Equitable Trust Co. Lowers Stock Position in Coupang, Inc. $CPNG

Equitable Trust Co. cut its stake in shares of Coupang, Inc. (NYSE:CPNG) by 1.5% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 120,136 shares of the company’s stock after selling 1,814 shares during the quarter. Equitable Trust Co.’s holdings in Coupang were worth $3,599,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of the stock. Sequoia Financial Advisors LLC lifted its holdings in shares of Coupang by 0.5% during the second quarter. Sequoia Financial Advisors LLC now owns 68,468 shares of the company’s stock worth $2,051,000 after purchasing an additional 363 shares during the period. Inspirion Wealth Advisors LLC boosted its position in shares of Coupang by 0.3% during the 2nd quarter. Inspirion Wealth Advisors LLC now owns 134,314 shares of the company’s stock worth $4,024,000 after purchasing an additional 400 shares in the last quarter. Thoroughbred Financial Services LLC boosted its position in shares of Coupang by 1.4% during the 1st quarter. Thoroughbred Financial Services LLC now owns 29,486 shares of the company’s stock worth $646,000 after purchasing an additional 408 shares in the last quarter. Baader Bank Aktiengesellschaft boosted its position in shares of Coupang by 4.3% during the 2nd quarter. Baader Bank Aktiengesellschaft now owns 11,248 shares of the company’s stock worth $323,000 after purchasing an additional 461 shares in the last quarter. Finally, Resonant Capital Advisors LLC boosted its position in shares of Coupang by 4.2% during the 1st quarter. Resonant Capital Advisors LLC now owns 11,768 shares of the company’s stock worth $258,000 after purchasing an additional 476 shares in the last quarter. 83.72% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the stock. Nomura upgraded shares of Coupang from a “neutral” rating to a “buy” rating and set a $35.00 target price on the stock in a research report on Wednesday, August 6th. Nomura Securities upgraded shares of Coupang to a “strong-buy” rating in a research report on Wednesday, August 6th. Zacks Research lowered shares of Coupang from a “hold” rating to a “strong sell” rating in a research report on Monday, October 6th. Arete Research began coverage on shares of Coupang in a research report on Thursday, September 18th. They issued a “buy” rating and a $40.00 price objective on the stock. Finally, Arete began coverage on shares of Coupang in a research report on Thursday, September 18th. They issued a “buy” rating and a $40.00 price objective on the stock. One investment analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $33.50.

Insider Transactions at Coupang

In other news, Director Benjamin Sun sold 815,797 shares of the company’s stock in a transaction dated Tuesday, September 9th. The shares were sold at an average price of $31.88, for a total transaction of $26,007,608.36. Following the completion of the transaction, the director owned 503,624 shares of the company’s stock, valued at $16,055,533.12. This represents a 61.83% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Harold Rogers sold 64,755 shares of the company’s stock in a transaction dated Thursday, September 11th. The shares were sold at an average price of $32.06, for a total transaction of $2,076,045.30. Following the transaction, the insider directly owned 449,569 shares of the company’s stock, valued at approximately $14,413,182.14. This represents a 12.59% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 988,983 shares of company stock worth $31,203,966 in the last ninety days. Company insiders own 12.78% of the company’s stock.

Coupang Trading Up 1.7%

Shares of CPNG stock opened at $31.76 on Tuesday. The firm has a 50-day moving average price of $30.54 and a 200 day moving average price of $28.06. Coupang, Inc. has a twelve month low of $19.02 and a twelve month high of $34.08. The company has a market capitalization of $57.89 billion, a price-to-earnings ratio of 158.78 and a beta of 1.18. The company has a current ratio of 1.09, a quick ratio of 0.84 and a debt-to-equity ratio of 0.18.

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

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.