Rhumbline Advisers Decreases Holdings in Coupang, Inc. $CPNG

Rhumbline Advisers decreased its stake in Coupang, Inc. (NYSE:CPNG) by 5.9% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,761,215 shares of the company’s stock after selling 110,224 shares during the quarter. Rhumbline Advisers owned approximately 0.10% of Coupang worth $52,766,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of CPNG. Sequoia Financial Advisors LLC boosted its holdings in Coupang by 0.5% in the 2nd quarter. Sequoia Financial Advisors LLC now owns 68,468 shares of the company’s stock worth $2,051,000 after buying an additional 363 shares during the last quarter. Inspirion Wealth Advisors LLC lifted its position 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 valued at $4,024,000 after acquiring an additional 400 shares in the last quarter. Thoroughbred Financial Services LLC lifted its position 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 valued at $646,000 after acquiring an additional 408 shares in the last quarter. Baader Bank Aktiengesellschaft boosted its stake in shares of Coupang by 4.3% in the second quarter. Baader Bank Aktiengesellschaft now owns 11,248 shares of the company’s stock worth $323,000 after acquiring an additional 461 shares during the last quarter. Finally, Brooklyn Investment Group increased 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 worth $37,000 after purchasing an additional 506 shares in the last quarter. Institutional investors and hedge funds own 83.72% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently commented on CPNG shares. Zacks Research raised Coupang from a “strong sell” rating to a “hold” rating in a research note on Tuesday, November 4th. Barclays increased their target price on shares of Coupang from $36.00 to $40.00 and gave the company an “overweight” rating in a research report on Tuesday, November 11th. Weiss Ratings reissued a “hold (c)” rating on shares of Coupang in a research note on Wednesday, October 8th. Nomura raised shares of 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. Finally, Mizuho increased their price objective on shares of Coupang from $30.00 to $32.00 and gave the company a “neutral” rating in a report on Thursday, November 6th. One research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and four have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $35.00.

Coupang Trading Up 3.2%

Shares of CPNG stock opened at $27.51 on Tuesday. The company has a current ratio of 1.06, a quick ratio of 0.82 and a debt-to-equity ratio of 0.13. Coupang, Inc. has a twelve month low of $19.02 and a twelve month high of $34.08. The company’s 50-day moving average price is $31.00 and its 200-day moving average price is $29.74. The stock has a market cap of $50.25 billion, a price-to-earnings ratio of 131.01 and a beta of 1.17.

Coupang (NYSE:CPNG) last released its quarterly earnings data on Tuesday, November 4th. The company reported $0.05 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.04 by $0.01. The firm had revenue of $9.27 billion during 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 was up 17.8% compared to the same quarter last year. During the same period last year, the business earned $0.06 earnings per share. As a group, equities analysts predict that Coupang, Inc. will post 0.17 earnings per share for the current year.

Insider Activity

In other Coupang news, Director Pedro Franceschi sold 21,428 shares of the firm’s 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Harold Rogers sold 64,755 shares of Coupang stock in a transaction on Thursday, September 11th. The shares were sold at an average price of $32.06, for a total value of $2,076,045.30. Following the completion of the sale, the insider owned 449,569 shares in the company, valued at $14,413,182.14. This represents a 12.59% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 913,633 shares of company stock worth $29,143,084 in the last 90 days. 12.78% of the stock is owned by corporate insiders.

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.