Corton Capital Inc. Acquires Shares of 8,844 Coupang, Inc. $CPNG

Corton Capital Inc. acquired a new stake in shares of Coupang, Inc. (NYSE:CPNG) in the second quarter, Holdings Channel.com reports. The institutional investor acquired 8,844 shares of the company’s stock, valued at approximately $265,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in CPNG. Sequoia Financial Advisors LLC lifted its position in Coupang by 0.5% in the 2nd quarter. Sequoia Financial Advisors LLC now owns 68,468 shares of the company’s stock valued at $2,051,000 after acquiring an additional 363 shares in the last quarter. Inspirion Wealth Advisors LLC raised its stake in shares of Coupang by 0.3% in the second 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 during the last quarter. Thoroughbred Financial Services LLC raised its stake in shares of Coupang by 1.4% in the first quarter. Thoroughbred Financial Services LLC now owns 29,486 shares of the company’s stock worth $646,000 after purchasing an additional 408 shares during the last quarter. Baader Bank Aktiengesellschaft lifted its holdings in shares of Coupang by 4.3% in the second quarter. Baader Bank Aktiengesellschaft now owns 11,248 shares of the company’s stock valued at $323,000 after purchasing an additional 461 shares in the last quarter. Finally, Brooklyn Investment Group boosted its position in shares of Coupang by 43.1% during the first quarter. Brooklyn Investment Group now owns 1,680 shares of the company’s stock valued at $37,000 after buying an additional 506 shares during the last quarter. 83.72% of the stock is owned by institutional investors.

Coupang Price Performance

Shares of NYSE:CPNG opened at $32.00 on Tuesday. The company has a market capitalization of $58.34 billion, a P/E ratio of 160.02 and a beta of 1.18. The company’s 50-day moving average is $31.49 and its 200 day moving average is $29.21. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.84 and a current ratio of 1.09. Coupang, Inc. has a fifty-two week low of $19.02 and a fifty-two week high of $34.08.

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

Analyst Upgrades and Downgrades

A number of research firms recently commented on CPNG. Nomura Securities raised Coupang to a “strong-buy” rating in a research report on Wednesday, August 6th. Deutsche Bank Aktiengesellschaft downgraded 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 price target on the stock in a research report on Wednesday, August 6th. Wall Street Zen downgraded shares of Coupang from a “buy” rating to a “hold” rating in a research report on Sunday, July 20th. Finally, Arete Research began coverage on shares of Coupang in a research report on Thursday, September 18th. They set a “buy” rating and a $40.00 target price on the stock. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, three have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $33.50.

Insider Activity at Coupang

In other Coupang news, Director Pedro Franceschi sold 21,428 shares of the stock in a transaction on Thursday, September 11th. The stock was sold at an average price of $32.05, for a total transaction of $686,767.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Benjamin Sun sold 815,797 shares of the firm’s stock in a transaction on Tuesday, September 9th. The stock was 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 SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 977,330 shares of company stock worth $30,864,398. 12.78% of the stock is currently owned by company 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.