Pacific Capital Partners Ltd Invests $2.19 Million in Coupang, Inc. (NYSE:CPNG)

Pacific Capital Partners Ltd bought a new position in shares of Coupang, Inc. (NYSE:CPNG) in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 99,665 shares of the company’s stock, valued at approximately $2,186,000. Coupang makes up about 1.4% of Pacific Capital Partners Ltd’s holdings, making the stock its 23rd biggest holding.

A number of other large investors have also modified their holdings of the business. California State Teachers Retirement System grew its holdings in shares of Coupang by 0.5% during the fourth quarter. California State Teachers Retirement System now owns 85,489 shares of the company’s stock worth $1,879,000 after buying an additional 445 shares in the last quarter. Virtus ETF Advisers LLC grew its holdings in shares of Coupang by 1.1% during the fourth quarter. Virtus ETF Advisers LLC now owns 44,341 shares of the company’s stock worth $975,000 after buying an additional 466 shares in the last quarter. Resonant Capital Advisors LLC grew its holdings in shares of Coupang by 4.2% during the first quarter. Resonant Capital Advisors LLC now owns 11,768 shares of the company’s stock worth $258,000 after buying an additional 476 shares in the last quarter. National Bank of Canada FI grew its holdings in shares of Coupang by 8.6% during the fourth quarter. National Bank of Canada FI now owns 6,944 shares of the company’s stock worth $153,000 after buying an additional 548 shares in the last quarter. Finally, Snowden Capital Advisors LLC grew its holdings in shares of Coupang by 1.2% during the fourth quarter. Snowden Capital Advisors LLC now owns 49,908 shares of the company’s stock worth $1,097,000 after buying an additional 603 shares in the last quarter. Hedge funds and other institutional investors own 83.72% of the company’s stock.

Coupang Price Performance

Coupang stock opened at $29.81 on Wednesday. Coupang, Inc. has a 12-month low of $18.16 and a 12-month high of $31.65. The stock has a market cap of $54.12 billion, a P/E ratio of 212.91 and a beta of 1.16. The company has a 50-day moving average price of $29.28 and a 200 day moving average price of $25.38. The company has a current ratio of 1.16, a quick ratio of 0.90 and a debt-to-equity ratio of 0.23.

Coupang (NYSE:CPNG) last released its quarterly earnings data on Tuesday, May 6th. The company reported $0.06 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.07 by ($0.01). The firm had revenue of $7.91 billion for the quarter, compared to analyst estimates of $8.02 billion. Coupang had a return on equity of 10.07% and a net margin of 0.82%. The business’s quarterly revenue was up 11.2% compared to the same quarter last year. Sell-side analysts anticipate that Coupang, Inc. will post 0.17 earnings per share for the current year.

Analysts Set New Price Targets

CPNG has been the subject of a number of research reports. Barclays upped their target price on shares of Coupang from $35.00 to $36.00 and gave the stock an “overweight” rating in a report on Thursday, May 8th. Mizuho upgraded shares of Coupang to a “hold” rating in a research report on Friday, April 18th. Finally, Wall Street Zen cut shares of Coupang from a “buy” rating to a “hold” rating in a research report on Sunday, July 20th. Two equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat, Coupang presently has an average rating of “Moderate Buy” and an average price target of $30.08.

Insider Activity at Coupang

In other Coupang news, CFO Gaurav Anand sold 175,000 shares of the stock in a transaction dated Thursday, May 29th. The shares were sold at an average price of $28.11, for a total transaction of $4,919,250.00. Following the completion of the transaction, the chief financial officer owned 2,092,290 shares of the company’s stock, valued at $58,814,271.90. This trade represents a 7.72% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Greenoaks Capital Partners Llc bought 750,000 shares of the stock in a transaction on Wednesday, May 14th. The shares were bought at an average cost of $26.78 per share, with a total value of $20,085,000.00. Following the purchase, the director owned 54,481,161 shares of the company’s stock, valued at $1,459,005,491.58. This trade represents a 1.40% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have sold a total of 40,459,697 shares of company stock valued at $1,067,780,811 over the last quarter. 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.