Sequoia Financial Advisors LLC Boosts Stake in Coupang, Inc. $CPNG

Sequoia Financial Advisors LLC boosted its stake in shares of Coupang, Inc. (NYSE:CPNG) by 0.5% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 68,468 shares of the company’s stock after buying an additional 363 shares during the period. Sequoia Financial Advisors LLC’s holdings in Coupang were worth $2,051,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently bought and sold shares of the stock. CWM LLC lifted its holdings in Coupang by 17.0% during the second quarter. CWM LLC now owns 169,346 shares of the company’s stock worth $5,074,000 after buying an additional 24,638 shares during the period. Vanguard Personalized Indexing Management LLC increased its position in shares of Coupang by 34.8% during the second quarter. Vanguard Personalized Indexing Management LLC now owns 82,154 shares of the company’s stock worth $2,461,000 after purchasing an additional 21,227 shares in the last quarter. Apollon Wealth Management LLC acquired a new position in shares of Coupang during the second quarter worth $272,000. Aberdeen Group plc increased its position in shares of Coupang by 11.3% during the second quarter. Aberdeen Group plc now owns 602,922 shares of the company’s stock worth $18,064,000 after purchasing an additional 61,150 shares in the last quarter. Finally, Blue Trust Inc. increased its position in shares of Coupang by 92.9% during the second quarter. Blue Trust Inc. now owns 5,954 shares of the company’s stock worth $178,000 after purchasing an additional 2,867 shares in the last quarter. Hedge funds and other institutional investors own 83.72% of the company’s stock.

Insider Buying and Selling

In other Coupang news, insider Harold Rogers sold 64,755 shares of the company’s stock in a transaction on Thursday, September 11th. The shares were sold at an average price of $32.06, for a total value of $2,076,045.30. Following the sale, the insider directly owned 449,569 shares of the company’s stock, valued at approximately $14,413,182.14. This represents a 12.59% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Pranam Kolari sold 11,653 shares of the company’s stock in a transaction on Monday, August 4th. The shares were sold at an average price of $29.14, for a total transaction of $339,568.42. Following the completion of the sale, the vice president directly owned 158,676 shares in the company, valued at approximately $4,623,818.64. The trade was a 6.84% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 988,983 shares of company stock valued at $31,203,966 in the last 90 days. 12.78% of the stock is currently owned by insiders.

Coupang Price Performance

Shares of CPNG opened at $31.56 on Thursday. The firm has a market capitalization of $57.53 billion, a PE ratio of 157.79 and a beta of 1.18. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.09 and a quick ratio of 0.84. Coupang, Inc. has a 1-year low of $19.02 and a 1-year high of $34.08. The company’s fifty day moving average price is $30.64 and its 200-day moving average price is $28.11.

Coupang (NYSE:CPNG) last announced its quarterly earnings data on Tuesday, August 5th. The company reported $0.02 earnings per share for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.05). The company had revenue of $8.52 billion for the quarter, compared to analysts’ expectations of $8.34 billion. Coupang had a net margin of 1.13% and a return on equity of 7.47%. Coupang’s quarterly revenue was up 16.4% compared to the same quarter last year. During the same period last year, the firm earned $0.07 earnings per share. On average, equities research analysts predict that Coupang, Inc. will post 0.17 EPS for the current year.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on CPNG shares. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Coupang in a research report on Wednesday, October 8th. Arete Research started coverage on Coupang in a research report on Thursday, September 18th. They set a “buy” rating and a $40.00 price target on the stock. Morgan Stanley upped their price target on Coupang from $32.00 to $35.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 20th. Nomura raised Coupang from a “neutral” rating to a “buy” rating and set a $35.00 price target on the stock in a research report on Wednesday, August 6th. Finally, Arete assumed coverage on shares of Coupang in a report on Thursday, September 18th. They set a “buy” rating and a $40.00 price objective on the stock. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, three have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $33.50.

About Coupang

Coupang, Inc, together with its subsidiaries owns and operates retail business through its mobile applications and Internet websites primarily in South Korea. The company operates through Product Commerce and Developing Offerings segments. It sells various products and services in the categories of home goods and décor products, apparel, beauty products, fresh food and groceries, sporting goods, electronics, and everyday consumables, as well as travel, and restaurant order and delivery services.