Engineers Gate Manager LP bought a new stake in Coupang, Inc. (NYSE:CPNG – Free Report) during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 350,110 shares of the company’s stock, valued at approximately $6,081,000.
Several other large investors have also made changes to their positions in the company. Sunbelt Securities Inc. bought a new stake in shares of Coupang during the third quarter worth $26,000. Reflection Asset Management acquired a new stake in Coupang in the 4th quarter valued at about $28,000. Webster Bank N. A. raised its stake in shares of Coupang by 325.8% in the first quarter. Webster Bank N. A. now owns 1,699 shares of the company’s stock worth $32,000 after acquiring an additional 1,300 shares during the last quarter. Main Street Group LTD acquired a new position in shares of Coupang during the first quarter worth approximately $40,000. Finally, Aster Capital Management DIFC Ltd bought a new stake in shares of Coupang during the fourth quarter valued at approximately $42,000. Institutional investors own 83.72% of the company’s stock.
Wall Street Analysts Forecast Growth
Several research analysts recently weighed in on the stock. Bank of America dropped their price objective on shares of Coupang from $27.00 to $24.00 and set a “buy” rating for the company in a research report on Wednesday, August 5th. Mizuho set a $22.00 target price on Coupang in a research note on Wednesday, August 5th. Barclays reaffirmed an “overweight” rating and set a $29.00 price target on shares of Coupang in a research note on Tuesday, July 7th. Deutsche Bank Aktiengesellschaft upgraded shares of Coupang from a “hold” rating to a “buy” rating and cut their target price for the company from $23.00 to $21.50 in a research report on Wednesday, August 5th. Finally, The Goldman Sachs Group set a $31.00 price target on shares of Coupang in a research note on Thursday, July 9th. Six investment analysts have rated the stock with a Buy rating, four have issued a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $25.39.
Insider Activity
In other news, insider Harold Rogers sold 192,110 shares of Coupang stock in a transaction dated Monday, August 10th. The stock was sold at an average price of $16.18, for a total transaction of $3,108,339.80. Following the transaction, the insider owned 740,931 shares in the company, valued at $11,988,263.58. The trade was a 20.59% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CAO Jonathan D. Lee sold 5,519 shares of the stock in a transaction that occurred on Monday, August 10th. The stock was sold at an average price of $16.10, for a total value of $88,855.90. Following the sale, the chief accounting officer directly owned 181,915 shares of the company’s stock, valued at approximately $2,928,831.50. The trade was a 2.94% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 12.83% of the company’s stock.
Coupang Stock Up 2.7%
Shares of NYSE CPNG opened at $15.06 on Friday. Coupang, Inc. has a 52-week low of $14.45 and a 52-week high of $34.08. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.68 and a current ratio of 0.87. The stock has a market cap of $27.08 billion, a P/E ratio of -35.03 and a beta of 1.15. The firm has a 50 day moving average price of $16.38 and a 200 day moving average price of $17.62.
Coupang (NYSE:CPNG – Get Free Report) last announced its quarterly earnings results on Tuesday, August 4th. The company reported ($0.09) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.27) by $0.18. Coupang had a negative net margin of 2.16% and a negative return on equity of 8.77%. The company had revenue of $8.86 billion for the quarter, compared to analysts’ expectations of $8.92 billion. During the same period last year, the firm posted $0.02 earnings per share. The business’s quarterly revenue was up 3.9% compared to the same quarter last year. Analysts expect that Coupang, Inc. will post -0.46 EPS for the current year.
About Coupang
Coupang, Inc (NYSE: CPNG) is an e-commerce and technology company founded in South Korea in 2010. The company operates an online marketplace offering consumer goods across categories such as electronics, household products, apparel, beauty products and groceries.
Its services include Rocket Delivery, a logistics and fulfillment network designed to provide fast delivery; Rocket Fresh, its grocery delivery service; and Coupang Eats, a food-ordering and delivery platform. Coupang also operates Coupang Play, a subscription-based streaming service, and Coupang Pay, a digital payments service.
Coupang serves customers primarily in South Korea and Taiwan.
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