Pittenger & Anderson Inc. Acquires Shares of 21,520 Coupang, Inc. $CPNG

Pittenger & Anderson Inc. purchased a new position in shares of Coupang, Inc. (NYSE:CPNG) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 21,520 shares of the company’s stock, valued at approximately $645,000.

Several other institutional investors have also modified their holdings of CPNG. Dodge & Cox boosted its stake in shares of Coupang by 101.6% during the 1st quarter. Dodge & Cox now owns 40,784,920 shares of the company’s stock worth $894,413,000 after acquiring an additional 20,555,600 shares in the last quarter. GQG Partners LLC purchased a new stake in Coupang in the 1st quarter valued at approximately $168,127,000. Massachusetts Financial Services Co. MA lifted its stake in Coupang by 436.6% in the 1st quarter. Massachusetts Financial Services Co. MA now owns 8,686,580 shares of the company’s stock valued at $190,497,000 after buying an additional 7,067,830 shares in the last quarter. Nuveen LLC purchased a new stake in Coupang in the 1st quarter valued at approximately $75,775,000. Finally, Altimeter Capital Management LP lifted its stake in Coupang by 24.3% in the 1st quarter. Altimeter Capital Management LP now owns 7,441,445 shares of the company’s stock valued at $163,191,000 after buying an additional 1,455,555 shares in the last quarter. Hedge funds and other institutional investors own 83.72% of the company’s stock.

Coupang Trading Down 0.9%

Shares of CPNG opened at $31.40 on Wednesday. The stock has a fifty day moving average of $30.93 and a two-hundred day moving average of $28.43. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.84 and a current ratio of 1.09. The company has a market capitalization of $57.24 billion, a PE ratio of 157.01 and a beta of 1.18. Coupang, Inc. has a fifty-two week low of $19.02 and a fifty-two week high of $34.08.

Coupang (NYSE:CPNG) last issued its quarterly earnings results on Tuesday, August 5th. The company reported $0.02 earnings per share for the quarter, missing the consensus estimate of $0.07 by ($0.05). The business had revenue of $8.52 billion during the quarter, compared to analyst estimates of $8.34 billion. Coupang had a net margin of 1.13% and a return on equity of 7.47%. The company’s revenue was up 16.4% on a year-over-year basis. During the same quarter last year, the firm posted $0.07 earnings per share. As a group, analysts forecast that Coupang, Inc. will post 0.17 EPS for the current year.

Insider Buying and Selling at Coupang

In related news, Director Benjamin Sun sold 815,797 shares of the company’s stock in a transaction on Tuesday, September 9th. The shares were sold at an average price of $31.88, for a total transaction of $26,007,608.36. Following the completion of the sale, the director directly owned 503,624 shares of the company’s stock, valued at approximately $16,055,533.12. This represents a 61.83% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Pedro Franceschi sold 21,428 shares of the company’s stock in a transaction on Thursday, September 11th. The stock was sold at an average price of $32.05, for a total transaction of $686,767.40. The disclosure for this sale can be found here. Over the last quarter, insiders sold 988,983 shares of company stock worth $31,203,966. 12.78% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on the company. Wall Street Zen lowered Coupang from a “buy” rating to a “hold” rating in a research note on Sunday, July 20th. Morgan Stanley upped their target price on Coupang from $32.00 to $35.00 and gave the company an “overweight” rating in a research note on Wednesday, August 20th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Coupang in a research note on Wednesday, October 8th. Nomura Securities raised Coupang to a “strong-buy” rating in a research note on Wednesday, August 6th. Finally, Arete assumed coverage on Coupang in a research note on Thursday, September 18th. They issued a “buy” rating and a $40.00 target price on the stock. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $33.50.

Coupang Profile

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.