Vise Technologies Inc. Makes New Investment in Coupang, Inc. $CPNG

Vise Technologies Inc. acquired a new stake in shares of Coupang, Inc. (NYSE:CPNG) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 22,558 shares of the company’s stock, valued at approximately $676,000.

Several other large investors have also recently modified their holdings of the stock. Cerity Partners LLC boosted its holdings in Coupang by 42.0% during the 1st quarter. Cerity Partners LLC now owns 30,549 shares of the company’s stock valued at $670,000 after acquiring an additional 9,042 shares during the period. Bleakley Financial Group LLC boosted its stake in shares of Coupang by 8.5% during the first quarter. Bleakley Financial Group LLC now owns 15,709 shares of the company’s stock valued at $344,000 after purchasing an additional 1,232 shares during the period. Sigma Planning Corp bought a new position in shares of Coupang in the first quarter worth approximately $339,000. Victory Capital Management Inc. grew its holdings in shares of Coupang by 7.4% in the first quarter. Victory Capital Management Inc. now owns 96,433 shares of the company’s stock worth $2,115,000 after purchasing an additional 6,646 shares during the last quarter. Finally, Allen Capital Group LLC increased its stake in shares of Coupang by 9.3% in the first quarter. Allen Capital Group LLC now owns 19,583 shares of the company’s stock worth $429,000 after buying an additional 1,660 shares during the period. Hedge funds and other institutional investors own 83.72% of the company’s stock.

Insider Buying and Selling

In related news, Director Pedro Franceschi sold 21,428 shares of the company’s stock in a transaction dated Thursday, September 11th. The shares were sold at an average price of $32.05, for a total value of $686,767.40. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Harold Rogers sold 64,755 shares of the firm’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 sale, the insider owned 449,569 shares of the company’s stock, valued at approximately $14,413,182.14. This represents a 12.59% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 913,633 shares of company stock worth $29,143,084 in the last 90 days. 12.78% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the stock. Arete started coverage on shares of Coupang in a research report on Thursday, September 18th. They set a “buy” rating and a $40.00 price target for the company. Wall Street Zen downgraded Coupang from a “buy” rating to a “hold” rating in a report on Sunday, July 20th. Mizuho increased their price objective on Coupang from $30.00 to $32.00 and gave the stock a “neutral” rating in a report on Thursday, November 6th. Morgan Stanley boosted their target price on Coupang from $32.00 to $35.00 and gave the company an “overweight” rating in a research note on Wednesday, August 20th. Finally, Barclays upped their target price on Coupang from $36.00 to $40.00 and gave the company an “overweight” rating in a report on Tuesday. One research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and four have given a Hold rating to the stock. According to MarketBeat, Coupang currently has a consensus rating of “Moderate Buy” and a consensus target price of $35.00.

Coupang Trading Down 1.0%

NYSE:CPNG opened at $28.53 on Friday. The firm has a market capitalization of $52.01 billion, a P/E ratio of 135.86 and a beta of 1.17. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.06 and a quick ratio of 0.82. Coupang, Inc. has a one year low of $19.02 and a one year high of $34.08. The company’s 50-day simple moving average is $31.63 and its 200 day simple moving average is $29.51.

Coupang (NYSE:CPNG) last released its earnings results on Tuesday, November 4th. The company reported $0.05 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.04 by $0.01. The firm had revenue of $9.27 billion during the quarter, compared to analyst estimates of $9.13 billion. Coupang had a net margin of 1.16% and a return on equity of 6.95%. The business’s revenue was up 17.8% on a year-over-year basis. During the same period last year, the business earned $0.06 earnings per share. As a group, analysts forecast that Coupang, Inc. will post 0.17 EPS for the current fiscal 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.