WASHINGTON TRUST Co Acquires New Position in Coupang, Inc. (NYSE:CPNG)

WASHINGTON TRUST Co acquired a new stake in shares of Coupang, Inc. (NYSE:CPNG) in the second quarter, Holdings Channel reports. The firm acquired 5,600 shares of the company’s stock, valued at approximately $117,000.

Several other large investors have also modified their holdings of the business. Global Retirement Partners LLC raised its stake in shares of Coupang by 135.8% during the 1st quarter. Global Retirement Partners LLC now owns 1,436 shares of the company’s stock worth $26,000 after acquiring an additional 827 shares in the last quarter. GAMMA Investing LLC raised its stake in shares of Coupang by 308.2% during the 2nd quarter. GAMMA Investing LLC now owns 1,947 shares of the company’s stock worth $41,000 after acquiring an additional 1,470 shares in the last quarter. Register Financial Advisors LLC purchased a new stake in Coupang during the 1st quarter worth approximately $50,000. Opal Wealth Advisors LLC purchased a new stake in shares of Coupang in the 2nd quarter valued at $74,000. Finally, Acadian Asset Management LLC boosted its holdings in shares of Coupang by 438.7% in the 1st quarter. Acadian Asset Management LLC now owns 5,581 shares of the company’s stock valued at $99,000 after acquiring an additional 4,545 shares during the last quarter. Institutional investors own 83.72% of the company’s stock.

Coupang Stock Down 0.7 %

NYSE:CPNG traded down $0.15 during trading hours on Tuesday, hitting $22.58. The stock had a trading volume of 8,498,153 shares, compared to its average volume of 10,881,280. The company has a current ratio of 1.15, a quick ratio of 0.89 and a debt-to-equity ratio of 0.67. Coupang, Inc. has a 1-year low of $13.51 and a 1-year high of $23.77. The business has a 50 day simple moving average of $21.15 and a two-hundred day simple moving average of $19.91. The company has a market cap of $40.37 billion, a PE ratio of 32.40, a price-to-earnings-growth ratio of 2,041.58 and a beta of 1.09.

Coupang (NYSE:CPNG) last released its quarterly earnings results on Tuesday, August 6th. The company reported $0.07 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.01) by $0.08. Coupang had a net margin of 4.96% and a return on equity of 13.59%. The business had revenue of $7.32 billion during the quarter, compared to the consensus estimate of $7.39 billion. During the same quarter last year, the company earned $0.08 earnings per share. The business’s quarterly revenue was up 25.4% compared to the same quarter last year. Analysts predict that Coupang, Inc. will post 0.01 EPS for the current year.

Insider Transactions at Coupang

In related news, insider Pranam Kolari sold 6,490 shares of Coupang stock in a transaction dated Monday, May 20th. The stock was sold at an average price of $22.93, for a total transaction of $148,815.70. Following the transaction, the insider now directly owns 181,461 shares of the company’s stock, valued at $4,160,900.73. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In other Coupang news, insider Pranam Kolari sold 6,490 shares of the company’s stock in a transaction on Monday, May 20th. The stock was sold at an average price of $22.93, for a total value of $148,815.70. Following the sale, the insider now directly owns 181,461 shares in the company, valued at $4,160,900.73. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Benjamin Sun sold 700,000 shares of the business’s stock in a transaction on Monday, June 17th. The stock was sold at an average price of $20.63, for a total value of $14,441,000.00. Following the completion of the transaction, the director now directly owns 2,169,421 shares in the company, valued at approximately $44,755,155.23. The disclosure for this sale can be found here. Over the last quarter, insiders sold 756,922 shares of company stock valued at $15,717,413. 13.60% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several research firms have recently commented on CPNG. Bank of America initiated coverage on shares of Coupang in a report on Friday, May 3rd. They issued a “buy” rating and a $30.00 price objective on the stock. Citigroup increased their price target on shares of Coupang from $26.00 to $28.00 and gave the stock a “buy” rating in a report on Wednesday, May 8th. Morgan Stanley increased their price target on shares of Coupang from $26.00 to $27.00 and gave the stock an “overweight” rating in a report on Wednesday, June 26th. Barclays increased their price target on shares of Coupang from $25.00 to $32.00 and gave the stock an “overweight” rating in a report on Thursday, May 9th. Finally, UBS Group upgraded shares of Coupang from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $18.50 to $26.00 in a research report on Thursday, May 16th. One investment analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $26.71.

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.