Vestmark Advisory Solutions Inc. Acquires New Stake in Coupang, Inc. $CPNG

Vestmark Advisory Solutions Inc. purchased a new position in shares of Coupang, Inc. (NYSE:CPNG) during the second quarter, Holdings Channel.com reports. The fund purchased 12,498 shares of the company’s stock, valued at approximately $374,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Dodge & Cox increased its holdings in Coupang by 101.6% in the first quarter. Dodge & Cox now owns 40,784,920 shares of the company’s stock valued at $894,413,000 after buying an additional 20,555,600 shares during the last quarter. GQG Partners LLC acquired a new position in Coupang in the first quarter valued at $168,127,000. Massachusetts Financial Services Co. MA increased its position in shares of Coupang by 436.6% during the first quarter. Massachusetts Financial Services Co. MA now owns 8,686,580 shares of the company’s stock worth $190,497,000 after purchasing an additional 7,067,830 shares in the last quarter. Nuveen LLC purchased a new stake in shares of Coupang in the 1st quarter valued at about $75,775,000. Finally, AustralianSuper Pty Ltd acquired a new position in Coupang during the second quarter worth approximately $51,313,000. Hedge funds and other institutional investors own 83.72% of the company’s stock.

Insiders Place Their Bets

In other news, Director Benjamin Sun sold 815,797 shares of the stock in a transaction that occurred 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Pranam Kolari sold 11,653 shares of the company’s stock in a transaction dated Monday, November 3rd. The stock was sold at an average price of $31.98, for a total value of $372,662.94. Following the completion of the transaction, the vice president directly owned 147,023 shares in the company, valued at approximately $4,701,795.54. The trade was a 7.34% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 913,633 shares of company stock valued at $29,143,084 over the last ninety days. Corporate insiders own 12.78% of the company’s stock.

Wall Street Analyst Weigh In

CPNG has been the topic of several analyst reports. Deutsche Bank Aktiengesellschaft downgraded Coupang from a “buy” rating to a “hold” rating and set a $27.00 target price on the stock. in a research note on Wednesday, August 6th. Barclays upped their target price on Coupang from $36.00 to $40.00 and gave the company an “overweight” rating in a research note on Tuesday. Wall Street Zen lowered Coupang from a “buy” rating to a “hold” rating in a research note on Sunday, July 20th. Mizuho upped their price objective on shares of Coupang from $30.00 to $32.00 and gave the company a “neutral” rating in a research note on Thursday, November 6th. Finally, Morgan Stanley upped their price target on shares of Coupang from $32.00 to $35.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 20th. One investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and four have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $35.00.

Coupang Price Performance

Shares of NYSE:CPNG opened at $28.93 on Thursday. Coupang, Inc. has a 52 week low of $19.02 and a 52 week high of $34.08. The company has a current ratio of 1.06, a quick ratio of 0.82 and a debt-to-equity ratio of 0.13. The firm’s 50 day moving average is $31.63 and its two-hundred day moving average is $29.52. The firm has a market capitalization of $52.74 billion, a P/E ratio of 137.99 and a beta of 1.17.

Coupang (NYSE:CPNG) last issued its quarterly earnings results on Tuesday, November 4th. The company reported $0.05 EPS for the quarter, topping the consensus estimate of $0.04 by $0.01. The firm had revenue of $9.27 billion for the quarter, compared to analysts’ expectations of $9.13 billion. Coupang had a net margin of 1.16% and a return on equity of 6.95%. Coupang’s revenue for the quarter was up 17.8% compared to the same quarter last year. During the same period in the previous year, the business earned $0.06 earnings per share. Analysts anticipate that Coupang, Inc. will post 0.17 earnings per share for the current year.

Coupang 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.