Institute for Wealth Management LLC. Takes Position in Coupang, Inc. $CPNG

Institute for Wealth Management LLC. acquired a new stake in shares of Coupang, Inc. (NYSE:CPNG) in the 2nd quarter, Holdings Channel.com reports. The institutional investor acquired 8,159 shares of the company’s stock, valued at approximately $244,000.

Several other hedge funds have also recently made changes to their positions in the stock. Inspirion Wealth Advisors LLC raised its holdings in shares of Coupang by 0.3% during the second quarter. Inspirion Wealth Advisors LLC now owns 134,314 shares of the company’s stock valued at $4,024,000 after purchasing an additional 400 shares during the last quarter. Thoroughbred Financial Services LLC raised its holdings in shares of Coupang by 1.4% during the first quarter. Thoroughbred Financial Services LLC now owns 29,486 shares of the company’s stock valued at $646,000 after purchasing an additional 408 shares during the last quarter. California State Teachers Retirement System raised 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 valued at $1,879,000 after purchasing an additional 445 shares during the last quarter. Baader Bank Aktiengesellschaft increased its holdings in Coupang by 4.3% during the second quarter. Baader Bank Aktiengesellschaft now owns 11,248 shares of the company’s stock valued at $323,000 after buying an additional 461 shares during the last quarter. Finally, Resonant Capital Advisors LLC increased its holdings in Coupang by 4.2% during the first quarter. Resonant Capital Advisors LLC now owns 11,768 shares of the company’s stock valued at $258,000 after buying an additional 476 shares during the last quarter. 83.72% of the stock is owned by hedge funds and other institutional investors.

Coupang Stock Performance

Shares of NYSE CPNG opened at $32.56 on Friday. The firm has a fifty day moving average price of $30.19 and a 200-day moving average price of $27.57. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.09 and a quick ratio of 0.84. The stock has a market cap of $59.36 billion, a PE ratio of 162.80 and a beta of 1.18. Coupang, Inc. has a 1 year low of $19.02 and a 1 year high of $34.08.

Coupang (NYSE:CPNG) last announced its quarterly earnings data 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). The firm had revenue of $8.52 billion during the quarter, compared to analysts’ expectations of $8.34 billion. Coupang had a return on equity of 7.47% and a net margin of 1.13%.The business’s revenue for the quarter was up 16.4% on a year-over-year basis. During the same period last year, the company earned $0.07 earnings per share. Equities analysts anticipate that Coupang, Inc. will post 0.17 earnings per share for the current fiscal year.

Insider Transactions at Coupang

In other news, Director Benjamin Sun sold 815,797 shares of the stock in a transaction on Tuesday, September 9th. The shares were sold at an average price of $31.88, for a total value 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 $16,055,533.12. This represents a 61.83% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Gaurav Anand sold 75,350 shares of the stock in a transaction 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 completion of the sale, the chief financial officer directly owned 2,016,940 shares of the company’s stock, valued at approximately $56,050,762.60. This trade represents a 3.60% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 988,983 shares of company stock valued at $31,203,966. Company insiders own 12.78% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the stock. Morgan Stanley upped their target price on shares of Coupang from $32.00 to $35.00 and gave the company an “overweight” rating in a report on Wednesday, August 20th. Deutsche Bank Aktiengesellschaft cut shares of Coupang from a “buy” rating to a “hold” rating and set a $27.00 target price for the company. in a report on Wednesday, August 6th. Nomura raised shares of Coupang from a “neutral” rating to a “buy” rating and set a $35.00 target price for the company in a report on Wednesday, August 6th. Arete assumed coverage on shares of Coupang in a report on Thursday, September 18th. They set a “buy” rating and a $40.00 target price for the company. Finally, Arete Research assumed coverage on shares of Coupang in a report on Thursday, September 18th. They set a “buy” rating and a $40.00 target price for the company. One equities research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and two have issued a Hold rating to the company. According to MarketBeat.com, Coupang currently has a consensus rating of “Moderate Buy” and a consensus target price of $33.11.

Coupang Company 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.