Coupang, Inc. $CPNG Position Trimmed by Ethic Inc.

Ethic Inc. reduced its holdings in Coupang, Inc. (NYSE:CPNG) by 11.5% during the second quarter, HoldingsChannel reports. The institutional investor owned 28,043 shares of the company’s stock after selling 3,641 shares during the period. Ethic Inc.’s holdings in Coupang were worth $864,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also modified their holdings of the company. Covenant Partners LLC bought a new stake in shares of Coupang during the 2nd quarter valued at about $339,000. D.A. Davidson & CO. grew its holdings in shares of Coupang by 13.7% during the second quarter. D.A. Davidson & CO. now owns 153,445 shares of the company’s stock valued at $4,597,000 after purchasing an additional 18,487 shares during the last quarter. Klingman & Associates LLC raised its position in shares of Coupang by 5.7% during the 2nd quarter. Klingman & Associates LLC now owns 50,999 shares of the company’s stock worth $1,528,000 after purchasing an additional 2,764 shares during the period. Pittenger & Anderson Inc. bought a new stake in shares of Coupang in the 2nd quarter worth approximately $645,000. Finally, William Blair Investment Management LLC acquired a new position in Coupang during the 2nd quarter valued at approximately $30,783,000. 83.72% of the stock is owned by institutional investors and hedge funds.

Coupang Stock Up 1.7%

CPNG opened at $31.69 on Tuesday. 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 $57.78 billion, a PE ratio of 158.48 and a beta of 1.18. The stock’s fifty day moving average is $31.15 and its 200-day moving average is $28.79. Coupang, Inc. has a one year low of $19.02 and a one year high of $34.08.

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

Analysts Set New Price Targets

Several brokerages have weighed in on CPNG. Nomura Securities raised Coupang to a “strong-buy” rating in a research report on Wednesday, August 6th. Nomura upgraded shares of Coupang from a “neutral” rating to a “buy” rating and set a $35.00 target price for the company in a research report on Wednesday, August 6th. Arete Research assumed coverage on Coupang in a report on Thursday, September 18th. They set a “buy” rating and a $40.00 price target on the stock. Zacks Research downgraded Coupang from a “hold” rating to a “strong sell” rating in a research report on Monday, October 6th. Finally, Wall Street Zen cut Coupang from a “buy” rating to a “hold” rating in a research report on Sunday, July 20th. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $33.50.

Insider Buying and Selling

In related news, insider Harold Rogers sold 64,755 shares of the business’s stock in a transaction that occurred 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 in the company, valued at $14,413,182.14. The trade was a 12.59% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Gaurav Anand sold 75,350 shares of the firm’s stock in a transaction that occurred on Monday, August 11th. The stock was sold at an average price of $27.79, for a total transaction of $2,093,976.50. Following the sale, the chief financial officer owned 2,016,940 shares of the company’s stock, valued at $56,050,762.60. The trade was a 3.60% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 988,983 shares of company stock worth $31,203,966. 12.78% of the stock is owned by insiders.

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.