Vestmark Advisory Solutions Inc. Acquires Shares of 12,498 Coupang, Inc. $CPNG

Vestmark Advisory Solutions Inc. acquired a new position in shares of Coupang, Inc. (NYSE:CPNG) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 12,498 shares of the company’s stock, valued at approximately $374,000.

A number of other hedge funds also recently modified their holdings of the stock. Cerity Partners LLC lifted its position in shares of Coupang by 42.0% during the 1st quarter. Cerity Partners LLC now owns 30,549 shares of the company’s stock worth $670,000 after buying an additional 9,042 shares during the last quarter. Bleakley Financial Group LLC raised its holdings in Coupang by 8.5% during the 1st quarter. Bleakley Financial Group LLC now owns 15,709 shares of the company’s stock worth $344,000 after purchasing an additional 1,232 shares during the last quarter. Sigma Planning Corp acquired a new position in shares of Coupang in the 1st quarter worth approximately $339,000. Massachusetts Financial Services Co. MA increased its position in shares of Coupang by 436.6% during the first quarter. Massachusetts Financial Services Co. MA now owns 8,686,580 shares of the company’s stock worth $190,497,000 after buying an additional 7,067,830 shares during the period. Finally, Victory Capital Management Inc. lifted its holdings in Coupang by 7.4% in the first quarter. Victory Capital Management Inc. now owns 96,433 shares of the company’s stock valued at $2,115,000 after buying an additional 6,646 shares during the period. Institutional investors own 83.72% of the company’s stock.

Insider Activity

In other Coupang news, Director Benjamin Sun sold 815,797 shares of the business’s stock in a transaction dated Tuesday, September 9th. The stock was sold at an average price of $31.88, for a total transaction of $26,007,608.36. Following the sale, the director owned 503,624 shares in the company, valued at approximately $16,055,533.12. The trade was a 61.83% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Pranam Kolari sold 11,653 shares of the firm’s stock in a transaction that occurred on Monday, November 3rd. The stock was sold at an average price of $31.98, for a total transaction of $372,662.94. Following the transaction, the vice president directly owned 147,023 shares of the company’s stock, valued at $4,701,795.54. This represents a 7.34% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 913,633 shares of company stock valued at $29,143,084 over the last 90 days. 12.78% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of equities research analysts recently commented on CPNG shares. Nomura Securities raised Coupang to a “strong-buy” rating in a research report on Wednesday, August 6th. Nomura raised Coupang from a “neutral” rating to a “buy” rating and set a $35.00 price objective for the company in a research note on Wednesday, August 6th. Morgan Stanley increased 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. Wall Street Zen lowered shares of Coupang from a “buy” rating to a “hold” rating in a report on Sunday, July 20th. Finally, Barclays lifted their price objective on Coupang from $36.00 to $40.00 and gave the stock an “overweight” rating in a research report on Tuesday. One analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and four have given a Hold rating to the stock. According to MarketBeat, Coupang has an average rating of “Moderate Buy” and an average target price of $35.00.

Coupang Stock Performance

NYSE CPNG opened at $28.93 on Thursday. Coupang, Inc. has a fifty-two week low of $19.02 and a fifty-two week high of $34.08. The company has a market cap of $52.74 billion, a P/E ratio of 137.99 and a beta of 1.17. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.82 and a current ratio of 1.06. The business’s 50 day moving average price is $31.63 and its 200-day moving average price is $29.52.

Coupang (NYSE:CPNG) last posted its quarterly earnings results on Tuesday, November 4th. The company reported $0.05 earnings per share for the quarter, beating the consensus estimate of $0.04 by $0.01. The firm had revenue of $9.27 billion during the quarter, compared to the consensus estimate of $9.13 billion. Coupang had a net margin of 1.16% and a return on equity of 6.95%. The company’s revenue was up 17.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.06 earnings per share. Sell-side analysts predict that Coupang, Inc. will post 0.17 earnings per share for the current year.

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.