Coupang, Inc. $CPNG Shares Sold by Connable Office Inc.

Connable Office Inc. trimmed its holdings in shares of Coupang, Inc. (NYSE:CPNG) by 6.9% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 42,148 shares of the company’s stock after selling 3,125 shares during the quarter. Connable Office Inc.’s holdings in Coupang were worth $1,263,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Albion Financial Group UT acquired a new stake in shares of Coupang during the 2nd quarter worth about $30,000. SVB Wealth LLC acquired a new stake in shares of Coupang during the 1st quarter worth about $28,000. Bank Julius Baer & Co. Ltd Zurich acquired a new stake in shares of Coupang in the first quarter valued at $30,000. Brooklyn Investment Group grew its stake in shares of Coupang by 43.1% in 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 in the last quarter. Finally, Ameritas Advisory Services LLC acquired a new stake in shares of Coupang in the second quarter valued at $58,000. 83.72% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on CPNG shares. Nomura Securities raised Coupang to a “strong-buy” rating in a research note on Wednesday, August 6th. Nomura raised Coupang from a “neutral” rating to a “buy” rating and set a $35.00 price objective for the company in a research note on Wednesday, August 6th. Wall Street Zen cut Coupang from a “buy” rating to a “hold” rating in a research note on Sunday, July 20th. Arete Research started coverage on Coupang in a research note on Thursday, September 18th. They issued a “buy” rating and a $40.00 price objective for the company. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Coupang in a research note on Wednesday, October 8th. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, Coupang currently has an average rating of “Moderate Buy” and an average price target of $33.50.

Coupang Trading Up 0.1%

CPNG opened at $32.00 on Tuesday. Coupang, Inc. has a 12 month low of $19.02 and a 12 month high of $34.08. The stock has a market capitalization of $58.34 billion, a price-to-earnings ratio of 160.02 and a beta of 1.18. 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 business has a fifty day moving average price of $31.49 and a 200 day moving average price of $29.21.

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

Insiders Place Their Bets

In other Coupang news, Director Benjamin Sun sold 815,797 shares of Coupang stock in a transaction dated Tuesday, September 9th. The stock was sold at an average price of $31.88, for a total transaction 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. The trade was a 61.83% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Pedro Franceschi sold 21,428 shares of Coupang stock in a transaction dated Thursday, September 11th. The stock was sold at an average price of $32.05, for a total value of $686,767.40. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 977,330 shares of company stock valued at $30,864,398 over the last quarter. Corporate insiders own 12.78% of the company’s stock.

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.