350,110 Shares in Coupang, Inc. $CPNG Bought by Engineers Gate Manager LP

Engineers Gate Manager LP bought a new stake in Coupang, Inc. (NYSE:CPNG) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 350,110 shares of the company’s stock, valued at approximately $6,081,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in CPNG. California State Teachers Retirement System raised its holdings in Coupang by 0.5% during the third quarter. California State Teachers Retirement System now owns 78,679 shares of the company’s stock worth $2,533,000 after acquiring an additional 361 shares in the last quarter. EverSource Wealth Advisors LLC boosted its holdings in shares of Coupang by 19.5% in the 4th quarter. EverSource Wealth Advisors LLC now owns 3,651 shares of the company’s stock valued at $86,000 after buying an additional 597 shares during the last quarter. National Bank of Canada FI boosted its holdings in shares of Coupang by 6.6% in the 3rd quarter. National Bank of Canada FI now owns 9,801 shares of the company’s stock valued at $316,000 after buying an additional 609 shares during the last quarter. Vise Technologies Inc. boosted its holdings in shares of Coupang by 3.0% in the 4th quarter. Vise Technologies Inc. now owns 22,302 shares of the company’s stock valued at $526,000 after buying an additional 642 shares during the last quarter. Finally, Global Retirement Partners LLC grew its stake in shares of Coupang by 38.0% in the fourth quarter. Global Retirement Partners LLC now owns 2,677 shares of the company’s stock valued at $63,000 after buying an additional 737 shares in the last quarter. 83.72% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on CPNG. Barclays restated an “overweight” rating and set a $29.00 target price on shares of Coupang in a report on Tuesday, July 7th. Weiss Ratings reiterated a “sell (d)” rating on shares of Coupang in a research note on Tuesday, August 4th. Mizuho set a $22.00 price target on Coupang in a research report on Wednesday, August 5th. The Goldman Sachs Group set a $31.00 price objective on Coupang in a research note on Thursday, July 9th. Finally, CLSA started coverage on Coupang in a research report on Monday, June 15th. They issued an “outperform” rating and a $24.00 price objective for the company. Six equities research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $25.39.

Coupang Stock Performance

NYSE:CPNG opened at $15.06 on Friday. The stock has a 50 day simple moving average of $16.38 and a 200 day simple moving average of $17.62. The stock has a market cap of $27.08 billion, a P/E ratio of -35.03 and a beta of 1.15. Coupang, Inc. has a 1-year low of $14.45 and a 1-year high of $34.08. The company has a current ratio of 0.87, a quick ratio of 0.68 and a debt-to-equity ratio of 0.21.

Coupang (NYSE:CPNG) last issued its quarterly earnings data on Tuesday, August 4th. The company reported ($0.09) EPS for the quarter, beating analysts’ consensus estimates of ($0.27) by $0.18. Coupang had a negative return on equity of 8.77% and a negative net margin of 2.16%.The firm had revenue of $8.86 billion for the quarter, compared to analyst estimates of $8.92 billion. During the same period in the prior year, the firm posted $0.02 EPS. The company’s revenue for the quarter was up 3.9% on a year-over-year basis. Research analysts anticipate that Coupang, Inc. will post -0.46 earnings per share for the current year.

Insider Activity

In related news, CAO Jonathan D. Lee sold 5,519 shares of the company’s stock in a transaction dated Monday, August 10th. The shares were sold at an average price of $16.10, for a total value of $88,855.90. Following the transaction, the chief accounting officer directly owned 181,915 shares in the company, valued at approximately $2,928,831.50. This represents a 2.94% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Harold Rogers sold 192,110 shares of the stock in a transaction that occurred on Monday, August 10th. The stock was sold at an average price of $16.18, for a total transaction of $3,108,339.80. Following the transaction, the insider owned 740,931 shares in the company, valued at approximately $11,988,263.58. The trade was a 20.59% decrease in their position. The disclosure for this sale is available in the SEC filing. Corporate insiders own 12.83% of the company’s stock.

Coupang Company Profile

Coupang, Inc (NYSE: CPNG) is an e-commerce and technology company founded in South Korea in 2010. The company operates an online marketplace offering consumer goods across categories such as electronics, household products, apparel, beauty products and groceries.

Its services include Rocket Delivery, a logistics and fulfillment network designed to provide fast delivery; Rocket Fresh, its grocery delivery service; and Coupang Eats, a food-ordering and delivery platform. Coupang also operates Coupang Play, a subscription-based streaming service, and Coupang Pay, a digital payments service.

Coupang serves customers primarily in South Korea and Taiwan.