approximately $17,127. The transaction, which took place on January 2, involved the sale of 775 shares of Class A common stock at a weighted average price of $22.10 per share.
This sale was made to resolve tax liabilities related to the previously reported acquisition and settlement of restricted stock units. After the transaction, Pranam holds 145,265 shares of Coupang.
Shares were sold in multiple transactions at prices ranging from $21.79 to $22.38 per share. Pranam has undertaken to provide detailed information on the number of shares sold at each price upon request.
In other recent news, Coupang Inc. reported strong results in the third quarter, showing a 27% year-over-year increase in total net revenues to $2.3 billion and a 45% increase in gross profit. Despite the unexpected rise in technology-related costs affecting product sales margins, both Barclays (LON:) and CLSA maintained positive ratings on the company’s shares. Analysts at Barclays cited a solid performance in the third quarter, with a favorable group EBITDA margin of 4.4%, while acknowledging a narrowing of trading EBITDA margins due to increased technology spending.
Similarly, CLSA maintains an Outperform rating, anticipating a normalization of these costs over the next 12 months. The company sees significant potential for margin expansion in the medium to long term. Coupang CEO Bom Kim pointed to Farfetch’s (OTC: ) near-breakeven, indicating a cautious approach to spending in the new market.
These recent developments underscore Coupang’s commitment to maintaining strong revenue growth and improving customer experience. The company reported third-quarter profit of $70 million and diluted earnings per share of $0.04. Analysts at Barclays and CLSA continue to support Coupang’s strategy of making significant investments in anticipation of strong future growth, advising investors to look beyond short-term fluctuations in financial results.
This article was generated with the help of AI and reviewed by an editor. See our T&C for more information.
